Aerospace Corp. gets $2.85 million grant from NASA; PeerStreet raises $29.5 million in Series B; Waze causing accidents on Echo Park’s Baxter Street.
Aerospace Corp. gets $2.85 Million Grant from NASA
The Aerospace Corp. received a grant for $2.85 million from NASA to investigate dynamic changes in the Earth's atmosphere and ionosphere, the Business Journal reports. The centerpiece of the study is an instrumented six-unit CubeSat mission called the Daily Atmospheric Ionospheric Limb Imager (DAILI) that will be designed, built, and flown by Aerospace. DAILI is scheduled to begin its one-year flight mission in 2020.
PeerStreet, an Andreessen Horowitz-backed fintech company, closed its Series B round of $29.5 million, the Business Journal reports. The round was led by World Innovation Lab, a Palo Alto and Tokyo-based VC. Los Angeles-based PeerStreet is a two-sided platform for investing in real estate backed loans that connects private lenders with investors and the global capital markets. It is co-founded by Google Analytics founder Brett Crosby. To date, the company has funded over $900 million in loans, with zero losses to investors so far.
Baxter Street, one of the steepest streets in the Echo Park neighborhood of Los Angeles, is back in the news thanks to L.A. Times columnist Steve Lopez, the Eastsider reports. Lopez reviewed the traffic congestion and accidents that residents of the narrow residential street say have increased thanks to Waze and other navigation apps. One resident said they requested that Baxter be removed as a shortcut on the app but Waze said no way.
Technology reporter Eli Horowitz can be reached at firstname.lastname@example.org. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.