PARTNERSHIPS
Aliso Viejo-based AWM Smart Shelf recently partnered with workforce optimization firm Macondo Vision in Atlanta.
Macondo will use AWM’s computer vision and machine learning algorithms to track associates’ activity in warehouses and storerooms, among other locations, to provide insights on how to improve employees’ overall performance.
The collected data is sent to facility managers, who can then take steps to improve ergonomics and time management.
Macondo has four pilots running using AWM’s technology. Increasing labor costs and high turnover, in addition to the demand for same-day delivery, has exacerbated barriers to productivity in the workforce, said Frank Layo, co-founder of Macondo.
“We are singularly focused on improving human performance to help companies win in this environment,” Layo added.
The partnership reveals another use for AWM’s vision technology; it is primarily used in the company’s cashierless checkout system, called the “frictionless” shopping application.
AWM also makes LED shelf displays that allow retailers to change pricing, promotions and advertisements easily.
AWM raised an $11 million Series A round in October. The round was led by Silicon Valley’s Impact Venture Capital, in addition to Newport Beach-based firms Mark IV Capital and The Contrarian Group.
Costa Mesa-based Kargoo Inc. recently partnered with SeedInvest to raise a seed round for new hires, marketing and sales, operations and office costs.
Kargoo connects shoppers with travelers that have spare room in their luggage to transport items via mobile app. Shoppers can request items that may not be available in their region or too expensive to ship, while travelers using the app provide details of their availability and destination.
It’s a win-win for both parties, according to Chief Executive Karla Valdivieso, because the shopper saves money on shipping and handling, while the travelers earn extra money.Â
Both parties are protected in the transaction process; the traveler purchases the item and transports it, while the buyer’s money is held in escrow until the package is safely delivered. Kargoo also protects user privacy; catches contraband order requests; and tracks and maintains late deliveries.
Valdivieso launched the company this year after she realized that many people in South America lack access to items because of international shipping restrictions or high shipping costs. She is also the founder of Komlep, a product factory that helps startups validate and take their concept from ideation to creation.
The five-person company previously raised a small round of funding from friends and family.
FINANCING
Irvine-based Nfluence, which is developing a platform that helps video game streamers and influencers monetize their livestreams, recently closed a $1 million round with an $11 million valuation.
Investors include Mike Gleason, chief executive of Walter Cruttenden-backed ATM.com in Irvine; Newport Beach-based coin collector and real estate investor John Saunders; and co-founder of Home Franchise Concepts Tony Forbes.
The company has opened a new round of funding, CEO Ethen Yao said.
Nfluence has developed about 50% of its platform in the last three months with a team led by Chief Technology Officer Khalid Malik and Kashif Aslam, co-founder of Colorado-based Sheldon AI.
Features include artificial intelligence-driven validation, computer vision, campaign management, and intelligent matchmaking for influencer campaigns. The ad-tech platform allows brands to advertise via influencers’ livestreams.
The company plans to begin beta testing in January, and currently has a waitlist with up to 10,000 streamers, ahead of its 2020 launch. Nfluence’s monetization strategy is charging a 20% platform fee to both brand partners and influencers.
Nfluence is helmed by Yao, Malik and Chief Creative Officer Stephen Tyszka. Paul Sams, former COO of Blizzard Entertainment and Ed Kiernan, co-founder of Engine Shop, sit on the board. Walt Scacchi from the Institute for Virtual Environments and Computer Games at University of California-Irvine is an adviser.
Metaseismic recently received a Phase II grant from the National Science Foundation. The company, which makes materials designed to protect buildings from the effects of earthquakes, is eligible to receive up to $500,000 over the next two years in matching funds from qualifying third-party investors.
Chief Executive Noemi Bonessio, who has a Ph.D. in structural engineering, pursued a career in the field after experiencing an earthquake that killed more than 300 about 75 miles from her hometown of Rome. She is working to develop a material said to be as flexible as rubber and as strong as steel to reinforce structures by absorbing vibrations.
Bonessio focused on refining the material during Phase I; the company will use Phase II to focus on developing a new manufacturing method that could expand the technology’s application to include computer equipment and critical network infrastructure.
Metaseismic’s material would help retrofit buildings across the country, and in particularly vulnerable areas such as California, that are not ready for the next big quake.
The company previously earned $225,000 for its Phase I studies; the Phase II grant is for $750,000.
Metaseismic launched as a member of the UCI Beall Applied Innovation Wayfinder incubator in 2017.
LAUNCH
VolunteerCrowd, a member of the UCI Beall Applied Innovation Wayfinder incubator, recently kicked off its verified volunteer transcript and portfolio for college-bound students.
The portfolio displays volunteer hours by cause and organization, in addition to service recognition awards and personal references and reviews from various nonprofits. It distinguishes each students’ college application based on dedication to learning outside of the classroom and soft skills, company officials said.
Institutions are seeking more subjective measures of success such as character strengths rather than standardized score requirements, according to FairTest.
In addition to its transcript and portfolio service, which costs $8.25 a month, VolunteerCrowd is also the developer of a free mobile app and website for finding and requesting volunteer hours.
The platform was created to help pair aspiring students with nonprofits and organizations in need of volunteers. Like a job platform, VolunteerCrowd displays opportunities with volunteer requirements such as minimum age and time commitment.
“We built VolunteerCrowd to meet the need for accessible, quality volunteer opportunities, verified and delivered in a portfolio for college applications,” said Chief Executive Amy von Kaenel.
She noted that finding and showcasing volunteer opportunities are more important than ever before, and that in the wake of the college admissions scandal, there is an urgent need for “conversations about character-based indicators of success.”
ACQUISITION
Irvine-based Armatic Technologies Inc. was recently snapped up by fellow e-payment processing firm BlueSnap in Waltham, Mass. Terms of the acquisition were undisclosed.
Armatic’s technology automates the payment process from initial quotation to contract e-signing and payment via invoice or subscription.
With Armatic’s technology, which has already been incorporated into BlueSnap’s platform, the combined company will offer digital invoice management; account receivable and payments that integrate with major accounting software such as QuickBooks and Salesforce; and a self-service portal for customers.
“Today marks a major milestone for BlueSnap. B2B organizations are looking to simplify how they bill their customers and to get paid more quickly while reducing costs,” said Ralph Dangelmaier, chief executive of BlueSnap and longtime executive in the electronic payment industry.
He added, “We expect to generate tremendous growth through the addition of the Armatic team.”
Armatic’s teams in Irvine and Ukraine will stay on; BlueSnap now counts 165 employees.
