The Los Angeles tech scene is known for innovations in video gaming, aerospace and more. Companies in these industries and others announced funding raises last month, with the largest round going to a company in the quantum computing sector. Keep reading to learn more about these companies’ investment plans.
Largest LA Tech Funding Rounds, July 2023
- Q-CTRL
- Impulse
- Karat Financial
- Gardens
- Collectly
#5. $29 million, July 20
Headquartered in Santa Monica, Collectly develops patient financial engagement software for medical groups. Its Series A round from lead investor Sapphire Ventures will help the startup enhance its financial engagement software and fuel market expansion. Collectly also plans to double the size of its team by the end of the year.
#4. $31.3 million, July 11
Lightspeed Venture Partners and Krafton led a round of Series A funding for game studio Gardens, an developer working on a fantasy adventure video game. Members of Gardens’ team have worked on games including Sky: Children of the Light and Dustforce, as well as movies like The Hobbit.
#3. $40 million, July 19
Karat provides financial tools to creators. Its underwriting platform measures a creator’s unique creditworthiness, granting that creator access to higher limits and other rewards. The company recently raised new capital consisting of a $40 million equity raise led by SignalFire and a $30 million credit facility from TriplePoint Capital. The Series B brings Karat’s total funding to $100 million to date.
#2. $45 million, July 25
RTX Ventures led the round of Series A funding for Impulse, a space tech company working on transportation solutions for the inner solar system. The company plans to prepare for upcoming missions including a voyage to Mars, and will put this capital raise in particular toward creating its largest vehicle to date: Helios.
#1. $54 million, July 25
A new injection of capital for Q-CTRL, a company that uses AI-enhanced quantum infrastructure to stabilize quantum hardware, will help the company fuel its next stage of growth. Led by Morpheus Ventures, the round will go toward fostering technical innovation, expanding Q-CTRL’s product portfolio and scaling the company’s operations.
