Seed Round: Fliptu, a Hollywood developer of social media aggregation tools for brands, has raised $1.2 million in seed funding and has exited from beta phase into full release. Investors include New York’s Scout Ventures and Rick Dalzell, former chief information officer for Amazon.com Inc.
New Handle: OriginOil Inc., a West Adams maker of water cleanup technology, has changed its name to OriginClear Inc. Origin Oil began as a developer of algae-into-oil technology but has since expanded into water separation technologies. The company’s OTC sticker symbol will remain “OOIL.”
Multifamily Sale: Wiseman C Living Trust has sold a Miracle Mile-area apartment building for $5.7 million to BH Miracle Mile Group. The 22,000-square-foot, brick-constructed Linda Manor Apartments, at 456 S. Cochran Ave., holds 32 units and was built in 1920.
More Money: Campus Steps, a Santa Monica-based Internet platform that helps guide middle and high school students toward college, has secured an additional $1 million toward its recently opened Series A, on top of closing its $2 million strategic investment. Investors include Chicago’s OCA Ventures and Santa Barbara’s Rincon Venture Partners.
Hooked Up: Switching Concepts, a Santa Monica provider of turnkey telecommunication switching services, has been acquired by X5 Solutions, a Seattle telecommunications company. X5 Solutions said the acquisition expanded its reach as well as the company’s cloud services. Financial terms of the deal were not disclosed.
Shot in Arm: Precision Health Economics, a consultancy and analytics firm in Westwood, has been acquired by Precision for Medicine, a Bethesda, Md., drug development and commercialization services company. Precision Health Economics will become a part of Precision for Medicine consultancy division, Precision for Value. Financial terms of the deal were not disclosed.
SAN GABRIEL VALLEY
Moving In: Life-science incubator Lab Launch Inc. has leased nearly 11,000 square feet of creative office and lab space at 605 East Huntington Drive in Monrovia. The company, which plans a summer launch, will charge fees starting at $1,200 a month for about 10 feet of bench space and access to equipment, desks and meeting rooms.
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