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The Exit: Getaround’s $300M roadtrip

In August of last year, Getaround scored $300 million from Softbank. Eight months later they handed that same amount to Drivy, a Parisian peer-to-peer car rental service that was Getaround’s ticket to tapping into European markets. Both companies shared similar visions for the future of car ownership, they were about the same size, both were flirting with expanding beyond their home market, but only one had the power of the Vision Fund behind it. The Exit is a new series at TechCrunch. It’s a...
Tags: Fundings & Exits, Startups, TC, Transportation, Uber, Europe, Youtube, Softbank, Tech, Automotive, Paris, Venture Capital, Sharing Economy, Airbnb, Getaround, Talent


Uber begins trialing e-bikes and bicycles rides in India

Uber has partnered with bicycle sharing platform Yulu in India as it looks to grab a piece of the growing e-bikes market that is increasingly posing a challenge to taxi services in the nation. The San Francisco-headquartered firm, which is expected to go public later this week, said it will provide its users in Bengaluru with Yulu’s e-bikes and bicycles as part of a pilot. The announcement, financial details of which were not disclosed, comes days after users in Bengaluru began to spot Yulu’s...
Tags: Travel, Startups, Transportation, Uber, Asia, Southeast Asia, India, Softbank, San Francisco, Automotive, Uber India, Flipkart, Hyderabad, Bengaluru, Amit Gupta, Inmobi


GM Cruise raises $1.15B at a $19B valuation from Softbank and Honda

GM Cruise has raised another $1.15 billion in new equity from a group of investors that includes T. Rowe Price Associates, Honda, Softbank Vision Fund and its parent company GM as the self-driving vehicle company pushes to launch a commercial autonomous ride-hailing service this year. This investment increases Cruise’s post-money valuation to $19 billion, inclusive of SoftBank’s previously announced investment commitment. Cruise has secured capital commitments totaling $7.25 billion in the pa...
Tags: Startups, Transportation, Softbank, San Francisco, Cruise, Automotive, Gm, Dropbox, Honda, Seattle, General-motors, Brannan Street, Dan Ammann, Kyle Vogt, Bryant Street, Ammann


Sony launches a taxi-hailing app to rival Uber in Tokyo

Sony last year announced it would enter Japan’s taxi-hailing space and, good to its word, the electronics giant has kicked off its S.Ride service in Tokyo. The service — which was first noted by CNET — is a joint venture between Sony, its payment services subsidiary and five licensed taxi companies. Since ride-hailing with civilian cars is illegal in Japan, the service will focus on connecting licensed taxis with passengers. The electronics giant previously played up its use of AI to match suppl...
Tags: Startups, Lyft, Uber, Asia, Japan, China, Softbank, Spokesperson, Artificial Intelligence, Automotive, Transport, Sony, Tokyo, Commuting, Toyota, Rakuten


Uber’s self-driving car unit raises $1B from Toyota, Denso and Vision Fund ahead of spin-out

Uber’s has confirmed it will spin out its self-driving car business after the unit closed $1 billion in funding from Toyota, auto-parts maker Denso and SoftBank’s Vision Fund. The development has been speculated for some time — as far back as October — and it serves to both remove a deeply-unprofitable unit from the main Uber business: helping Uber scale back some of its losses, while giving Uber’s Advanced Technologies Group (known as Uber ATG) more freedom to focus on the tough challenge of br...
Tags: Uber, Japan, Ipo, Softbank, Tech, Automotive, Toyota, ATG, DENSO, Dara Khosrowshahi, SoftBank Vision Fund, Vision Fund, Uber s Advanced Technologies Group, Uber ATG, Shigeki Tomoyama, Toyota Group


Uber has already made billions from its exits in China, Russia and Southeast Asia

