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Posts filtered by tags: Funding[x]


 

Cruise AV Company Raises $2.75 Billion in Latest Funding Round

General Motors backed autonomous vehicle startup Cruise has reportedly scored $2.75 billion from its last round of funding, with Walmart again taking a particular interest in the company. The multinational retail corporation previously participated in a pilot program where Arizona-based shoppers could call upon a Cruise AV to have their groceries delivered. While just one of several autonomous […] The post Cruise AV Company Raises $2.75 Billion in Latest Funding Round appeared first on The Truth...
Tags: Technology, Investments, Funding, General Motors, Walmart, AV, Cruise, Arizona, Gm, Autos, Autonomous Vehicles, Tech Companies, News Blog, Tech Startups, AV startups


Mexican unicorn Kavak raises a $485M Series D at a $4B valuation.

Kavak, the Mexican startup that’s disrupted the used car market in Mexico and Argentina, today announced its Series D of $485 million, which now values the company at $4 billion. This round more than triples their previous valuation of $1.15 billion, which established them as a unicorn just a couple of months ago in October of 2020. Kavak is now one of the top five highest-valued startups in Latin America. The round was led by D1 Capital Partners, Founders Fund, Ribbit, and BOND, and brings K...
Tags: Startups, Transportation, Ecommerce, Apps, Mexico, Finance, Funding, Articles, Tech, Colombia, Automotive, Used Cars, Brazil, Argentina, Online Marketplace, Logistics


Highlights from Berkeley SkyDeck’s virtual demo day

With 17 startups participating, Berkeley SkyDeck’s Demo Day isn’t the largest cohort we’ve seen by any stretch. The collection of companies is, however, defined by a wide range of focuses, from pioneering diabetes treatments to retrofitting autonomous trucking, curated by the SkyDeck’s small team and a number of advisors. Founded in 2012, the accelerator is focused on developing early-stage companies tied to the University of California system. Applicants must be affiliated with either one of th...
Tags: Startups, Hardware, Funding, Tech, Automotive, Venture Capital, Biotech, Robotics, Berkeley, University Of California, Los Alamos, Uc-berkeley, Skydeck, Kiwi, Ontario, UCSF


Australian lidar maker Baraja collects $31M B round to illuminate the future of autonomy

Lidar companies across the planet are going SPAC, but Baraja isn’t in a hurry to go public. The Australian lidar maker has raised a $31M B round to continue the deployment and development of its “unique and ingenious” imaging system, with participation beyond the usual VC suspects. Baraja’s lidar uses what the company calls SpectrumScan, letting physics do the hard work of directing the light. By passing its laser through a prism, different wavelengths of light go in different directions — and w...
Tags: Fundings & Exits, Startups, Gadgets, Hardware, Funding, Tech, Automotive, Cto, SPAC, RMA, Blackbird Ventures, Recent Funding, Baraja, Federico Collarte, Collarte, Cibby Pulikkaseril


Berlin’s Blacklane raises $26M to expand its high-end chauffeur-driven sustainable car service

As the Ubers of the world continue to scale, a smaller on-demand transportation startup has raised some funding in Germany, underscoring the opportunities that remain for startups in the space targeting specific service niches. Blacklane — the Berlin startup that provides on-demand black-car chauffeur services in Berlin, London, Dubai, Los Angeles, New York, Paris, Singapore and 16 other cities — has closed a round of €22 million ($26 million at current rates). After taking a majority stake in H...
Tags: TC, Transportation, Uber, Europe, London, Germany, Berlin, Funding, Tech, Automotive, Jaguar, GreenTech, Uae, Daimler, Recruit Holdings, Teslas


South Africa’s FlexClub adds $5M to seed round to scale its car subscription marketplace

The traditional process of buying, insuring and financing cars across emerging markets can be challenging, and it defeats the purpose of building an all-around car shopping experience . Today, FlexClub, a South African company, has been provided with $5 million to improve drivers’ experience in these markets . FlexClub was founded in 2019 by Marlon Gallardo, Rudolf Vavruch and Tinashe Ruzane. The company is an online marketplace that connects customers looking for flexible acces...
Tags: Startups, TC, Transportation, Japan, Mexico, Southeast Asia, Funding, Nigeria, Africa, Wordpress, Tech, Automotive, South Africa, Avis, Emerging Markets, Kenya


