MTech Capital’s new $75M fund for “InsureTech;” smart key maker Openpath raises $20M; Pelican Products has an new consumer marketing team leader

MTech Capital Announces $75 Million Fund

Venture capital firm MTech Capital, based in Los Angeles and London announced a $75 million fund dedicated to investments in insurance technology, Socaltech reports. Investments in the new “InsureTech” fund came from NN Group N.V., a Dutch life insurance company and CNA Financial Corp. MTech Capital was founded by Kevin McLoughlin and Brian McLoughlin in 2016.

$20 Million Funding Round for Openpath

Openpath Inc, Marina del Rey-based developer of smartphone-linked access control systems for businesses, announced Tuesday it raised $20 million in a series B funding round. The latest round was led by Emergence Capital, with participation from Upfront Ventures, Fika Ventures and Prizker Group Venture Capital, which all had made seed investments in Openpath in May, Socaltech reports.

Lim Appointed New Consumer Marketing Lead

Torrance outfit Pelican Products Inc. hired Jennifer Lim as its new consumer marketing team leader, CNBC reports. Lim previously worked at Hyundai, Harman/Kardon and Beats by Dr. Dre, and will oversee marketing efforts alongside PR and social media. A graduate of University of California - Los Angeles, Lim has over 15 years of experience in the field. Pelican Products manufacturers cases for mobile devices, camera products, and military-grade equipment for firefighters, police and defense use.

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