With so much going on in the thriving LA tech and startup ecosystem, it is easy to miss some of the news in the space. We keep you abreast of the things that you may have missed in LA Tech news for the week ending 11/4 featuring news for Ambercycle, StarNews Mobile, and much, much more.
Charlie – $16M
Charlie, a banking and financial services platform for those 62+, has raised $16M in Series A funding from investors that include TTV Capital, Better Tomorrow Ventures, and FPV Ventures. Founded by Kevin Nazemi and Ivan Nausieda in 2021, Charlie has now raised a total of $23.5M in reported equity funding.
Ambercycle – $5M
Ambercycle, a material sciences company focused on building a circularity in the fashion industry, has raised $5M in Venture funding from investors that include DRIVE Catalyst. Founded by Moby Ahmed and Shay Sethi in 2013, Ambercycle has now raised a total of $28.1M in reported equity funding.
Harvard data scientist upends finance community with returns in this market
The AI revolution has already begun to rewire Wall St, and its impact has been strongly felt in one growing market in particular. Because, thanks to a Harvard data scientist and his crack team, everyday people can now benefit from a previously “off-limits” investment.
The company that makes it all possible is called Masterworks, whose unique investment platform enables savvy investors to invest in blue-chip art for a fraction of the cost. Their proprietary database of art market returns provides an unrivaled quantitative edge in analyzing the art market.
With all 16 of its exits, Masterworks has achieved a profit, with recent exits delivering +17.8%, +21.5%, and +35.0% annualized net returns.
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Investing involves risk and past performance is not indicative of future returns. See important Reg A disclosures and aggregate advisory performance at masterworks.com/cd
StarNews Mobile – $3M
StarNews Mobile, an Africa-focused mobile content platform focused on creators, has raised $3M in Venture funding from investors that include Janngo, Mike Maignan, Jules Olivier Kounde, and Aurelien Djani Tchouameni. Founded by Guy Kamgaing in 2017, StarNews Mobile has now raised a total of $9.1M in reported equity funding.
Gemist – $1.65M
Gemist, a direct-to-consumer custom jewelry brand, has raised $1.65M in funding according to a recent SEC filing. The filing indicates that the total offering is for $3M and there were eleven investors in this close. Founded by Madeline Fraser in 2018, Gemist has now raised a total of $7.15M in reported equity funding.
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