Investment
• Costa Mesa-based Opkix Inc. raised $5.7 million in a Series B round as it nears production on a premium, wearable smart camera.
The funding, led by private investors, boosted the company’s valuation to $200 million, according to co-founder and Chief Executive Lawrence Greaves.
“We’re actually starting to ship as soon as four to five weeks,” he said. “And it’ll be made in Orange County.”
The Opkix One bundle package, which includes a charging cable, four flat mounts, eyewear, selfie-stick, necklace and ring, costs $500—one of the highest-priced wearables on the market.
An accompanying free app allows users to instantly edit and share photos and videos.
The startup, established last year, has raised $11.8 million from over 60 executives and entertainers, including Sumerian Records and Films founder and Chief Executive Ash Avildsen; two-time Olympic Gold Medalist in sailing Dorian van Rijsselberghe; and World Surf League tour’s Joel Parkinson.
Bob McKnight, founder and former chief executive of Huntington Beach-based Quiksilver, is a seed round investor.
Opkix employs 16 and has a component supply partnership with Fountain Valley-based Kingston Technology Inc., OC’s largest consumer electronics maker with estimated revenue of $6.6 billion last year.
— Chris Casacchia
• Technology incubator EvoNexus is seeking startups to join its coworking location at University Research Park in Irvine.
The company is accepting applications through Sept. 14; interested companies can apply through the EvoNexus website.
It has begun to take an equity stake in its startups ranging from 1% to 5%.
The University Research Park coworking site, The Vine, runs about 10,000 square feet; space is provided by Newport Beach-based Irvine Co., which is a partner in the incubator. EvoNexus also has a location at an Irvine Co. property in San Diego.
EvoNexus said that it incubates companies for an average of 18 months. About 80% of the 187 startups that have graduated from it are still in business and have raised over $1.5 billion.
— Mark Mueller
Launch
Event-ticket reseller FlipTix is set to launch its mobile app at Kaaboo Del Mar, an arts and music festival in San Diego, this month.
The Newport Beach-based platform, led by brothers and co-founders Jaime and Brian Siegel, is designed to create a marketplace where event goers can resell their tickets to someone in need of a ticket when they leave a show, concert, or sporting event.
The transparency with this “fan-to-fan” model creates an orderly market and removes the “sketchiness-in-between,” according to its website.
“Basically you can see a show and get some money back,” the company said on its website.
Founded in 2016, FlipTix raised a $1.1 million seed round in January. Denver-based 4 Clover Capital Corp. led the round.
It plans to raise another round of funding this year; it’s aiming to raise more than $10 million. Proceeds will be used for marketing and growing its internal tech team.
Jaime, the company’s chief executive, said the idea for FlipTix came from a number of personal experiences.
He also serves as chief executive of Cerebral Assets LLC, a Newport Beach-based intellectual property advisory firm. Prior roles include vice president and senior IP counsel at Sony Corp. of America.
He’s seen his share of concerts. Siegel has been a national trustee for the Rock and Roll Hall of Fame and Museum since 2010.
Brian is a FlipTix board member and the company’s president. He was previously executive director of consumer sales and sales planning for North America at Lenovo Group Ltd. as well as head of web and e-commerce at Sony’s San Diego office.
Advisers to the company include Experian Chief Technology Officer Josh Manna and former Ticketmaster Executive VP Greg Consiglio.
Events
Wednesday, Sept. 5
• Startup Lessons Learned from the School of Hard Knocks (CSUF Startup), Irvine, noon, free, (657) 278-3464, goo.gl/ZUQ3dN
• “Informal Pitchfest” for Startups (Techsparks OC), Huntington Beach, $15-$25, goo.gl/qUx6H1
Friday, Sept. 7
• Lunch and Learn (UCI Applied Innovation), Irvine, noon, free, (949) 824-2683, goo.gl/t9FQqX
Monday, Sept. 10
• Startup Scrimmage, Pitches & Monday Night Football (UCI Applied Innovation), Irvine, 4:10 p.m., free, (949) 824-2683, goo.gl/yLzCe7
Tuesday, Sept. 11
• Identifying and Protecting your IP: 1 on 1 Office Hours (CSUF Startup), Irvine, time varies, free, (657) 278-3464, goo.gl/1v19ch
Wednesday, Sept. 12
• Marketing Planning for Entrepreneurship (CSUF Startup), Irvine, 6 p.m., free, (657) 278-3464, goo.gl/NJnXq7
RECURRING
• 1 Million Cups (UCI Applied Innovation), Irvine, every Wednesday, 7:45 a.m., free, (949) 824-2683, innovation.uci.edu
