STARTUPS & INNOVATIONS

PARTNERSHIPS

Nimble, a maker of environmentally friendly mobile phone accessories, is boosting its retail presence through a partnership with Verizon Wireless.  

The Costa-Mesa based upstart now offers its sustainable products in more than 1,600 Verizon store locations and on their website, as part of an initiative to offer customers products with a reduced environmental impact.  

Nimble’s wireless phone chargers and fast-charge cables are made with recycled aluminum, recycled plastic, organic hemp and plant-based bioplastic. 

The company’s portable chargers go for $49.99 to $79.99 and charging cables are offered at $24.99 and up. 

Nimble co-founders Ross Howe, who is also chief executive, Kevin Malinowski and Jon Bradley have backgrounds in consumer electronics, working for brands including Tustin-based cellphone case and accessory maker Mophie and Zagg Inc., which acquired Mophie for over $100 million in 2016. 

The five-person company launched in 2018 and has raised $2.5 million to date, with investment from Okapi Capital in Laguna Beach and Menlo Park-based PivotNorth Capital.

Aliso Viejo-based Enmotus Inc. is developing a new computer storage and performance product in partnership with Taipei’s Phision Electronics Corp., which is creating the hardware for the product.

The FuzeDrive—shorthand for fusion of drives—uses custom-built, machine intelligent software; it aims to incorporate the best features of various SSD components to provide long-lasting hardware and more efficient device use. 

The software monitors how you use your computer and adapts settings to “make your experience faster and smoother, and allow you to go bigger and faster with cheaper technology,” said Chief Executive Andy Mills. 

The company expects to launch the FuzeDrive this summer, through partners like Dell and direct-to-consumer purchasing options. 

In the past, Enmotus has earned most of its business through software royalty licenses. Mills said its software for semiconductor firm Advanced Micro Devices Inc. has been the company’s most successful product to date, putting its software in the hands of more than 14 million people. 

Enmotus became cash flow positive in 2018, after raising more than $8 million from Tech Coast Angels, the Tandon family of the former Tandon Corp., now part of Western Digital Corp., and Exponential Ventures in Corona del Mar. 

CEO Mills and CTO Marshall Lee launched Enmotus in 2010.

LAUNCH

CoinLinked in Irvine launched a blockchain-based social marketplace for crypto currency activities and transactions on May 7. 

Users can shop various goods and services on the platform and purchase items with crypto currencies such as Bitcoin and Ethereum. 

CoinLinked receives the crypto payments and pays merchants in their local fiat or government-based currency. This eliminates cumbersome payment methods that burden other platforms with crypto payment options, according to Chief Executive Jenny Q. Ta. 

She added, “We’re streamlining the entire e-commerce process for people who want to move away from the dangers of spending or holding physical currency and want to purchase essential or other goods with crypto payments.”

The social platform allows users to monetize their activities and earn digital assets via cash back, discounts and other rewards. Users can also earn revenue by creating and sharing activities and digital content. 

Prior to CoinLinked, Ta founded VCNetwork, a platform that connects venture capitalists with entrepreneurs and aims to help fund startups.

FINANCING

Westminster-based Clever Care Health Plan Inc., a provider of Medicare Advantage insurance plans, said it raised $20 million in Series A funding on April 24.

The round was led by Norwest Venture Partners with participation from Global Founders Capital.

The capital will be used to open offices in Little Saigon and Arcadia, the company said.

Clever Care aims to offer culturally sensitive Medicare Advantage health plans and provide a balance between Western and Eastern medicine.

The company still needs to gain approval from the Centers for Medicare and Medicaid Services to cover holistic healing treatments such as acupuncture and chiropractic care.

Clever Care’s Chief Operating Officer Myong Lee said he witnessed how difficult it was for his parents to seek care in the U.S. with a language barrier and cultural differences, which inspired the company’s focus on alternative treatments.

Lee leads the team with Chief Executive Dave Firdaus and Chief Financial Officer Hiep Pham; the three co-founders have spent their careers in the Medicare segment, having served Blue Cross Blue Shield and Scan Health Plan, among others.

Several healthcare startups have raised millions for Medicare Advantage opportunities; Orange-based Alignment Healthcare raised $135 million in a Series C round in March.

ACQUISITIONS

Medtronic PLC acquired Irvine-based Laser Associated Sciences Inc. (LAS) on April 13, on undisclosed terms. 

LAS received FDA clearance for its blood flow monitoring device, the FlowMet-R, in January. The portable device clips onto a patient’s toe and uses a laser diode and a camera to measure blood flow in real time. 

The FlowMet-R allows specialists to detect and treat peripheral arterial disease (PAD), a disease that narrows peripheral arteries in the legs, stomach, arms and head. It most often affects the lower extremities and can lead to amputation when left untreated. 

PAD affects over 200 million people worldwide and about 10 million people in the U.S., according to the American Heart Association. 

LAS was formed at UCI’s Beckman Laser Institute and Medical Clinic in 2015. 

The company then took investment from Newport Beach’s Auctus Global Capital and moved into an office space at The Cove, the home of UCI Beall Applied Innovation. 

LAS will continue to develop noninvasive medical devices that address vascular diseases under Medtronic, according to Auctus officials.

Irvine-based Protempo Group, a retail distribution, remarketing and logistics management provider, has acquired sports apparel and accessories maker Outdoor Tech in Laguna Hills.

Protempo said it was drawn to Outdoor Tech because of the appeal of the lifestyle brand’s offerings for snowboarders, bikers and golfers.

“We’ve been wanting to get into the product space and offer alternatives to the brands we [already] support,” said Protempo’s Chief Executive Gerry Fay. “With these products, we’re looking to penetrate the off-price retailers.”

Protempo manages e-commerce channels and distribution for more than 30 brands including Apple, Skullcandy and Irvine-based Incipio.

Protempo also provides marketplace intelligence to close down unauthorized sellers of their brands’ products.

Regarding market intelligence, “we don’t see anyone providing this value for brands. It’s security as a service; it’s our key differentiator,” Fay said.

Protempo has experienced double-digit growth over the last few years and posts annual revenues of more than $100 million, according to Fay.

The company launched in Auckland, New Zealand in 2004. Since then, it has opened offices in five countries and relocated its headquarters to Irvine, where its founder and President Adam Brown now resides.

Protempo now has about 50 employees in the U.S., including employees from Outdoor Tech. Outdoor Tech’s Chief Executive Charlie Gugliuzza will join the management team.