Porsche and Axel Springer increase investment into their APX accelerator to €55M

Berlin-based early-stage fund APX today announced that its two investors, European publisher Axel Springer and sports car maker Porsche, have increased their investment in the fund to a total of €55 million. With this, APX, which launched in 2018, is now able to deploy up to €500,000 in pre-Series A seed funding per company. That’s up from up to €100,000 when the fund launched. So far, the group has invested in more than 70 companies and plans to increase this number to close to 200 by 2022. Whe...
Tags: Fundings & Exits, Startups, TC, Europe, Berlin, Funding, Cars, Tech, Porsche, Automotive Industry, Axel Springer, Jörg, Apx, Jörg Rheinboldt, Rheinboldt, Axel Springer Today


Porsche and Axel Springer increase investment into early-stage fund APX to €55M

Berlin-based early-stage fund APX today announced that its two investors, European publisher Axel Springer and sports car maker Porsche, have increased their investment in the fund to a total of €55 million. With this, APX, which launched in 2018, is now able to deploy up to €500,000 in pre-Series A seed funding per company. That’s up from up to €100,000 when the fund launched. So far, the group has invested in more than 70 companies and plans to increase this number to close to 200 by 2022. Whe...
Tags: Fundings & Exits, Startups, TC, Europe, Berlin, Funding, Cars, Tech, Porsche, Automotive Industry, Axel Springer, Jörg, Apx, Jörg Rheinboldt, Rheinboldt, Axel Springer Today


China’s electric carmaker WM Motor pulls in $1.47 billion Series D

Chinese electric vehicle startup WM Motor just pocketed an outsize investment to fuel growth in a competitive landscape increasingly coveted by foreign rival Tesla. The five-year-old company raised 10 billion yuan ($1.47 billion) in a Series D round, it announced on Tuesday, which will pay for research and development, branding, marketing and expansion of sales channel. WM Motor, backed by Baidu and Tencent, is one of the highest funded EV startups in China alongside NIO, Xpeng and Li Auto, a...
Tags: Fundings & Exits, Electric Vehicle, Asia, New York, China, Funding, Tech, Tesla, Bloomberg, Automotive, Shanghai, Tencent, Nvidia, Baidu, Gigafactory, Ev


Funding Boost for Joint Mazda-Toyota Plant

An assembly plant currently taking shape in Huntsville, Alabama just saw a cash infusion. The roughly $1.6 billion facility — a joint operation between Toyota and Mazda — was announced in 2018, with both automakers expected to crank out new crossovers aimed primarily at the North American market. Well, add another $830 million to the […] The post Funding Boost for Joint Mazda-Toyota Plant appeared first on The Truth About Cars.
Tags: Funding, Autos, Toyota, Joint Venture, Mazda, Huntsville Alabama, News Blog, Future Models, Assembly Plant


IPO? Who Needs That? Rivian Lands Another $2.5 Billion

As you read earlier this morning, Rivian founder and CEO R.J. Scaringe isn’t all that impressed with the ability of some EV startups to wow Wall Street with lofty talk and exciting, but perhaps empty, promises. He’s more concerned with getting product out the door. It’s perhaps because of Rivian’s conventional approach to car building […] The post IPO? Who Needs That? Rivian Lands Another $2.5 Billion appeared first on The Truth About Cars.
Tags: Investments, Funding, Production, Electric Vehicles, Autos, EVs, News Blog, Rivian, R J Scaringe


At Rivian, Product Tops Promises

Among electric vehicle startups, Rivian is the nonconformist. Compared to its braggadocious contemporaries, many of which are still years away from building anything, the Michigan-based company is well-poised to deliver a drivable product within a year’s time, with only scant attention paid to the possibilities of going public on a raft of promises. We’ve already […] The post At Rivian, Product Tops Promises appeared first on The Truth About Cars.
Tags: Startups, Funding, Electric Vehicles, Autos, Michigan, EVs, Initial Public Offering, News Blog, Product Planning, Rivian


In the wake of COVID-19, UK puts up £20M in grants to develop resilience tech for critical industries

