A Roundup of LA Startup Funding News

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Amidi initially launched Plug and Play as a space for startups to build businesses, providing them with offices, internal servers and infrastructure that could help them grow. After talking to his startup clients, Amidi realized what they really needed was money. Amidi saw an opportunity to act as an intermediary to help its real estate clients grow.

“When we find a great entrepreneur, team, and technology, we typically show them to 10 VCs and 10 business partners, and capture their thoughts” on where the startup could improve — and if they might want to invest. , said Amidi.

Plug and Play now has approximately 540 partner companies, including Walmart, McDonald’s and Pepsi.

“These are some of the most successful companies in the world that would love to use the [Plug and Play] platform to help them understand the future of commerce,” he adds.

Today, Plug and Play’s acceleration programs – there are 17 of them – host more than a thousand startups in the United States alone, including the one who recently launched in Downtown LA Internationally, that number is about double.

“We really anticipate and hope that with our location in Los Angeles, we would have great content producers, great advertisers, joining the platform,” he said.

Plug and Play invests in around 250 startups a year, many of them in the automotive industry.

“The whole world is going through such a rapid digital transformation, all of these big companies might be Mercedes or Ford or Chrysler, they’re all looking for startups that can help them electrify faster, you know, beat Tesla in their autonomous race,” Amidi said.

Amidi said people always ask him if he plans to retire.

“I tell them that if I find something else to do, I’ll have more fun. I will. But, in general, what motivates me is the number of entrepreneurs or startups who use the platform to build their dreams,” Amidi said.

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dot.LA Engagement Intern Joshua Letona contributed to this post.

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