While things cool down in time for fall, LA tech companies raked in several new funding rounds. Despite a slower period for capital raises, a number of solutions were backed by investors last month. LA’s five largest funding rounds in October totaled $296 million. From eco-friendly infrastructure to 3D-printed dental items, check out what these West Coast companies are building.
Largest LA Tech Funding Rounds, October 2022
- SprintRay
- Liquid Death
- Ten Thousand Coffees
- Loop Global
- WorkSpan
#5. WorkSpan: $30 million, October 5
Companies these days are more familiar with operating aspects of their business in cloud-based environments, including managing their partner ecosystems. WorkSpan wants to help businesses build, market and sell solutions alongside their partners. The company will invest $30 million from lead investor Insight Partners in building more solutions as well as servicing and supporting its customer base.
#4. Loop: $40 million, October 3
Providing charging infrastructure for electric vehicles, Loop secured a $40 million equity investment, co-led by Fifth Wall Climate and Agility Ventures, and a $20 million credit facility from Keystone National Group as part of its A-1 round. The company builds hardware and software to enable EV charging at residential, public or commercial properties and has sold more than 7,000 stations to date. With its latest round, Loop will expand its U.S. operations.
#3. Ten Thousand Coffees: $56 million, October 17
The company operates a talent experience platform for mentoring and skills development. With more than 200 business customers, Ten Thousand Coffees helps employers scale employee engagement in today’s decentralized, remote and hybrid work environments. Backed by Five Elms Capital, its fresh capital will help build out its product roadmap and scale its solutions across the globe.
#2. Liquid Death: $70 million, October 13
Known for offering drinking water in a beer-style can, beverage company Liquid Death pulled in a round of financing led by Science Ventures to expand into new beverage categories and grow its reach into the European market. The company distributes its products in stores, online and at concerts and has recently introduced non-alcoholic drinks to its offerings. Founded in 2019, the company is now valued at $700 million.
#1. SprintRay: $100 million+, October 10
With plans to expand its geographic reach, SprintRay pulled in over $100 million in Series D funding led by SoftBank. The company develops 3D printing solutions for dental products and operates within China, the U.S. and Europe. SprintRay is looking to further its presence within Southeast Asia and grow into new markets including the Middle East, India and Australasia.
