A weekly roundup of must-read L.A. tech investments and acquisitions.
$3.75 million
Type: Equity
Location: Venice
Investors: Series A round led by Upfront Ventures with participation from Queensbridge, Mesa, Daher Capital and Joanne Wilson
Description: Besides a few throw pillows and candles, Parachute focuses on selling linen over the Internet. The company believes it can go big in the bedding industry, through luxury branding, customer service and e-commerce efficiency. According to a blog post by Upfront Ventures, the company sold $1 million worth of sheets in its first 12 months.
$2 million
Type: Equity
Location: West Hollywood
Investors: Seed round funded by Resolute Ventures
Description: Orbitera is a platform that allows software makers to sell their SaaS or client-based programs online. Via Orbitera’s, software companies can also offer up trials before purchase and manage subscription billing. Customers include Oracle and NetApp.
$2 million
Type: Equity
Location: Tarzana
Investors: Seed round funded by World Innovation Lab
Description: Reload Studios said in a statement that it is developing the “first online multiplayer shooter for virtual reality,” a game called World War Toons. The startup said it plans to launch the cartoonish combat game on several virtual reality and non-virtual reality platforms. Core to the game’s development are efforts to create “free navigation within a VR space, while mitigating the potential for motion sickness via proprietary control schemes and settings.”
$1 million
Type: Equity
Location: Glendale
Investors: Seed round includes a mix of 11 undisclosed angel and venture capital investors
Description: Entropix’s image software is something you’d see in a spy movie. By drawing a box around a portion of an image, and harnessing several supercomputers, Entropix claims its program can enhance a picture 9 to 16 times its original resolution. Right now, that technology is being used to upgrade the capabilities of generic security cameras, but Chief Strategy Officer and co-founder Nathan Wheeler said, it is “something everyone from GoPro to movie producers would be interested in.”
Amount undisclosed, but TierConnect’s 115 employees will join Mojix’s 50
Type: Acquisition
Location: Los Angeles
Deal: Mojix buys TierConnect of Plymouth, Mich.
Description: Though the acquisition amount was undisclosed, it was partly financed with a $14 million Series D round Mojix raised in January. Mojix has raised more than $64 million in venture capital since its founding in 2004. Mojix makes a radio receiver that locates radio-frequency identification (RFID) tags on clothing in retail shops, parts in manufacturing facilities or goods being shipped. The deal for TierConnect brings software in house that can track, analyze and visualize the placement and movement of those RFID tags. Related: Mojix Tracks Down Software Company
*Some funding data provided by PitchBook
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