Most of the world — despite the canaries in the coal mine — was unprepared to cope with the coronavirus outbreak that’s now besieging us. Now, work is starting to get underway both to help manage what is going on now and better prepare us in the future. In the latest development, the UK government today announced that it will issue £20 million ($24.5 million) in grants of up to £50,000 each to startups and other businesses that are developing tools to improve resilience for critical industries —...
Tags: Food, TC, Cloud, Ecommerce, Europe, UK, Enterprise, Education, Entertainment, Government, Collaborative Consumption, Funding, Tech, Policy, Automotive, Biotech


In the wake of COVID-19, UK puts up £20M in grants to develop resilient tech for critical industries

Most of the world — despite the canaries in the coal mine — was unprepared to cope with the coronavirus outbreak that’s now besieging us. Now, work is starting to get underway both to help manage what is going on now and better prepare us in the future. In the latest development, the UK government today announced that it will issue £20 million ($24.5 million) in grants of up to £50,000 each to startups and other businesses that are developing tools to improve resilience for critical industries —...
Tags: Food, Startups, TC, Cloud, Ecommerce, Europe, UK, Enterprise, Education, Entertainment, Government, Collaborative Consumption, Funding, Policy, Automotive, Biotech


Waymo Raises $2.25 Billion in External Funding Push

Waymo CEO John Krafcik announced Monday that his company amassed $2.25 billion in its external investment round. Considering Waymo is owned by Google parent Alphabet, one of the richest companies in the world, you’d think it’d be able to float some extra funding into autonomous development. However, even a company worth an estimated $1 trillion knows it’s better […] The post Waymo Raises $2.25 Billion in External Funding Push appeared first on The Truth About Cars.
Tags: Google, Investments, Funding, Autos, Autonomous Vehicles, Self-driving Cars, Alphabet, John Krafcik, Avs, Self Driving, News Blog, Waymo, Considering Waymo


$2.2 Billion in Funding, Rolling Toaster Bound for GM’s Detroit-Hamtramck Plant

With just days left before the last Cadillac CT6 and Chevrolet Impala sedans roll off the assembly line at General Motors’ Detroit-Hamtramck plant, the automaker has put up funding for the facility’s future. For the once endangered plant, it will be a future free of gas-powered cars and trucks. Instead, the sprawling facility will be […] The post $2.2 Billion in Funding, Rolling Toaster Bound for GM’s Detroit-Hamtramck Plant appeared first on The Truth About Cars.
Tags: Funding, General Motors, Production, Electric Vehicles, Gm, Autos, Trucks, EVs, Origin, Cadillac CT6, Chevrolet Impala, News Blog, Product Planning, Future Models, Detroit-Hamtramck, Cruise Origin


After New Funding Round, Rivian Ends the Year Flush

An electric vehicle platform many can’t wait to get their hands on continues to make Rivian the upstart automaker to watch. The fledgling, Michigan-based automaker just closed a $1.3 billion investment round led by T. Rowe Price Associates, Inc. — pushing the company’s 2019 take to $2.8 billion. With two utility vehicles on the way and a […] The post After New Funding Round, Rivian Ends the Year Flush appeared first on The Truth About Cars.
Tags: Amazon, Startups, Funding, Ford, Electric Vehicles, Autos, Michigan, EVs, News Blog, T Rowe Price Associates Inc, Rivian, Rivian Automotive


Ford Loosens Purse Strings, Showers Michigan With Cash

The $6 billion in funding promised in Ford Motor Company’s new four-year labor contract is starting to be seen and heard. Having secured a walletful of incentives from the state of Michigan, Ford is now promising about $1.45 billion and 3,000 new jobs for the Southeast Michigan area. Ford’s cash dump, announced Tuesday, will flow […] The post Ford Loosens Purse Strings, Showers Michigan With Cash appeared first on The Truth About Cars.
Tags: Funding, AV, Ford Mustang, Ford, Electric Vehicles, Autos, Michigan, Autonomous Vehicles, EVs, Ford Motor Company, Ford Ranger, Southeast Michigan, Michigan Assembly Plant, News Blog, Ford F-150, Product Planning


