Planet42, a South Africa-based car subscription company that buys used cars from dealerships and rents to customers via a subscription model, has raised $30 million in equity and debt. The investment — which co-founder and CEO Eerik Oja called a bridge round — is a prequel to a larger Series A round next year. It… Continue reading South Africa’s Planet42 gets $30M for its car subscription service, Mexico expansion
Author: Tech Crunch Online News
Voi scooters raises $115M Series D round as it preps to enter new cities — and for an IPO
The European e-scooter market is currently the main battleground for companies playing in the micromobility space, taking advantage as they are of Europe’s relatively compact cities and the desire of populations to move to more sustainable transportation. In 2021, players like Tier, Voi and Dott continued to raise VC backing. But the war for funding… Continue reading Voi scooters raises $115M Series D round as it preps to enter new cities — and for an IPO
AI chip maker Kneron raises $25M for autonomous driving push
AI chips, which are semiconductors designed to accelerate machine learning, have many applications. One of the promising use cases, according to Albert Liu, is using AI chips in autonomous driving vehicles. That’s why Liu’s AI chipmaking startup Kneron has been quietly racking up investments to march into smart transportation. It recently closed a new round… Continue reading AI chip maker Kneron raises $25M for autonomous driving push
The Station: Cruise loses its head, Nio brings AR in the car, and Rivian expands to Georgia
The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hello readers: Welcome to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. A… Continue reading The Station: Cruise loses its head, Nio brings AR in the car, and Rivian expands to Georgia
India’s Cars24, a used-vehicle sales platform, raises $400M, now at a $3.3B valuation, to double down on growth
With supply chains in the automotive industry continuing to be disrupted due to Covid-19, demand has surged in the used-car market. Today, one of the startups that’s seeing a lot of growth as a result of that is announcing a big round of funding to further tap the opportunity. Cars24, a startup out of India… Continue reading India’s Cars24, a used-vehicle sales platform, raises $400M, now at a $3.3B valuation, to double down on growth
Nigerian mobility-tech startup MAX bags $31 million in Series B round, set to expand across Africa, build EV infrastructure
Nigerian mobility tech startup Metro Africa Xpress Inc. (MAX) is planning to enter more markets across Africa as it races towards formalizing the continent’s transportation sector after securing $31 million in Series B funding. The startup told TechCrunch that it will use the funding to enter Ghana and Egypt by the end of the first… Continue reading Nigerian mobility-tech startup MAX bags $31 million in Series B round, set to expand across Africa, build EV infrastructure
TechCrunch+ roundup: Travel bans and H-1Bs, Reddit’s IPO plans, early-stage space chat
The fees investment banks charge to underwrite IPOs can gobble several points from a public company’s gross proceeds, but new competition is giving some firms a chance to hold on to more of that sweet debut money. This week, Nubank paid just 1.6% of the $2.6 billion it raised to its underwriters. As Bloomberg reported,… Continue reading TechCrunch+ roundup: Travel bans and H-1Bs, Reddit’s IPO plans, early-stage space chat
FedEx receives its first fully-electric GM Brightdrop delivery vans
FedEx has received its first five GM-built electric delivery vans out of an order of 500, the company announced. The move represents an important landmark for FedEx in its stated goal to be have an all-electric delivery fleet and be carbon neutral around the world by 2040. “The delivery of the first BrightDrop EV600s is… Continue reading FedEx receives its first fully-electric GM Brightdrop delivery vans
Longtime GM exec Dan Ammann is out as Cruise CEO
Cruise CEO Dan Ammann is leaving the company, its parent company General Motors said in late afternoon statement. Kyle Vogt, who co-founded the autonomous vehicle company, and was the company’s first CEO will take over the role on an interim basis. Vogt has been serving as Cruise’s president and CTO. Wesley Bush, the former Chairman… Continue reading Longtime GM exec Dan Ammann is out as Cruise CEO
Rivian to invest IPO wealth into new Georgia factory, battery tech
Rivian will use some of the $13.7 billion it raised when it publicly listed its shares to build a second factory in Georgia that has double the capacity of its plant in Illinois. The company, which made the announced Thursday as part of its first earnings report, said the funds will be used to expand… Continue reading Rivian to invest IPO wealth into new Georgia factory, battery tech