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Thursday, Feb 22, 2024

Silicon Beach Report May 22: Openpath Launches with $7 Million Raise

Upfront, Pritzker Among OpenPath Backers

Culver City-based Openpath, which makes access control units for businesses, announced May 22 it received $7 million in backing from Upfront Ventures, Pritzker Group Venture Capital and Fika Ventures, among others. The company was founded by Alex Kazerani and James Segil formerly of EdgeCast Networks, which was acquired in 2013 by Verizon for $350 million.

SpaceX Launch Successful

Hawthorne-based Space Exploration Technologies Corp. successfully launched another Falcon 9 rocket May 22, Ars Technica reported. While the rocket’s two payloads were delivered without a hitch, SpaceX failed to recover the payload fairing – the nose of the rocket where the goods are stored – something the company has been attempting as part of its reusable rocket plan.

Halogen Ventures Backs TheSkimm in $12 Million Series C

Santa Monica-based Halogen Ventures was part of the group of investors backing email newsletter and millennial women’s news outlet TheSkimm, SoCal Tech reports. Halogen Ventures is run by Jesse Draper and recently closed its own $10.4 million raise as part of its first fund.

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