Uber’s exits from China, Russia and Southeast Asia were billed as failures from the company, but the ride-sharing giant has already made billions on paper from those moves, according to its IPO filing. Uber released its much-anticipated S1 on Thursday U.S. time and reporters and analysts are frantically digging into a treasure trove of previously-unreleased details. A number of sections on Uber’s global divestitures begin to paint a clear picture of the strategy that Uber employed when leaving ...
Tags: Google, TC, Uber, Asia, Indonesia, Mexico, China, Russia, Southeast Asia, Softbank, Tech, Automotive, Middle East, Tencent, Brazil, Yandex


Nuro CEO Dave Ferguson at TC Sessions: Mobility on July 10 in San Jose

Autonomous delivery startup Nuro, fresh with nearly $1 billion in capital from SoftBank, is bursting with ideas — as some recent patent filings (and our recent deep dive into the company) suggest. And we can’t wait to learn more about what Nuro has planned. It’s only fitting that Nuro co-founder and CEO Dave Ferguson is our first announced guest for TechCrunch’s inaugural TC Sessions: Mobility, a one-day event on July 10, 2019 in San Jose, Calif., that’s centered around the future of mob...
Tags: Google, Transportation, Mississippi, California, China, Softbank, Events, Tech, Intel, Engineer, Automotive, Electric Vehicles, Darpa, Machine Learning, Ferguson, San Jose


Transportation weekly: Nuro dreams of autonomous lattes, what is a metamaterial, Volvo takes the wheel

Welcome back to Transportation Weekly; I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch. We love the reader feedback. Keep it coming. Never heard of TechCrunch’s Transportation Weekly? Read the first edition here.  As I’ve written before, consider this a soft launch. Follow me on Twitter @kirstenkorosec to ensure you see it each week. An email subscription is coming! This week, we’re shoving as much transportation news, tidbits and insights in here as possible in ho...
Tags: Transportation, Lyft, Uber, Elon Musk, Florida, Wtf, New York, Indonesia, California, Boston, Singapore, Softbank, US, San Francisco, Tech, Earnest


How Nuro plans to spend Softbank’s $940 million

Autonomous delivery startup Nuro is bursting with ideas since SoftBank invested nearly $1 billion in February, new filings reveal. A recent patent application details how its R1 self-driving vehicle could carry smaller robots to cross lawns or climb stairs to drop off packages. The company has even taken the step of trademarking the name “Fido” for delivery services. “We think there’s something neat about that name,” Nuro founder Dave Ferguson told TechCrunch. “It’s friendly, neigh...
Tags: Google, Amazon, Transportation, Lyft, Uber, Texas, California, China, Softbank, Tech, E-commerce, Ces, Cruise, Automotive, Automation, Arizona


Transportation Weekly: Uber’s spending habits, Tesla Model Y, scooters and AVs in Austin

Welcome back to Transportation Weekly; I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch. We love the reader feedback. Keep it coming. Never heard of TechCrunch’s Transportation Weekly? Catch up by reading the first edition here or check out , which offered the gamut of mobility news from Lyft and Bird to Waymo’s laser bears and cybersecurity. As I’ve written before, consider this a soft launch. Follow me on Twitter @kirstenkorosec to ensure you see it each week. An...
Tags: Transportation, Lyft, Uber, Washington, Softbank, Israel, Los Angeles, San Francisco, Tech, Tesla, Bloomberg, E-commerce, AV, Artificial Intelligence, Austin, Automotive


Report: Google’s Waymo seeks outside investment and a sky-high valuation

Alphabet’s self-driving vehicle subsidiary Waymo may raise outside capital for the first time at a valuation “at least several times” that of Cruise, the General Motors-owned autonomous vehicle business worth nearly $15 billion, according to a report published by The Information on Monday. We’ve reached out to our sources to confirm. Waymo didn’t immediately respond to a request for comment. Waymo, which is currently celebrating its 10-year anniversary, is a cash-intensive unit. Raising capit...
Tags: Google, Transportation, Softbank, Tech, General-motors, Cruise, Automotive, Gm, Venture Capital, Autonomous Vehicles, Shell, Silver Lake, John Krafcik, Ruth Porat, Phoenix, Ford Google


