Powered Up: UBeam, a Santa Monica wireless power company, has raised $10 million in a Series A round led by Upfront Ventures, also in Santa Monica. Existing investors Mark Cuban, Menlo Park’s Andreessen Horowitz and Detroit’s Ludlow Ventures also participated in the financing round.
MARINA DEL REY
Movie Stills Move: Capital Art Inc., a Marina del Rey seller of limited-edition, fine-art Hollywood prints, has acquired the assets of Las Vegas’ Movie Star News, a Hollywood photo archive with more than 100,000 negatives and 1 million original studio photos. Financial terms of the deal were not disclosed.
Cinema Deal: San Francisco’s Dolby Laboratories Inc. has closed on its purchase of Doremi Labs, a Burbank digital cinema equipment company. The deal, announced in February, was for $92.5 million in cash and $20 million in contingent compensation. The Bay Area audio and video tech company said the Doremi pickup will improve its theatrical business.
SAN GABRIEL VALLEY
Stem Cell Research: City of Hope, a Duarte cancer treatment and research hospital, has been awarded $8 million to launch its Alpha Clinic for Cell Therapy and Innovation. The clinic will focus on cures for incurable diseases such as HIV and some brain tumors. The money comes from a five-year grant from the California Institute for Regenerative Medicine in San Francisco.
DOWNTOWN LOS ANGELES
Online Ads: Social Reality, a downtown L.A. Internet ad company, has announced $25 million in committed financing, a portion of which went toward acquiring New York digital ad firm Steel Media. A $20 million credit facility was provided by Chicago asset management firm Victory Park Capital, while existing investors financed an additional $5 million in new equity. Financial terms of the Steel deal were not disclosed.
Nasdaq Delisting: Point.360, a Glassell Park postproduction house, is planning to delist from the Nasdaq Capital Markets on Dec. 1. The company said its board decided to delist because of its thin trading volume and its shares having fallen below Nasdaq’s $1 minimum. Shares will continue to trade under the PTSX symbol.
Making Play: Toy and party e-commerce company P.S. XO, a division of Mid-Wilshire startup Moonfrye, has merged with Irvine toy and crafting business Seedling. The merged entity, which will be known as Seedling, plans to set up headquarters in Los Angeles. Seedling announced it had raised $7 million from Santa Monica’s Upfront Ventures and Greycroft Partners, which has offices in New York and Santa Monica.
Retail Pickup: A family trust has acquired a Miracle Mile retail strip for $4 million from L.A.’s Festival Cos. The 6,340-square-foot Shops at San Vicente, at 5600-5610 San Vicente Blvd., was 78 percent occupied at the time of sale.
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