InstaCarro, a digital marketplace that connects used car sellers to dealers in Brazil, has raised $23 million in a Series B round of funding. Notably, U.S.-based firms co-led the investment, including J Ventures, FJ Labs and Rise Capital. Spain’s All Iron Ventures and Big Sur also participated in the financing, among others. With the latest… Continue reading Brazilian digital auto marketplace InstaCarro revs up with $23M in funding
Author: Tech Crunch Online News
Lyft reaches adjusted profitability milestone despite continuing net losses
Today after the bell, U.S. ride-hailing company Lyft reported its second quarter financial performance. In aggregate the company’s performance was a rebound from the year-ago second quarter, which was heavily impacted by the onset of the COVID-19 pandemic and resulting lockdowns in the United States. Lyft also managed to produce positive adjusted EBITDA in the… Continue reading Lyft reaches adjusted profitability milestone despite continuing net losses
Kodiak Robotics’ founder says tight focus on autonomous trucks is working
Kodiak Robotics is one of the last private autonomous vehicles companies focused on trucking that is still standing. Nearly all the rest have been wooed by the public marketplace and the capital it can provide. But co-founder and CEO Don Burnette says the three-year-old company’s strategy of staying focused and small(er) is paying off. It… Continue reading Kodiak Robotics’ founder says tight focus on autonomous trucks is working
TuSimple’s self-driving truck network takes shape with Ryder partnership
TuSimple, the self-driving truck company that went public earlier this year, has partnered with Ryder as part of its plan to build out a freight network that will support its autonomous trucking operations. Under the deal announced this week, Ryder’s fleet maintenance facilities will act as terminals for TuSimple’s freight network. TuSimple’s so-called AFN, or… Continue reading TuSimple’s self-driving truck network takes shape with Ryder partnership
Argo AI can now offer the public rides in its autonomous vehicles in California
Argo AI, the autonomous vehicle technology startup backed by Ford and VW, has landed a permit in California that will allow the company to give people free rides in its self-driving vehicles on the state’s public roads. The California Public Utilities Commission issued the so-called Drivered AV pilot permit earlier this month, according to the… Continue reading Argo AI can now offer the public rides in its autonomous vehicles in California
Ford F-150 Lightning electric pickup reservations surpass 120,000
Ford and its F-150 pickup, the automaker’s best-selling vehicle, have consistently inspired brand loyalty from pickup truck owners. According to the J.D. Power 2020 U.S. Automotive Brand Loyalty Study, Ford has a 54.3% loyalty rate. Now as the automaker moves to electrify its fleet, it seems to be bringing in fresh buyers. Ford released Wednesday… Continue reading Ford F-150 Lightning electric pickup reservations surpass 120,000
Ashirase, a Honda incubation, reveals advanced walking assistance system for visually impaired
Globally, 225 million people are estimated to suffer from moderate or severe visual impairments, and 49.1 million are blind, according to 2020 data from the Investigative Ophthalmology and Visual Science journal. A Japanese startup that was incubated at Honda Motor Company’s business creation program hopes to make navigating the world easier and safer for the… Continue reading Ashirase, a Honda incubation, reveals advanced walking assistance system for visually impaired
Egyptian ride-sharing company Swvl plans to go public in a $1.5B SPAC merger
Cairo and Dubai-based ride-sharing company Swvl plans to go public in a merger with special purpose acquisition company Queen’s Gambit Growth Capital, Swvl said Tuesday. The deal will see Swvl valued at roughly $1.5 billion. Swvl was founded by Mostafa Kandil, Mahmoud Nouh and Ahmed Sabbah in 2017. The trio started the company as a… Continue reading Egyptian ride-sharing company Swvl plans to go public in a $1.5B SPAC merger
Fisker invests in EV charging network Allego’s SPAC merger
Less than a year after its own SPAC merger, electric vehicle startup Fisker has turned investor to support EV charging company Allego. Fisker is investing $10 million in private-investment-in-public equity (PIPE) funding for the merger of Allego and special purpose acquisition company Spartan Acquisition Corp III. The merger, announced Tuesday, puts Allego at a pro… Continue reading Fisker invests in EV charging network Allego’s SPAC merger
Joby Aviation, aiming to go to market in 2024, completes 154-mile test flight
Santa Cruz, California-based Joby Aviation has completed the longest test flight of an eVTOL to date: Its unnamed full-sized prototype aircraft concluded a trip of over 150 miles on a single charge, the company said Monday. The test was completed at Joby’s Electric Flight Base in Big Sur, California, earlier this month. It’s the latest… Continue reading Joby Aviation, aiming to go to market in 2024, completes 154-mile test flight