FUNDING
Irvine-based Fwaygo Inc. reported April 4 it’s seeking leading and participating investors for its open $5 million seed round. It’s also hiring software engineers, data scientists and interns.
The funds and new hires will help the $50 million-valued company to build out streamlined uploading and messaging capabilities, officials said.
Fwaygo, a music streaming and discovery app for independent artists, was co-founded in April 2021 by CEO Jeremy Greene, a social media entrepreneur, COO Janelle Greene, Jeremy’s wife, and Mercari US CEO John Lagerling. The app launched late last year.
“In the coming months, we will be integrating a distribution service into our upload process which will allow users to put their music on Spotify and Apple Music while uploading to Fwaygo,” Fwaygo CTO Eli Stewart told the Business Journal. “We will also be rolling out an update very soon that will allow users to connect and send messages on Fwaygo, which will help us enrich our artist community and facilitate collaboration as our users create and discover music together.” The company counts rapper Young Thug and New York-based TuneCore and Shakr as partners.
The minimum check size for investments is $250,000, Stewart said.
Wing Assistant—a remote work technology platform in Irvine—said March 31 it raised $2.1 million in seed funding from Surface Ventures, Brookstone Venture Capital, UC Berkeley SkyDeck and others.
Founded in 2018, Wing Assistant offers a mobile app and software platform that helps employers work efficiently with a new remote employee, including task management, communication, and quality assurance, among other tools. The company reports providing over 1,000 small and medium-sized businesses with a “well-vetted, more affordable labor pool for recurring work.”
“Wing Assistant is focused on fundamentally changing the labor market by connecting international markets. Our technology platform eases existing pain points when it comes to the challenges of employing offshore labor and outsourcing,” Wing Assistant’s CMO Roland Polzin said in a statement.
“The platform very effectively leverages today’s high interest in hiring remote workers as a way to deal with the challenge of ‘The Great Resignation.’”
Wing operates as a subscription service for its assistant services, charging businesses a monthly fee which covers the cost of the employee and includes the software suite, the company said. Its clients reportedly save about 80% of the costs they would incur with comparable U.S.-based labor.
ANGEL INVESTORS
Irvine-based Tech Coast Angels announced March 29 that Washington, D.C.-based Meda Angels will become the newest member of its network. The alliance provides both groups with better deal flow, improved investment collaboration, and more capital investment opportunities, officials said.
“We’re excited about this alliance and mutually beneficial collaboration, particularly in the areas of digital health, medical devices and robotics, diagnostic technology, wellness and other medical technologies,” Tech Coast Angels’ Chairman Jeff Lapin said in a statement. “The alliance significantly strengthens TCA’s current expertise and knowledge base in these areas, and together we will be even more attractive to entrepreneurs and young companies in these markets.”
Meda Angels is a virtual network of investors that specializes in medical technology companies with a focus on mid-seed and A-round investments. Since its inception in 2019, it has invested in 12 companies, totaling nearly $2 million.
With over 400 members, Tech Coast Angels bills itself as one of the largest angel groups in the world, with investments totaling $40 million between 2020 and 2021.
LAUNCH
Irvine-based real estate firm Revive announced March 30 the launch of its new mobile app, Revive Home.
Revive, incorporated in 2020, provides a platform to help agents, homeowners and contractors renovate pre-sale homes.
The announcement comes on the heels of the company’s new website, which launched in February.
“Home renovation projects are stressful, so we decided to bring transparency to the process, making it easier for homeowners to monitor their presale renovation with Revive Home and reduce their stress,” Revive Head of Engineering Mansoor Bahramand said in a statement.
“This app streamlines communication, allowing homeowners and agents to chat directly with their Revive team to stay up to date on their project status. Revive handles everything else. We’re all about finding new and innovative ways to make presale renovation as easy as possible.”
The newly released Revive Home tool—available on iOS and Android—allows real estate agents and homeowners to easily track their renovation projects by engaging directly with contractors and their Revive renovation team, the company said.
The company is also hiring for a number of business development, interior design and executive assistant roles, according to CEO Michael Alladawi’s LinkedIn page.
PRODUCTS
Digital farmer’s market myPanier of Foothill Ranch reports its sales have grown 272% over the past two years.
Founded in 2016 by Oxford and Harvard graduate Christophe Boyac, the “panier” in myPanier is French for “basket.” It aims to make artisanal specialty foods available around the world by shipping them to its customers, according to the company’s website.
The seed-stage company’s total funding amount hasn’t been publicly disclosed. It ranks No. 50 on Inc.com’s recent list of the top 150 fastest-growing companies in the Pacific region.
“We’re building a marketplace to help local food artisans to reach out to a larger audience, so they can sell outside their market of origin,” Boyac said on his LinkedIn page. “We provide solutions to artisans and farmers to promote their brand, increase their volume, and connect directly with consumers.”
PARTNERSHIPS
Seoul Robotics, an AI-enabled perception software developer in Irvine, reported April 5 being inaugurated into application development program Nvidia Metropolis.
“As we expose more customers to this technology, the demand for performance goes up and, in turn, more computing power is required. For example, our recently released inclement weather filter feature uses advanced AI algorithms to filter out noise caused by snow, dust, rain and hail,” Seoul Robotics’ VP of Product Jerone Floor said in a statement. “With our introduction into the Metropolis program, we gain access to a robust set of resources that will further our mission to usher in a new era of autonomy.”
Seoul Robotics, founded in 2017, is maker of the first perception software that leverages deep learning AI, according to the company.
Its platform, Sensr, monitors and interprets 3D data in real time and is compatible with over 75 commercially available 3D sensors. Though its technology, the company aims to encourage efficiency and security for industries and urban areas.
It has offices in Seoul, Munich, California, Raleigh, and Detroit and is backed by leading global financial institutions, the company said.
