FUNDING
Irvine-based Marque Luxury, a provider of pre-owned luxury goods, said Nov. 19 it landed $20 million in funding through an investment from Singapore’s Provident Capital Partners.
“We are pleased to announce this funding round and appreciate our team’s efforts in maintaining and growing Marque Luxury’s presence in the promotion of sustainability within the circular economy,” Marque Luxury’s co-founder and President Quentin Caruana said in a statement.
Founded in 2017, Marque authenticates pre-owned luxury handbags, small leather goods, accessories, watches, jewelry and other accessories, selling them through its online shop and physical showrooms it calls recommerce hubs.
It currently has lacations in Irvine, Los Angeles, New York, Atlanta, Miami, Las Vegas, Dallas and Charlotte. It also has lacations outside of the U.S., including in Japan and Hong Kong.
Marque said it would use the capital infusion for mostly North American expansion.
CONTRACTS
Everguard.ai, an Irvine-based developer of a computer vision safety platform for industrial environments, said Seah Besteel, a Korean steelmaker, will expand the use of its Sentri360 platform.
The “multimillion-dollar expansion” will further protect workers at Seah’s manufacturing plant in Gunsan, Korea, the company said.
“To be the world’s leading special steel maker, we must continue making the safety of our company the number one priority throughout our organization,” Seah Besteel CEO Jun-Doo Park said in a statement. “The expansion of the Sentri360 platform within our facilities allows us to continue to operate at the highest possible level of safety and efficiency.”
Everguard.ai says it has built a technology-agnostic safety platform with machine learning and computer vision technologies. It uses cameras, sensors, wearable devices and artificial intelligence to provide alerts and warnings to ensure worker safety in steel mill and other industries.
The startup has raised $6.5 million in seed funding since its incorporation in 2019, according to Crunchbase.
Boston-based BCG Digital Ventures and Seah, which counts an American affiliate with a base in Irvine, provided an initial investment for Everguard.ai in 2019.
“We value Seah’s confidence in our technology,” Everguard’s CEO Sandeep Pandya said.
ACQUISITIONS
Clubspeed, an Irvine-based provider of venue management software for a variety of family entertainment centers, recently aquired Vantora, an online booking and waiver software vendor based out of Texas.
Terms of the deal were undisclosed.
Clubspeed reported the transaction will grow its customer base from 500 to 700 across more than 46 countries.
Clubspeed was founded in 2005. Its software is used to increase revenue, improve efficiencies and streamline operations for arcades, facilities, trampoline parks, mini-golf spots and other family-friendly entertainment venues.
Vantora is a cloud-based reservation and waiver-signing system for paintball venues and other entertainment centers.
The deal “uniquely positions our business to continue scaling,” Clubspeed CEO Alok Pandey said in a statement. “Solving our customers’ pain points through software and modern technology is vital as we find ways to drive more revenue, streamline their operations, and enhance the guest experience.”
Vantora founder Larry Dague will be retained by Clubspeed as a consultant.
MEDICAL DEVICES
Amplify Surgical Inc., a spinal device company in Irvine, said that Dr. Don Young Park performed the first dualPortal endoscopic spine procedure at UCLA Health on Nov. 23, representing a “significant milestone” for the company and the advancement of endoscopic spine surgery.
“It is encouraging to witness a vision that was once just a thought become real life,” Amplify Surgical CEO Andy Choi said in a statement.
Founded in 2017, Amplify Surgical focuses on the development and commercialization of minimally-invasive, innovative spinal technologies; its dualX system consists of three titanium implantable devices designed to restore disc height and sagittal alignment in lateral lumbar interbody fusion, a procedure that fuses the front and back section of the spine, the company said. The technology received FDA clearance in 2018.
The latest device “has completely changed my practice,” Park said. “The visualization is much improved as compared to the microscope. There is really no limitation to what I can do with the dualPortal technique.”
PRODUCTS
Costa Mesa’s TrunkMate, which builds camping kits for cars, said Nov. 29 it is hiring a marketing specialist with SEO and social media expertise.
“I realized I’m at a place where I can expand and get the word out,” founder and CEO of TrunkMate Grant Miller told the Business Journal. “My products are a subset of the ‘vanlife’ and ‘overlander’ communities. The market is very ripe for this.”
TrunkMate, founded earlier this year at Costa Mesa-based makerspace The Urban Workshop, develops two products: the Elevation Kit, an all-in-one kitchen, bed and storage module, and the Blitz Bed, a single bed that fits into a Prius, Miller said. The Elevation Kit currently retails for $2,000, while the Blitz Bed costs between $500 and $1,000 depending on bed size.
Miller, 31, studied geology at Texas A&M; University. The idea occurred to him when working at Yosemite National Park.
“I saw the setups people had in their vehicles, often built by themselves, and noticed a growing trend,” Miller said. “I got fascinated with the idea of what you could get away with: by having your bed in your car, you don’t have to structure your whole trip around where you will stay each night. There’s freedom in that.”
TrunkMate’s incoming product is a Flat Pack, an economical, DIY camper kit that comes disassembled and can be tailored to any car size, Miller said.
“Like Ikea furniture, it would give the product to infinitely more people and fit together in several minutes.”
LAUNCH
Elaqua Marine, a jet ski manufacturer in Irvine, announced the forthcoming launch of a new line of what it calls 100% electric, tech-enabled jet skis.
Co-founder Dimphna Francsisca said in a statement: “We currently have over 10 patents pending with the patent office and we’re extremely excited to get our jet skis into people’s hands and have them love it just as much as us.”
The new watercraft is said to feature a carbon fiber body, 7” touchscreen panel, and GPS tracking, the company said. It is billed as being able to reach up to 70 miles per hour at 180 horsepower, while using no fuel.
The company’s first units are slated to ship in the summer of 2022. The firm has yet to disclose its size, source of funding, or the location of its operations in Irvine.
