FINANCING
Rael Inc., a feminine products and skincare brand, nabbed $4.4 million in funds this month, according to regulatory filings.
The investment brings the Buena Park-based company’s total reported funding to nearly $24 million, including a $17.5 million Series A round in 2018.
Backers of the organic brand include equity arms of Britain-based Unilever and Los Angeles-based organic grocery company Thrive Market.
Rael, which has almost 40 employees companywide, is also reported to have support from a number of South Korean-based venture firms including SoftBank Ventures Korea; the company’s manufacturing activities are based in the country.
The three-year-old company has expanded its product line to encompass acne and heat patches, face wipes, sheet masks and other beauty products.
Rael unveiled a line of moisturizes and cleansers in February, which are currently available through its website and range in price from $24 to $38.
Zorachka Inc. of Ladera Ranch this month announced a $12 million seed round of financing from undisclosed angel investors and high-net worth individuals.
The company is the developer of the ‘Homam,’ a home camera about three inches in width, height and depth that comes with a 160-degree field of view and embedded storage.
One of the key advantages of the product is that users don’t need to pay cloud-based storage fees because of the hardware’s embedded storage, according to Chief Executive Ruslan Vinahradau.
The product can be used to capture happy moments or for home security purposes, the company says on its website. It is accompanied by a consumer-facing app that creates time-lapse videos and highlights memorable moments.
Homam is currently in beta testing, and is expected to be available for purchase next year, the company said.
Abbot’s Butcher Inc., a Costa Mesa-based plant-based gourmet meal provider, raised $550,000 from two undisclosed investors this month.
News of the financing comes about two months after Abbot’s Butcher hit shelves at Whole Foods Market across Southern California, Arizona, Nevada, and Hawaii.
The company’s chorizo, chicken and beef sausage products, which are largely made of pea-based protein, vegetables and herbs, are also available in Mother’s Market and Kitchen and Los Angeles-based specialty chains Earwhon Organic Grocer & Cafe and Lassen’s Natural Foods & Vitamins.
Abbot’s Butcher previously raised a $1 million seed round led by New Crop Capital of New York last year.
PARTNERSHIPS
Tustin-based tech firm Zigzy announced its real estate product, called Townify, will be integrated into New American Funding’s lending operations.
New American Funding, also based in Tustin, was among Orange County’s fastest-growing private companies this year with two-year revenue growth of 70% to $823.7 million for the year ended June 30, 2020.
Townify, which launched in March, includes tools that help real estate agents host virtual open houses, manage their pipeline, automate branded marketing, manage social media content, and monitor real estate production data.
The product also provides agents with transaction contacts, such as the loan originator, listing agent, title company, escrow officer and others.
“The home buying process is made up of many decentralized entities disjointedly working with one another to help a single individual or party purchase a home,” Zigzy says on its website. “Our goal is to bring them together.”
The company, started in 2019, says its developing two additional products for home shopping and loan officers. It listed eight open positions on its website at press time.
LAUNCH
Medical device maker Coala Life of Irvine started its telemedicine service for patients experiencing cardiac challenges this month.
Physicians can now write patients a prescription—covered under most major health plans—for the company’s remote monitoring device, which uses sensors and an integrated stethoscope to provide ECG analysis and heart sound recordings.
The device provides user data to their healthcare providers via the cloud, and can help alert physicians to cardiac arrhythmias or other conditions.
Coala Life said its product is useful for long-term monitoring of conditions or cardiac issues post-COVID at home.
“We are helping to provide tele-cardiology services to every US home—with a minimal out-of-pocket expense,” said President Philip Siberg, who noted the service is ideal for patients in rural areas of the country or those who don’t want to travel to their physician.
Coala Life has raised $22 million in funding, including a $10 million round last year ahead of its entrance into the U.S. market; the company was founded in 2015 in Sweden.
REGULATORY NEWS
Vertos Medical Inc. announced this month the Centers for Medicare and Medicaid Services will increase the Ambulatory Surgery Center reimbursement for its spinal procedure by 41%.
The Aliso Viejo-based medical device firm said the average reimbursement would increase from $2,803 to $3,941, effective Jan. 1.
Vertos is the developer of a minimally invasive lumbar decompression procedure, which restores space in the spinal canal through an incision smaller than the size of a baby aspirin, the company said.
Advantages of the procedure are that it generally takes an hour to complete and it does not require anesthesia, implants, stitches, steroids or opioids, the company said.
The ‘mild’ procedure is a treatment option for patients suffering from lumbar spinal stenosis, a condition that causes pain, cramps in the legs and can cause difficulty walking or standing for long periods of time.
Vertos, whose procedure has treated more than 30,000 patients to date, last raised $28 million in an investment round in 2017, according to regulatory filings.
