People
Aliso-Viejo based AWM Smart Shelf appointed Leo Tsourides as head of science.
AWM makes digital LED shelf displays for store products.
The company’s products are designed not only to attract customers to what’s on the shelves—the LED display can showcase words, images and videos—but also use artificial intelligence to gather data, such as demographic and shopper behavior.
Before joining AWM, Tsourides worked at Facebook as a researcher and for the Massachusetts Institute of Technology’s Department of Brain and Cognitive Sciences as a research affiliate, according to his LinkedIn account.
AWM co-founder and Chief Executive Kevin Howard said “his background and experience will allow the fast-tracking of AWM’s vision library and our Frictionless Shopping application.”
AMW has raised $2 million.
Investors include Newport Beach-based Mark IV Capital, which is best known for its local commercial real estate portfolio, and Peter Ueberoth’s Contrarian Group Inc.
The company’s website currently lists five job openings, including engineering, design and data scientist positions.
— Brian Alvarado
Funding
BLD Capital LLC is hands-on when it comes to portfolio companies, picking opportunities that are “fun, cool,” according to Doug Pak, a principal.
The incubator-accelerator is the newly launched investment arm of Newport Beach-based BLD Brands LLC, which specializes in chain restaurant and franchise business, operating restaurant brands such as Papa John’s Pizza and Hardee’s.
Pak said BLD Capital has invested in several new companies since the Business Journal reported the incubator joining the OC startup scene in July.
Recent investments include San Francisco-based on-demand wood-fired pizza delivery platform Firepie and Irvine-based gifting platform Bouquet Bar. He declined to disclose the amount invested.
• The latest round is growth capital for Bouquet Bar, which will be used for improving website experience and adding more gift options. Co-founder and Chief Executive David Yusuf said the company has had strong growth since its appearance on ABC’s “Shark Tank” at the beginning of the year.
The luxury gifting service provider provides a wide array of gift options, including lavender chocolate drops, flowers and succulents. Customers can select items to customize their boxes.
The company was founded last year.
• “Who doesn’t love pizza?” Firepie Chief Executive Rick Richman asked, pointing out that the U.S. market is a whopping $44 billion industry.
He launched Firepie in 2016. It was a one-man show, comprised of himself in a custom-designed food truck with a built-in 900-degree Italian wood-burning oven—“portable pizza kitchen nodes,” he said.
The goal, by combining kitchen and delivery truck in one, is to deliver each order within 15 minutes.
“The average [delivery time] is about 7 minutes,” Richman said. “I am obsessed with quality and convenience.”
The concept already launched in the San Francisco Mission District area.
Richman said BLD Capital’s funding will support the complete rollout in San Francisco and the launch in Los Angeles.
— Sherry Hsieh
Orange County technology and life sciences accelerator OCTANe launched the organization’s first capital campaign. It’s looking to raise $3.3 million.
The campaign aims to build the infrastructure to create 55,000 new jobs by 2030.
“The goal of $3.3 million will provide the resources necessary to create a place for future generations to thrive,” OCTANe Chief Executive Bill Carpou said.
The campaign was announced at the accelerator’s recent 2018 High Tech Innovation Awards at the Balboa Bay Club.
The organization has helped more than 800 companies via its LaunchPad SBDC accelerator.
LaunchPad companies have received more than $2.1 billion in investments and equity exits.
— Mark Mueller
