Canadian electric truck and bus manufacturer The Lion Electric Company said Monday it plans to become a publicly traded company via a merger with special purpose acquisition company Northern Genesis Acquisition Corp. The combined company, which will be listed on the New York Stock Exchange, will have a valuation of $1.9 billion. The companies raised… Continue reading EV bus and truck maker The Lion Electric to take SPAC route to public markets
Author: Tech Crunch Online News
DoorDash aims to add $11 billion to its valuation during public offering
The delivery platform gave a range of $75 to $85 per share Alex Wilhelm 10 hours This morning, DoorDash filed a new S-1 document, this time updating the market about the price it expects to command during its public offering. The food-delivery giant gave a range of $75 to $85 per share, which would revalue… Continue reading DoorDash aims to add $11 billion to its valuation during public offering
As e-bikes boom, FuroSystems raises its first venture funding round ahead of a new model launch
With COVID-19 making commuters switch to bikes, and cities wanting cleaner air, the e-bike revolution is only just getting started. Further evidence of this is the news that today British e-bike manufacturer FuroSystems has closed its first institutional venture funding round of £750,000 with participation by TSP Ventures and European impact investment bank ClearlySo, as… Continue reading As e-bikes boom, FuroSystems raises its first venture funding round ahead of a new model launch
Caura, the app for UK car owners, begins offering insurance
Caura, the U.K. startup that wants to take the hassle out of car ownership, is launching car insurance — unveiling its insurtech ambitions. Dubbed “Caura Protect,” the new insurance product claims to reduce the cost and time taken to insure a car, building on the app’s existing car management features. Launched earlier this year by… Continue reading Caura, the app for UK car owners, begins offering insurance
Mobileye taps Luminar to supply lidar for its robotaxi fleet
Luminar, the buzzy sensor startup that is on the verge of becoming a publicly traded company, locked in a supplier deal to furnish Intel subsidiary Mobileye with lidar for its fleet of autonomous vehicles. The deal, announced Friday, will see a rising star paired with a company that has long dominated the automotive industry. While… Continue reading Mobileye taps Luminar to supply lidar for its robotaxi fleet
Lime touts a 2020 turnaround and 2021 profitability
Micromobility company Lime says it has moved beyond the financial hardship caused by the COVID-19 pandemic, reaching a milestone that seemed unthinkable earlier this year. In short, the company is now largely profitable. Lime said it was both operating cash flow positive and free cash flow positive in the third quarter — a first —… Continue reading Lime touts a 2020 turnaround and 2021 profitability
Arrival becomes latest electric vehicle startup to test the public markets with a SPAC
Arrival has gone from stealthy electric vehicle startup to prospective public company in a span of a year. The UK-based company, which operated in relative secrecy for several years until January when it announced a $110 million investment from Hyundai and Kia, said Wednesday it has agreed to merge with special purpose acquisition company CIIG… Continue reading Arrival becomes latest electric vehicle startup to test the public markets with a SPAC
Nigeria’s Autochek raises $3.4M for car sales and service platform
Nigeria based startup Autochek looks to bring the sales and servicing of cars in Africa online. The newly founded venture has closed a $3.4 million seed-round co-led by TLcom Capital and 4DX ventures toward that aim. The raise comes fresh off of Autochek’s September acquisition of digital car sales marketplace Cheki in Nigeria and Ghana.… Continue reading Nigeria’s Autochek raises $3.4M for car sales and service platform
Tesla gets a spot on the S&P 500
Tesla will be added to the S&P 500, a milestone that will expand its investor base and put the electric automaker in the same company as heavyweights like Apple, Berkshire Hathaway and Microsoft. The announcement, made Monday afternoon by the S&P Dow Jones Indices, sent shares 13.7% higher in after-market trading. Tesla will officially join the benchmark… Continue reading Tesla gets a spot on the S&P 500
Ride Vision raises $7M for its AI-based motorcycle safety system
Ride Vision, an Israeli startup that is building an AI-driven safety system to prevent motorcycle collisions, today announced that it has raised a $7 million Series A round led by crowdsourcing platform OurCrowd. YL Ventures, which typically specializes in cybersecurity startups but also led the company’s $2.5 million seed round in 2018, Mobilion VC and… Continue reading Ride Vision raises $7M for its AI-based motorcycle safety system