Rimac Group said Tuesday it has raised 500 million euro ($536 million), funds that will help the Croatian startup expand beyond its electric hypercar roots and grow into a global EV components supplier — and eventually a publicly traded company. Softbank Vision Fund 2 and Goldman Sachs led the Series D investment round in a… Continue reading Rimac raises more than $500M from Porsche, Softbank and Goldman Sachs
Author: Tech Crunch Online News
Chick-fil-A taps Refraction AI for autonomous delivery pilot
When Refraction AI was founded in 2019, its goal was to use robotics to bring down the cost of last-mile delivery. Over the past couple of years, the startup has worked directly with restaurants in its hometown of Ann Arbor, Michigan, to offer its bike-lane bound robots as a logistics layer for customers, rather than… Continue reading Chick-fil-A taps Refraction AI for autonomous delivery pilot
DeLorean reveals Alpha 5, a performance EV with Back to the Future vibes
DeLorean released fresh details and images of its Alpha 5 EV, a gull-winged electric vehicle that the company’s owners hope will resurrect the long defunct brand and possibly set the direction for more electric models. The company’s — and the EV’s — big public moment won’t come until later this summer at the Monterey Car… Continue reading DeLorean reveals Alpha 5, a performance EV with Back to the Future vibes
SWVL plans to lay off 32% of its team two months after going public
Egypt-born and Dubai-headquartered mobility startup SWVL is planning to lay off 32% of its workforce, it said in a statement today. The company’s LinkedIn profile shows it has over 1,330 employees. Letting go of over 30% of its workforce means that around 400 people will lose their job at the mobility company. Tech companies, private… Continue reading SWVL plans to lay off 32% of its team two months after going public
Strong Compute raises $7.8M seed round to speed up ML training pipelines
Strong Compute, a Sydney, Australia-based startup that helps developers remove the bottlenecks in their machine learning training pipelines, today announced that it has raised a $7.8 million seed round. The round includes a total of 30 funds and angels, including the likes of Sequoia Capital India, Blackbird, Folklore and Skip Capital, as well as Y… Continue reading Strong Compute raises $7.8M seed round to speed up ML training pipelines
The Station: EV SPACs face new regulatory speed bump, more on Rivian’s reorg and VW weighs direct sales for Scout brand
Welcome back to The Station, your weekly guide to everything going on in the world of transportation. Many readers of this weekly newsletter are likely enjoying a three-day weekend thanks to the Memorial Day holiday. So, this week I will keep it a wee bit shorter. Before we get started, check out the latest transportation… Continue reading The Station: EV SPACs face new regulatory speed bump, more on Rivian’s reorg and VW weighs direct sales for Scout brand
EV SPACs are facing a new regulatory speed bump
It’s been a bumpy road for the electric vehicle startups that rushed to go public over the past two years by merging with a publicly traded shell company. Now, the SEC’s broadest attempt to crackdown on these so-called reverse mergers could put a few speed bumps on the road to becoming — and maintaining —… Continue reading EV SPACs are facing a new regulatory speed bump
Hydrogen startup ZeroAvia has a zero-emission vision, but its next plane is a hybrid
ZeroAvia has raised $115 million from United Airlines, Alaska Airlines, British Airways and Amazon on a promise to fly a zero-emission hydrogen fuel cell regional passenger plane as soon as next year. Now the startup has set itself a slightly less high-flying goal: building a hybrid aircraft. This new experimental plane, which is under construction… Continue reading Hydrogen startup ZeroAvia has a zero-emission vision, but its next plane is a hybrid
Lidar exposes the remnants of an overgrown ancient civilization in the Amazon
It’s Friday and the world is falling apart, so let’s just take a short mental health break with some interesting news out of the field of archaeology, where tech is enabling some fascinating new discoveries. A new lidar-powered analysis of land in the Amazon basin has provided evidence of a previously unknown urban center of… Continue reading Lidar exposes the remnants of an overgrown ancient civilization in the Amazon
Diesel is a horrible thing for an economy to depend on
Want to bring inflation to heel? There’s no single, simple fix, of course, or we would have done it already. But a good place to start would be weaning the economy off gasoline and diesel. Prices for fossil fuels are through the roof. Gas prices are up over 75% since last year, and diesel is… Continue reading Diesel is a horrible thing for an economy to depend on