PARTNERSHIPS
Turion Space Corp., an Irvine-based aerospace firm that aims to build spacecraft to remove orbital debris and provide services to existing satellites, has signed a multi-launch agreement with New York-based reusable rocket startup iRocket.
Founded in 2020, Turion Space is making a spacecraft that it says will rendezvous and dock with satellites and large debris objects. Its spacecraft uses vision sensors, robotic arms, and a propulsion system to either deorbit or change the orbit of the current satellites and large debris objects, enabling earth orbits to remain sustainable in the coming years.
iRocket says it builds 100% “fully reusable rockets” for a variety of satellite types; it’s currently funded by the U.S. Space Force.
“Turion Space looks forward to a strong partnership with iRocket for access to space and for providing us with a pipeline of future customers that will utilize the final orbit delivery services our Droid spacecraft can provide,” CEO of Turion Space Ryan Westerdahl said.
Turion Space officials said it plans to launch their D-1 satellite in October 2022.
INCUBATORS
Westcliff University, a private university in Irvine, has launched its new center for technology and entrepreneurship, the Innovation Hub, effective Nov. 1.
The Innovation Hub will house several programs, including the newly launched academic incubator IGNITE, the Strategic Management of Applied Research and Technology capstone program for MBA students and the Distinguished Innovator Speaker Series, among others.
The incubator allows startups to work on campus with Westcliff students. Its first five participating companies include FynCom, a nanopayment company; AONDevices, a semiconductor company specializing in application-specific edge AI processors; Seekrz, a mobile trading platform for pre-owned streetwear; BrainLeap Technologies, a provider of video games to help children with attention challenges; and Saya Life, a company using AI to predict water quality.
“The Innovation Hub and the IGNITE incubator underscore our commitment to the continuous innovation required to arm students with the ability to thrive in the world of work after graduation,” Barry Sandrew, Westcliff’s director of entrepreneurship, said in a statement. “Westcliff is proud to be working alongside students to ensure their academic and career endeavors are successful and that they are prepared for the demands of today’s hyper-competitive business environment.”
The Innovation Hub’s other offerings include the Entrepreneur in Residence program and the Full Stack Coding Bootcamp certificate program.
Current programs are still being expanded, while new programs are on the way, university officials said.
LAUNCH
Costa Mesa-based inVibe Labs announced Nov. 2 the launch of TrialPulse, a technology platform to help pharmaceutical companies gain patient insights during the drug development process.
TrialPulse is built upon the voice research startup’s existing technology services; inVibe says it provides commercial life science companies with patient insights through machine learning.
“Our motivation to create TrialPulse stemmed from the understanding that clinical trial design and drug development strategies have a cascading effect throughout the life cycle of treatments,” Chief Executive of inVibe Fabio Gratton said. “Without patient input, viable drug candidates can be rejected, and problematic drugs pursued. That ultimately costs pharmaceutical companies billions, and negatively impacts public health. TrialPulse helps clinical teams access these much needed patient insights, and do so with agility, cost-effectiveness, and to scale.”
The platform was inspired by the FDA’s Patient Focused Drug Development (PFDD) guidance and in conjunction with Congress passing the Cares Act, which provides guidance for ensuring patient voices are heard during drug development.
BOARD HIRES
Vibrato Medical has appointed Paul LaViolette to its board of directors, the Irvine-based medtech firm reported Nov. 4.
Founded in 2016, Vibrato Medical says it’s developed the first noninvasive, wearable ultrasound device designed to promote vasodilation and vessel growth; it’s designed to treat patients with critical limb ischemia (CLI), an advanced stage of periphery artery disease (PAD), in their homes.
LaViolette has over 40 years’ experience in global medical technology management and is currently a managing partner and chief operating officer at SV Health Investors (SVHI), a specialist healthcare fund.
“Paul has helped bring forward so many ground-breaking and life-changing innovations. The contributions he has made to the medical technology industry have left a profound impact,” CEO of Vibrato Medical Juliana Elstad said in a statement. “Paul knows firsthand the challenges medical technology innovators face, and his deep understanding of healthcare and experience guiding companies of varying sizes will provide the Vibrato board with valuable insights as we look to grow our company and create a new therapy. We’re very excited to have him join Vibrato.”
In September, the startup closed a $4 million Series A round led by Newport Beach-based investment firm Horowitz Group and received an additional $1.5 million grant from the National Institutes of Health (NIH) to support the clinical trial of its novel device.
FUNDING
Givsum of Newport Beach announced Nov. 5 a $2 million seed round led by VC fund SteelBridge Labs.
Givsum is a SaaS platform that helps charitable organizations save time and money through an integrated suite of fundraising tools including donation pages, ticketing, memberships, and now real-time online and mobile auctions, the company said.
It reported its revenue has grown 200% in the prior year; over 500 nonprofits and service clubs across the United States have joined the platform as customers to date.
“Givsum continues to exceed milestones with new client sign-ups and technology advances. We are excited to deepen our investment with this follow-on funding and we look forward to continuing our support of Shawn and his team,” SteelBridge Labs co-founder and Managing Partner James Haluszczak said.
The seed round will fund brand expansion and the marketing of Givsum’s basic subscription service, which includes online auctions—a market that is expected to grow by $1.61 billion during 2021-2025, according to Global Newswire.
In addition to what will be raised from professional investors, Givsum said it is working with Wefunder to extend the investment opportunity to grassroots angels looking to invest in an early stage company.
Fia Skin and Beauty, a pre-sale, beauty tech startup from Newport Beach, is seeking angel investors for its inaugural product, the Fia Mask, according to co-founder and CEO Kent Booker.
The Fia Mask uses industrial air priming to treat oily skin and prevent makeup from smudging throughout the day. Booker, a mechanical engineer with a background in automobiles and plastics, created the device for his wife, Irma, at the Costa Mesa-based The Urban Workshop, he said.
“I made her a machine to help her makeup resist her oily skin. Then, she told me I had to get it on the market,” Booker told the Business Journal. “Here we are, three years later, about to kick off some low volume prototype tools in China. It’s pretty crazy.”
The base machine charges a clear acrylic mask with an electrostatic surface charge for 15 seconds, the mask then sits on the face after washing and before makeup application, according to Booker.
Fia is currently working with Santa Ana-based marketing firm Bastian Elevate and AnDesign in Costa Mesa for prototype design. The Fia Mask is slated to hit the market in the first quarter of 2023, but with more funding, the process can be accelerated, Booker said.
“We feel very lucky that we’re in Orange County because there’s a lot of energy for companies like ours.”