The savage genius of SoftBank funding competitors

Venture capitalists aren’t supposed to make their portfolio companies battle to the death. There’s a long-standing but unofficial rule that investors shouldn’t fund multiple competitors in the same space. Conflicts of interest could arise, information about one startup’s strategy could be improperly shared with the other, and the companies could become suspicious of advice provided by their investors. That leads to problems down the line for VCs, as founders may avoid them if they fear the firm ...
Tags: Travel, Food, Fundings & Exits, Startups, TC, Ecommerce, Uber, Opinion, Collaborative Consumption, Softbank, Funding, Artificial Intelligence, Automotive, Venture Capital, M&a, Logistics


EV startup Rimac scores $90M investment from Hyundai and Kia

Rimac Automobili, the European EV startup that landed an investment from Porsche last year, has again gained the backing of traditional automakers after Hyundai Motor Company and Kia Motors jointly invested €80 million, or around $90 million. Beyond the significant cash infusion, the three parties said the deal includes “a strategic partnership to collaborate on the development of high-performance electric vehicles.” In other words, Hyundai and Kia — both of which fall under the ownership of ...
Tags: Amazon, Fundings & Exits, Uber, Russia, Southeast Asia, India, Funding, Tech, Automotive, Porsche, Electric Vehicles, Transport, Croatia, Fuel Cell, Hyundai, Kia


Uber Completes $8.1B Public Market Debut in Spite of Tumultuous Past

Ride-hailing giant Uber secured $8.1 billion in new capital late Thursday as it priced an initial public offering that set its market capitalization at $82.4 billion, according to calculations by The New York Times and other news outlets.Uber announced late Thursday it will sell 180 million shares of common stock at $45 apiece when it completes the IPO. That price is near the lowest end of the range Uber set at $44 to $50 in the amended prospectus it filed on April 26.Uber (NYSE: UBER) will sta...
Tags: Google, Deals, Transportation, Mobile, Lyft, Uber, Hardware, Marketplace, Workplace, Internet, Entrepreneurship, Ipo, Funding, San Francisco, Trends, Tech


Tesla is raising up to $1.5 billion through convertible note and share sale

Tesla is raising up to $1.55 billion through the sale of notes and shares, according to a filing made by the EV maker today. The document outlines that Tesla will sell up to $1.35 billion in convertible senior notes. The number could increase further: Tesla is giving underwriters the chance to buy a further $202.5 million for over-allotments. In share numbers, that’s an initial 2,723,198 shares that could expand to 3,131,677. The notes are due in 2024 and, already, Tesla founder and CEO El...
Tags: Fundings & Exits, Elon Musk, Finance, Funding, Tech, Tesla, Ceo, Automotive, Electric Vehicles


Smartcar accuses $50M-funded rival Otonomo of API plagiarism

Ruthless copying is common in tech. Just ask Snapchat. However, it’s typically more conceptual than literal. But car API startup Smartcar claims that its competitor Otonomo copy-and-pasted Smartcar’s API documentation, allegedly plagiarizing it extensively to the point of including the original’s typos and randomly generated strings of code. It’s published a series of side-by-side screenshots detailing the supposed theft of its intellectual property. Smartcar CEO Sahas Katta says “We do hav...
Tags: Fundings & Exits, Startups, TC, Transportation, Lawsuit, Developer, Drama, Funding, Israel, CMO, Policy, Automotive, Plagiarism, Mountain View, Andreessen Horowitz, Wayback Machine


Backer of Musical.ly, Grindr and Opera to invest $50M in self-driving startup Pony.ai

A games publisher in China is following the path of its larger peer Tencent to back a wide spectrum of startups for financial gains. Beijing Kunlun Wanwei, or Kunlun, announced in a filing this week that it plans to inject $50 million into autonomous driving startup Pony.ai in exchange for a 3 percent stake. Pony.ai confirmed the investment with TechCrunch in an email response, adding that the money contributes to its pre-B round of financing. The startup last pocketed $102 million that value...
Tags: Asia, China, Funding, Tech, Artificial Intelligence, Beijing, Automotive, United States, Shanghai, Tencent, Autonomous Vehicles, Baidu, Leader, Grindr, Web Browser, NetEase