GM Cruise snags Dropbox HR head to hire at least 1,000 engineers by end of year

GM Cruise plans to hire hundreds of employees over the next nine months, doubling its engineering staff, TechCrunch has learned. It’s an aggressive move by the autonomous vehicle technology company to double its size as it pushes to deploy a robotaxi service by the end of the year. Arden Hoffman, who helped scale Dropbox, will leave the file-sharing and storage company to head up human resources at Cruise. The GM subsidiary, which has more than 1,000 employees, is expanding its office space i...
Tags: Google, Transportation, Cloud Storage, Softbank, San Francisco, Tech, General Motors, Artificial Intelligence, Software, Cruise, Automotive, Computing, Gm, Dropbox, Autonomous Vehicles, Honda


GM Cruise snags Dropbox HR head to hire 1,000 engineers by the end of the year

GM Cruise plans to hire 1,000 more engineers over the next nine months, TechCrunch has learned. It’s an aggressive move by the autonomous vehicle technology company to double its size as it pushes to deploy a robotaxi service by the end of the year. Arden Hoffman, who helped scale Dropbox, will leave the file-sharing and storage company to head up human resources at Cruise. The GM subsidiary is expanding its office space in San Francisco to accommodate the growth. GM Cruise will keep its head...
Tags: Google, Transportation, Cloud Storage, Softbank, San Francisco, Tech, General Motors, Artificial Intelligence, Software, Cruise, Automotive, Computing, Gm, Dropbox, Autonomous Vehicles, Honda


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


Transportation Weekly: Tesla astroturfs, Softbank flexes, BMW and Daimler hookup, What is a Jelbi?

Welcome back to Transportation Weekly; I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch. This is the third edition of our tome, I mean newsletter, and this week let’s settle in for a mind meld on why logistics is the new Hansel, a curious Tesla subsidiary, and discover a new mobility species called the Jelbi. Never heard of TechCrunch’s Transportation Weekly? Catch up here and here. As I’ve written before, consider this a soft launch. Follow me on Twitter @kirstenkoros...
Tags: Apple, Google, Amazon, Transportation, Asia, Elon Musk, Berlin, Softbank, Los Angeles, San Francisco, Tech, Tesla, Canada, Automotive, Geneva, Bmw


Daily Crunch: SoftBank bets big on autonomous delivery

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here: 1. SoftBank’s next bet: $940M into autonomous delivery startup Nuro Nuro has raised $940 million in financing from the SoftBank Vision Fund, a whopping amount that will be used to expand its delivery service, add new partners, hire employees and scale up its fleet of self-driving bots. The autonomous ...
Tags: Apple, Amazon, Spotify, Saudi Arabia, Softbank, Tech, Getty Images, Netflix, Automotive, Va, Health Records, Jeff Bezos, Sunday Times, Equity, Instacart, Mobile World Congress


Softbank’s next bet: $940M into autonomous delivery startup Nuro

Nuro, the autonomous delivery startup, has raised $940 million in financing from the Softbank Vision Fund, a whopping amount that will be used to expand its delivery service, add new partners, hire employees and scale up its fleet of self-driving bots. Nuro has raised more than $1 billion from partners including SoftBank, Greylock Partners and Gaorong Capital. “We’ve spent the last two and a half years building an amazing team, launching our first unmanned service, working with incredible ...
Tags: Transportation, Softbank, Tech, Automotive, Arizona, Toyota, Self-driving Cars, Robotics, Greylock Partners, Kroger, Phoenix, Starship Technologies, Ike, Dave Ferguson, SoftBank Vision Fund, SoftBank Investment Advisers


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


Grab raises fundraising target to $5B as Southeast Asia’s ride-hailing war heats up

Southeast Asian ride-hailing firm Grab is aiming to start the new year with a bang and an awful load of bucks. The company, which acquired Uber’s local business earlier this year, is planning to raise as much as $5 billion from its ongoing Series H round, up from an original target of $3 billion, a source with knowledge of the plan told TechCrunch. Grab declined to comment for this story. That Series H round has been open since June. Already, it has seen participation from the likes of Toyota...
Tags: Google, Fundings & Exits, Startups, Uber, Asia, Business, Microsoft, Indonesia, China, Southeast Asia, Singapore, Softbank, Funding, Thailand, Automotive, Philippines


