Los Angeles Business Journal

Silicon Beach Report Feb. 15: Fika Ventures Raises $40 Million Seed Fund

By Garrett Reim Wednesday, February 15, 2017

Fika Ventures raises $40 million seed fund, Musk posts tweet opposing Muslim ban, then deletes it, Imax opens flagship virtual reality center on Fairfax, and more.

Fika Ventures Raises $40 Million Seed Fund

Fika Ventures has raised a $40 million seed fund to invest in business-to-business companies developing software products for finance, online marketplaces, and healthcare, reports the Business Journal. Fika was founded by Eva Ho and TX Zhuo, who were founding general partners at Susa Ventures and Karlin Ventures respectively.

Exactuals Raises $10.6M Series B Just Weeks After Series A Round

Exactuals, a residual payment software developer, raised a $10.6 million Series B round just weeks after it raised a $10 million Series A round, according to a press release. The company also struck a deal with several movie studios this month to handle direct deposit of residuals for members of entertainment union Sag-Aftra.

Musk Posts Tweet Opposing Muslim Travel Ban, Then Deletes It

Elon Musk, chief executive of Space Exploration Technologies Corp., posted a series of tweets opposing the Trump administration’s Muslim travel ban before deleting the comments shortly after, reports Recode. Musk sits on two Trump business advisory boards.

Imax Opens Flagship Virtual Reality Center on Fairfax

Imax opened its flagship virtual reality arcade on Fairfax on Tuesday, reports Variety. The arcade has 14 single occupant virtual reality attractions in which viewers can experience scenes from movies such as “Star Wars” and tight-rope walking film "The Walk."

Educational Robot Startup Ozobot Raises $3 Million

Ozobot, which makes an educational robot, raised a $3 million seed round, reports TechCrunch. The robot’s movements can be programmed by children using a simple coding language.

Sag-Aftra Launches App for Members

Sag-Aftra has launched a new app for its 160,000 members, reports The Hollywood Reporter. The app allows users to track residuals, keep tabs on local productions, read the latest news, get answers to key contract questions, snag special deals, and add events directly to their calendars.

Send tips on L.A. tech companies and startups to reporter Garrett Reim via greim@labusinessjournal.com. Follow @garrettreim on Twitter for the latest in L.A. tech news.