LAUNCH
Seoul Robotics, with operations in Korea and Irvine, announced Dec. 7 the launch of Endeavor, a new AI-enabled, 3D perception system for self-driving vehicles, public security, and other uses.
It’s the latest iteration of Seoul Robotics’ LiDAR perception system, described as an “all-in-one deployment kit” that uses deep learning to analyze and understand 3D data. Endeavor is designed to enable autonomous vehicles in new industries, and will be ultimately used in smart cities, intelligent transportation systems, and crowd monitoring, according to the company.
Seoul Robotics was formed in 2017. In July, the Korean government recognized Seoul Robotics as an “Innovative Icon” and invested $12 million, according to Bloomberg.
“Countless companies and public organizations can benefit tremendously from having access to 3D insights, but affordability and flexibility were historically barriers to entry,” VP of Products and Solutions at Seoul Robots Jerone Floor said in a statement. With Endeavor, “companies can tap this unparalleled awareness to create more efficient businesses and cities, improve safety, and fuel mobility.”
FUNDING
Newport Beach-based SoberBuddy announced Dec. 7 the opening of a crowdfunding investment. The round will run through the first quarter of 2022, with funds used to develop the next phase of its virtual drug and alcohol recovery coaching app.
The company “is creating a culture of access to emotional and physical well-being by giving people the power to privately and affordably obtain helpful resources via our SoberBuddy platform at their own convenience,” company founder and CEO Tara Schiller said in a statement. “This funding will enable us to enhance our user experience to increase sober outcomes.”
The SoberBuddy app, which launched in 2020, features more than 2,000 “bite-sized” challenges, check-ins and other activities that use cognitive behavioral therapy techniques.
While the company reports having more than 30,000 users to date, it plans to grow its user base “exponentially” with the crowdfunding investment, officials said. It is also offering securities through New York-based sponsor Dalmore Group LLC.
“We are proud to facilitate SoberBuddy’s Regulation CF offering and are honored to be part of their mission to end shame around addiction and increase the awareness of virtual recovery resources,” said Ricardo Gonzalez, compliance officer of Dalmore Group.
Irvine’s Dispatch Goods on Dec. 6 closed a $3.7 million seed round. The financing was led by Congruent Ventures and included Bread and Butter Ventures, Precursor Ventures, and others.
Dispatch Goods, co-founded in 2019 by Lindsey Hoell and Maia Tekle, is a reverse logistics company that aims to accelerate the shift to reusable packaging by partnering with businesses like DoorDash and restaurants.
It reports over 50 restaurant customers in the Bay Area to date, from whom it collects and processes between 10,000 and 15,000 food packages a week.
“Recycling makes people think they are doing something good, but when we dug deeper, we found that we aren’t always doing good if there is no secondary market demand,” co-founder and CEO Lindsey Hoell told TechCrunch. “Containers can only be downcycled, but there is not a good infrastructure in place to collect the containers and process them.”
Hoell and Tekle sought out capital with the intention to grow the team and outfit their current facilities, including a microhub in San Francisco and a new facility in Baltimore.
They plan to invest the new funding into additional geographical expansion, and hire three more staff members by the end of the year, company officials said.
VENTURE CAPITAL
Newport Beach’s Toba Capital, the largest venture capital firm in Orange County, participated in the Series A financing for Virginia-based Strivacity, a customer identity and access management (CIAM) provider.
The $9.3 million round was led by Ten Eleven Ventures, a computer security-focused VC that previously invested in Irvine’s Cylance, now part of BlackBerry.
“Business shouldn’t be forced to choose between providing a great customer journey and keeping data secure,” Strivacity CEO Keith Graham said in a statement. “Strivacity adds secure CIAM capabilities to your online properties fast so you can grow your revenue, stay compliant with fast-changing privacy regulations and personalize your service thanks to the insights you’ll get into how customers interact with you.”
Founded in 2019, Strivacity lets brands add secure log-in and identity management capabilities to their customer-facing applications through clicks instead of custom coding.
The company will use the funding to accelerate R&D; and expand go-to market investments in sales and marketing, company officials said.
GRANT
Craft coffee company Sir Owlverick’s Coffee of Anaheim on Dec. 13 received the Jane Walker and IFundWomen’s First Women Grant, which includes $10,000 and executive coaching.
“I’m both humbled and excited to be recognized by a world-renowned brand like Jane Walker,” Sir Owlverick’s founder Amy Tang said in a statement. “I think the business world is slowly starting to recognize diversity as a strength and the First Women Grant is a wonderful example of that.”
Tang, a refugee immigrant from Vietnam, founded Sir Owlverick’s in 2016. Her grandfather grew coffee in Vietnam before moving his family and business to the U.S. in the 1990s.
According to Tang, securing funding has been difficult, especially as a minority-woman founder; big banks, even with SBA loan guarantees, wouldn’t take risks on small business startups like hers.
“We were laughed out of banks when we tried to get loans, so we are grateful to receive this grant. I don’t want to paint a woe-is-me picture. We’re going to build Owlverick’s from the ground up no matter what.”
Capital from the grant will support the development of Club99s, an at-home coffee subscription service, Tang said.
EXEC HIRESÂ
#WeAllGrow Latina, a Tustin-based organization and media platform aimed at supporting Latina entrepreneurs, and backed by one of OC’s largest private companies, named Vanessa Santos as partner and co-CEO this month.
Santos, who brings more than 15 years of experience in leadership, product management, and startups, including high-level roles at Mastercard, will work alongside #WeAllGrow’s founder and CEO Ana Flores on expanding the brand, company officials said.
“I’m humbled to be joining Ana as partner and co-CEO of #WeAllGrow,” Santos said in a statement. “To know that my involvement with this prestigious community will also fulfill my personal life’s mission of advancing the conversation and opportunities for women of color is a dream. It’s a privilege to be part of the next level of growth for the brand and the community.”
This marks the second significant move in the growth of #WeAllGrow in 2021, officials said. Earlier this year, Patty Arvielo, co-founder of the nation’s largest Latina-owned mortgage company, New American Funding, acquired a 50% majority stake in #WeAllGrow.
New American, among OC’s fastest-growing private companies, is also based in Tustin.
 “As leaders of this amazing community of creators and entrepreneurs, we are Latinas investing in Latinas and we stand ready to help build the next generation of Latina moguls,” Arvielo said.