Uber partner Fair gets $385M led by Softbank to grow its flexible car ownership model globally

California startup Fair.com is aiming to turn the car market on its head by providing price-friendly, easy options for people to lease vehicles instead of buying them, and today it’s taking the latest, big step in that ambition. Fair has raised a huge Series B funding round of $385 million led by Softbank, with participation from Exponential Ventures, Munich Re Venture’s ERGO Fund, G Squared, and CreditEase,  to take its business global. Requiring just a drivers license and a credit card (or...
Tags: TC, Transportation, Uber, California, China, Germany, Collaborative Consumption, India, Softbank, Funding, Cars, US, Tech, Automotive, Venture Capital, Getaround


Grab is messing up the world’s largest mapping community’s data in Southeast Asia

Grab, Southeast Asia’s top ride-hailing company, has hit a roadblock in its efforts to improve its mapping and routing service after running into trouble with OpenStreetMap, the world’s largest collaborative mapping community, through a series of blundering edits in Thailand. Grab, which gobbled up Uber’s local business in exchange for an equity swap earlier this year, has busily added details and upgraded the maps it uses across its eight markets in Southeast Asia. Accurate maps are, of c...
Tags: Google, TC, Uber, Asia, Indonesia, Southeast Asia, Singapore, Collaborative Consumption, India, Softbank, Tech, Sea, Thailand, Automotive, Tencent, Toyota


With today’s IPO sinking, a year of highs and lows for SoftBank

If there was a word that dominated startup and tech news coverage this year, it was SoftBank. The Japanese telecom conglomerate’s Vision Fund pushed out a prodigious amount of capital this year — quite literally billions of dollars — into companies as diverse as a molecular manufacturer (Zymergen) and a robotic pizza delivery business (Zume Pizza). It was a year of highs as its Flipkart transaction produced billions in returns, as well as a year of incredible lows, what with the crisis over Saud...
Tags: Apple, Amazon, TC, Uber, Asia, Japan, London, Hardware, Saudi Arabia, Finance, Government, Kingdom, Softbank, Tech, Walmart, Bloomberg


Getaround to expand Uber partnership to four more cities

Getaround, the peer-to-peer car-sharing service that first launched at TechCrunch Disrupt NY in 2011, is expanding a partnership with Uber that gives users access to rideshare-ready vehicles. The program, which launched as a pilot in May 2017 in San Francisco, is now available to Getaround customers  in Los Angeles and San Diego. Two more cities, Philadelphia and Washington D.C. will soon follow, Getaround co-founder and CEO Sam Zaid told TechCrunch. Getaround’s carsharing platform is design...
Tags: Startups, Transportation, Uber, Washington, Softbank, Los Angeles, San Francisco, Automotive, Philadelphia, Getaround, Toyota Motor Corporation, Zaid, Sam Zaid, San Diego Two, TechCrunch Getaround


Softbank invests in parking startup ParkJockey pushing valuation to $1 billion

Softbank continues to invest in the future of transportation — this time in ParkJockey, a startup that has built a technology platform aimed monetizing parking lots. And ParkJockey, which was founded in 2013, is already using that capital to scale up. Along with the Softbank investment news, ParkJockey also announced that it was acquiring two of the largest parking operators in North America. The startup, with help from Abu Dhabi-based Mubadala Capital and debt financing from Owl Rock, said it h...
Tags: Travel, Transportation, Softbank, Automotive, Parking, North America, Abu Dhabi, SoftBank Group, Mubadala Capital, Miami Herald Miami, ParkJockey, Citizens Parking Inc, Owl Rock, Imperial Parking Corporation a North