Talk Lyft’s stock market debut with TechCrunch writers

After much anticipation, Lyft stock hit the public markets last week, with a nearly 10% pop on its first day of trading. However, concerns over the company’s lofty valuation, deep losses and uncertain path to profitability have caused the . TechCrunch’s resident transportation expert Kirsten Korosec and venture capital ax Kate Clark have been on the case, closely following the market’s reaction and the evolving theses around Lyft’s business… Today at 11:00 am PT, Kirsten and Kate will ...
Tags: Fundings & Exits, Startups, TC, Transportation, Lyft, Finance, Ipo, Funding, Events, Automotive, Venture Capital, Rideshare, Kate, Exit, Ride-sharing, Kirsten


Drivezy, India’s vehicle sharing startup, is raising $100M+ at a $400M valuation, eyes US expansion

Drivezy — the startup out of India that wants to turn private car usage on its head through a car-sharing network where people lend their cars and two-wheeled vehicles but also have options to use vehicles from a fleet managed by Drivezy — said it is raising more money as it gears up for the next stage of its expansion, including a launch in the US in coming weeks. The company is in the process of raising $100 million in equity funding, plus another $400 million in asset financing, with the l...
Tags: Google, TC, Ecommerce, Asia, Japan, China, Southeast Asia, Singapore, Collaborative Consumption, India, Funding, Cars, US, Tech, Automotive, Silicon Valley


India’s Ola spins out a dedicated EV business — and it just raised $56M from investors

Ola, Uber’s key rival in India, is doubling down on electric vehicles after it span out a dedicated business, which has pulled in $56 million in early funding. The unit is named Ola Electric Mobility and it is described as being an independent business that’s backed by Ola. TechCrunch understands Ola provided founding capital, and it has now been joined by a series of investors who have pumped Rs. 400 crore ($56 million) into Ola Electric. Notably, those backers include Tiger Global and Matri...
Tags: Fundings & Exits, Electric Vehicle, Uber, Asia, Collaborative Consumption, India, Softbank, Funding, Tech, Companies, Automotive, United States, Transport, Tencent, Bmw, Tiger Global


Flipkart co-founder Sachin Bansal invests $92M in Ola

The money is starting to flow from India’s largest startup exit. Ola has added a major name to its ongoing financing round after it confirmed that Flipkart co-founder Sachin Bansal has invested 650 crore INR (around $92 million) into the Indian ride-hailing business. The deal rumored in January when Paper.vc, an intelligence service that sifts through company filings in India, noticed that Bansal had committed to investing 150 crore. Today, eight-year-old Ola not only confirmed the pairing...
Tags: Fundings & Exits, TC, Uber, Asia, India, Funding, Entrepreneur, Tech, Walmart, Ceo, Economy, Companies, Automotive, United States, Asia Pacific, Retailers


Uber’s India rival Ola nears $6 billion valuation ahead of huge funding round

Ola, India’s local rival to Uber, has seen its valuation jump to nearly $6 billion as it prepares to take in a large round of financing. The ride-hailing firm, which was founded in 2010, has raised around $3.3 billion from investors to date, and it topped that up a little this week. Ola pulled in 520 crore (around $75 million) from existing investor Steadview Capital, according to filings provided to TechCrunch by business signals platform paper.vc. The paperwork indicates that Ola’s bu...
Tags: Fundings & Exits, TC, Uber, Asia, Australia, Ipo, Collaborative Consumption, India, Softbank, Funding, Tech, Automotive, New Zealand, Tencent, Foodpanda, Food Delivery


Auto marketplace CarDekho grabs $110M to double down on insurance and financial services

CarDekho, an online marketplace for car sales in India, has pulled in a new $110 million Series C funding round from a clutch of existing investors to push deeper into financial services and insurance. Sequoia India, Hillhouse and Alphabet’s CapitalG led the round which also saw participation from Axis Bank, one of CarDekho’s financing partners. [Update] The company confirmed that the deals gives it a valuation of $400-$500 million, that’s in line with a report from Economic Times one mon...
Tags: Fundings & Exits, Asia, Indonesia, Youtube, Finance, Southeast Asia, India, Funding, Insurance, Tech, Car, Automotive, Philippines, Malaysia, Online Marketplace, Alphabet



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