Irvine-based MobileX was the exclusive wireless carrier partner for this year’s recently completed Winter X Games in Aspen, Colo.
MobileX is the latest venture for local telecom entrepreneur Peter Adderton, who previously founded wireless service provider Boost Mobile.
Adderton says MobileX chose to sponsor the event, which took place from Jan. 26-28, because it aligned with the company’s core values of freedom and individual expression.
“The whole concept of mobile apps is having the complete freedom to create your own plans,” Adderton told the Business Journal.
MobileX, founded in 2021, offers fully customizable prepaid mobile plans.
Its app-based service utilizes artificial intelligence to predict how much data customers need, preventing them from overpaying on unused data.
MobileX’s sponsorship of the X Games was announced around the same time as its mobile plans began rolling out in 3,700 Walmart stores nationwide, as well as online on the retailer’s website.
Plans start at $4.08 per month, with unlimited plans starting at $14.88 per month.
MobileX is expected to launch commercially this month following a soft launch last year that attracted thousands of customers, according to Adderton.
$8M for Cannabis Distributor Petalfast
Irvine-based cannabis sales, marketing and distribution firm Petalfast Inc. said it closed its $8 million funding round last month.
The funding will support new acquisitions as the company plans to grow its national presence.
“Raising money in this market is extremely challenging, but we have a very clear and focused vision on what we’re building,” Chief Executive Jason Vegotsky told the Business Journal.
Vegotsky said that Petalfast, which currently operates out of California, Arizona and Massachusetts, “will be expanding across the country,” not specifying which states just yet.
The privately held company additionally did not disclose the identities of the investors but noted that they have over 75 years of combined experience in highly regulated industries like cannabis.
Petalfast in 2021 partnered with San Francisco cannabis wholesaler Nabis to service its expanding portfolio of brands including VetCBD, Lime and Binske.
One of Petalfast’s recent additions to its portfolio is Sacramento-based Seven Leaves, a premium indoor cannabis company.
Since the November deal, Vegotsky said that Petalfast has grown Seven Leaves in the first 60 days of its partnership.
“We’ve been able to get the brand back on track and growing nicely,” Vegotsky said.