Cruise Automation taps GM president Dan Ammann as its new CEO

Cruise Automation, the self-driving car subsidiary of GM, is getting a new CEO. The autonomous vehicle company, which was acquired by GM in 2016 and became subsidiary GM Cruise, has tapped Dan Ammann as CEO. Ammann will step down as GM’s president, a role he’s held since January 2014. Kyle Vogt, a Cruise co-founder who was CEO and also unofficially handled the chief technology officer position, is staying with the company. Vogt will now become president and CTO. The changes take effect Jan...
Tags: TC, Softbank, San Francisco, Tech, General-motors, Cruise, Automotive, Mary Barra, Gm, Automotive Industry, Honda, Seattle, Cto, Dan, Kyle, Dan Ammann


China’s Didi adds driver training program to counter sharp decline in rides

Didi Chuxing, China’s largest ride-hailing company by number of users, has been struggling to recover from a major setback following the deaths of two passengers earlier this year. On Wednesday, its founder and CEO Cheng Wei released a letter detailing the company’s moves to step up safety oversight and meet new government rules, including a training program for drivers. The Softbank-backed transportation giant, which acquired Uber’s China-based service in 2016 and was last valued at $56 bill...
Tags: Uber, Asia, China, Softbank, Tech, Ceo, Automotive, Alibaba, Transport, Carsharing, Ridesharing, Meituan-dianping, Cheng, Didi, Ministry of Transportation, SoftBank Group


GM’s self-driving unit Cruise is expanding to Seattle

Cruise, the self-driving company acquired by GM in 2016, is expanding to Seattle as it seeks out more engineering talent to develop its technology. The company doesn’t have any plans right now to test its autonomous vehicles in the city. Instead, GM Cruise plans to set up offices in Seattle to attract and hire between 100 to 200 engineers by the end of 2019. “To continue growing a team that is diverse and rich in talent, we feel that it’s important to explore talent pools outside of the Bay Area...
Tags: Transportation, Softbank, San Francisco, Tech, Cruise, Automotive, Gm, Honda, Seattle, Self-driving Car, Bay Area, Kyle Vogt, California Department of Motor Vehicles, GM Cruise


Grab pulls in $250M from Hyundai as ongoing round reaches $2.7B

Grab, the Singapore startup that bought Uber’s Southeast Asia business earlier this year, continues to announce strategic investors for its ongoing Series H funding round. The latest edition revealed today is Korean automotive firm Hyundai, which is investing $250 million. Hyundai first invested in Grab in January, and it joins recently announced investors Microsoft (undisclosed) and Booking Holdings ($200 million) in the round, which is aimed at reaching at least $3 billion before the end of...
Tags: Fundings & Exits, TC, Uber, Asia, Microsoft, Indonesia, China, Southeast Asia, Singapore, Collaborative Consumption, Softbank, Funding, Tech, Thailand, Automotive, United States


GM looks to cut costs by offering buyouts to 18,000 employees

General Motors has offered voluntary buyouts to 18,000 salaried employees in North America who have at least 12 years of experience, as the automaker looks to cut costs all while investing in its electric and autonomous future. The company has described this as a proactive measure aimed at preparing for coming headwinds such as  slow sales in North America and China, commodity prices and tariffs. But it’s just as much about preparing for the future. The company has been undergoing a transformati...
Tags: TC, Electric Vehicle, Europe, China, Softbank, Tech, General-motors, Automotive, Mary Barra, Gm, Michigan, North America, Chevrolet, Opel, LG Electronics, GM GM


SoftBank and Toyota team up to develop services powered by self-driving vehicles

SoftBank is getting into self-driving car services after the Japanese tech giant announced a joint-venture with Toyota in its native Japan. SoftBank is invested in Uber and a range of other ride-hailing startups like Didi in China and Grab in Southeast Asia, but this initiative with Toyota is not related to those deals. Instead, it is designed to combine SoftBank’s focus on internet-of-things technology and Toyota’s connected vehicle services platform to enable new types of services that r...
Tags: Amazon, Food, TC, Uber, Asia, Japan, China, Southeast Asia, Softbank, Tech, Artificial Intelligence, Automotive, Transport, Pizza Hut, Toyota, Baidu



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