AppOnboard raises $15 million in Series A funding round; San Francisco to Bird: ‘Cease and desist;’ Elon Musk’s Boring Co. raises $112.5 million.
AppOnboard Raises $15 Million in Series A Funding Round
AppOnboard, a Los Angeles-based mobile technology platform that creates demos for apps, announced a $15 million Series A round led by Korea Investment Partners (KIP) with contributions from Mirae Asset Management, Mantaray, MTG and Runa Capital, the Business Journal reports. The capital infusion brings their total funding to $20 million.
San Francisco to Bird: ‘Cease and Desist’
The “last-mile” electric scooter startup Bird has been served a “cease and desist” letter by the City of San Francisco, alongside competitors Lime and Spin, Socaltech reports. According to the San Francisco City Attorney, the companies are “creating a public nuisance on the city’s streets and sidewalks and endangering public health and safety.” As part of the move, San Francisco’s Public Works department has begun confiscating scooters that obstruct public space on San Francisco’s streets, just a month after Bird moved into the Bay Area market.
Elon Musk’s Boring Co. Raises $112.5 Million
The Boring Company, Elon Musk’s tunnel business, raised $112.5 million in equity funding, per an SEC filing uncovered by PitchBook. The only individuals listed on the filing are SpaceX director Steve Davis and Jared Birchall, who previous filings have named as an executive at Neuralink, another one of Musk’s spin-offs. The address listed on the filing seems to belong to the law firm Carr McClellan. The funds came mostly from Musk’s own wallet, with the remainder coming from early employees, the company confirmed to PitchBook. The Boring Company is building a network of low-cost tunnels for the Hyperloop transportation system, which will launch pods through low-pressure tubes at more than 600 miles per hour, allowing for possibilities like a 30-minute trip from New York to Washington, DC.
Technology reporter Eli Horowitz can be reached at [email protected]. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.
