A weekly roundup of must-read L.A. tech investments and acquisitions.
Hyperloop One
$80 million
Type: Equity
Location: Downtown Los Angeles
Investors: Series B round was raised from more than 70 investors, according to a filing with the Securities and Exchange Commission. Investors included Sherpa Ventures, Khosla Ventures, SNCF (French National Rail), and GE Ventures.
Description: In addition to closing a fundraising round, Hyperloop One secured development partnerships with several large engineering firms and conducted a test of its railcar on a tubeless track in North Las Vegas. Over the course of just a few seconds, the railcar accelerated to more than 100 miles per hour before being intentionally slammed into a pile of sand. The firm also said it is participating in a feasibility study with Arcturan Sustainable Cargo of Los Angeles to determine how the transportation technology can streamline the movement of containers from the ports of Long Beach and Los Angeles.
Tradesy
$30 million
Type: Equity
Location: Santa Monica
Investors: Series C round was led by Wildcat Capital Management with participation from Kleiner Perkins Caulfield & Byers and Rincon Venture Partners.
Description: The e-commerce startup raised money to hire additional data scientists to analyze shoppers’ behaviors as well as to run national cable TV advertising campaigns. Tradesy connects sellers and buyers of lightly used clothing, handbags, and shoes on its website. The e-retailer focuses on listing luxury brands, such as Louis Vuitton, Hermes, and Chanel. It takes a 9 percent commission on transactions. The startup has raised $74.5 million since its founding in 2012.
Latin Everywhere
Undisclosed
Type: Equity
Location: Hollywood
Investor: Revolution Studios
Description: Revolution Studios of Santa Monica has acquired a stake in Latino digital-content network Latin Everywhere. Terms of the deal were not disclosed, but Latin Everywhere said the deal was worth seven figures. The deal gives the company access to Revolution’s library of film and television content, which includes the films “Black Hawk Down,” “xXx,” and “Maid in Manhattan.” The online content company will use the investment to launch a subscription video service. Latin Everywhere distributes Spanish-language film and television content on YouTube, as well as on iOS and Android apps. The company said it has more than 50,000 hours of content, including Spanish-language telenovelas, movies, other television shows, kids programming, and documentaries.
Emerging Markets Communications
$550 million
Type: Acquisition
Location: Miramar, Fla.
Buyer: Global Eagle Entertainment Inc.,
Description: Global Eagle Entertainment Inc., an in-flight Wi-Fi and entertainment provider, announced it had reached an agreement to acquire satellite communications firm Emerging Markets Communications for $550 million in cash and stock. The Marina del Rey company’s largest customer is Southwest Airlines, which provides Golden Eagle’s Wi-Fi system in its planes. The acquisition is being pitched to shareholders as an opportunity to diversify revenue streams and reduce costs through shared assets.
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
