Billionaire Peter Thiel moving to Los Angeles; custom packaging company Lumi raises $9 million; and DroneBase raises $12 million.
Billionaire investor Peter Thiel is reportedly moving his residence, as well as his venture capital firm and non-profit, to Los Angeles after expressing frustration with what he sees as Silicon Valley’s overwhelming liberal politics and diminishing opportunities for tech investing, the Business Journal reports. The co-founder and former chief executive of Pay Pal plans to permanently move into a home in Hollywood Hills West, which he purchased in 2012 for $11.5 million.
Custom cardboard box packaging company Lumi raised a $9 million round led by Spark Capital, TechCrunch reports. The startup supplies packaging for e-commerce companies including FabFitFun, BarkBox, MeUndies or Parachute Home.
DroneBase, an online drone services marketplace, raised $12 million in a series B round of funding led by Union Square Ventures and Upfront Ventures, with participation from DJI, Hearst Ventures, and Pritzker Group, Venture Beat reports. With its latest cash influx, the company plans to improve its AirCraft augmented reality, a feature which allows users to overlay virtual objects onto images being broadcast back from the drone’s camera. The feature could be used, for example, to build an augmented-reality obstacle course for a drone or help visualize how a new structure would look.
Technology reporter Garrett Reim can be reached at email@example.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
Stories You May Also Be Interested In
- DroneBase Nets $12M in VC Funds, Expands Augmented Reality Feature
- Billionaire Peter Thiel Moving to Los Angeles
- 29. Peter Thiel
- Startup Aims to Speed Drone Flight Approvals
- Silicon Beach Report Nov. 27: Snapchat Launches Augmented Reality Product Placement
- Thiel Fund Gets Luckey
- UBeam Raising $20M Series B Round
- L.A. Tech Calendar: March 21 – April 3