Former Riot Games execs raise $2.5 million for Singularity 6; WeWork acquires Teem; Boring Co. lands approval for parking garage tunnel
Former Riot Games Executives Raise $2.5 Million for Singularity 6
Sawtelle-based Singularity 6, formed by previous Riot Games veterans Anthony Leung and Aidan Karabaich in March 2018, raised $2.5 million in a funding round. VentureBeat reports London Venture Partners contributed the investment, and that the funds will be used to build a game studio and develop new content.
Greycroft-backed Teem Acquired by WeWork
Downtown-based venture investor Greycroft Partners sold its portfolio company, conference room management software builder Teem, to New York–based WeWork Companies Inc. on Sept. 12. Socaltech reports the financial terms were not disclosed but that Teem, founded 2012, has more than 100 employees and will soon provide its services through WeWork’s product line, “Powered by WeWork.”
Boring Co. Receives Hawthorne Approval for Tunnel
The City of Hawthorne has approved Elon Musk’s Boring Company to build a tunnel shaft on property 120 St. near Prairie Ave. The property will likely house a private garage complete with a Boring Co. prototype tunnel and shaft. ArsTechnica reports the shaft will eventually be used to lower and raise cars, allowing them to access to the tunnel without leaving the garage.
