Autonomous vehicles need more than a brain to operate safely in a world filled with obstacles. They need maps. Or more specifically, self-driving vehicles need maps that constantly refresh and can deliver important information — like that sudden lane closure due to construction or a double-parked vehicle — so they can take the safest and… Continue reading Carmera, the mapping startup for autonomous vehicles, raises $20 million
Author: Tech Crunch Online News
Southeast Asia’s Grab plans electric vehicle push
Grab, the ride-hailing company that consumed Uber’s business in Southeast Asia, today made a big push to grow the number of electric vehicles in its fleet after it partnered with energy supplier Singapore Power. The deal will see Grab add 200 new ‘fast-charging’ EVs to its fleet in Singapore with SP providing “preferential” pricing at the… Continue reading Southeast Asia’s Grab plans electric vehicle push
Hyundai leads $14.3M investment in Indian car rental startup Revv
Korean automaker Hyundai is jumping into India’s on-demand mobility space after it led a $14.3 million investment in car-rental startup Revv. Hyundai, which is the second largest seller of cars in India, initially announced an undisclosed investment in Revv this week, but now the startup has confirmed that the capital is part of a larger 100… Continue reading Hyundai leads $14.3M investment in Indian car rental startup Revv
A new unicorn is born: Root Insurance raises $100 million for a $1 billion valuation
Root Insurance, an Ohio-based car insurance startup with a tech twist, said Wednesday it has raised $100 million in a Series D funding round led by Tiger Global Management, pushing the company’s valuation to $1 billion. Redpoint Ventures, Ribbit Capital and Scale Venture Partners all participated as follow-on investors in this latest round. The car… Continue reading A new unicorn is born: Root Insurance raises $100 million for a $1 billion valuation
On Tesla’s path to privatization, Morgan Stanley halts equity coverage of electric automaker
Morgan Stanley is no longer providing equity coverage on Tesla’s stock, the second firm to drop its stock rating on the electric automaker since CEO Elon Musk announced plans via Twitter to take the company private. Tesla declined to comment. Morgan Stanley could not be reached for comment to explain why it dropped Tesla. However,… Continue reading On Tesla’s path to privatization, Morgan Stanley halts equity coverage of electric automaker
Uber finally hires a CFO as it heads for an IPO
Uber’s search for a chief financial officer — and the person who will steer the company toward an IPO — is over. The ride-hailing company said Tuesday its new CFO is Nelson J. Chai, the former CEO of insurance and warranty provider Warranty Group. Chai has the kind of experience Uber will need to navigate a successful… Continue reading Uber finally hires a CFO as it heads for an IPO
Bird and Lime are protesting Santa Monica’s electric scooter recommendations
Lime and Bird are protesting recommendations in Santa Monica, Calif. that would prevent the electric scooter companies from operating in the Southern California city. We first saw the news over on Curbed LA, which reported both Lime and Bird are temporarily halting their services in Santa Monica. Last week, Santa Monica’s shared mobility device selection committee… Continue reading Bird and Lime are protesting Santa Monica’s electric scooter recommendations
Nuro and Kroger are deploying self-driving cars for grocery delivery in Arizona today
Self-driving car startup Nuro is ready to put autonomous vehicles on the road in partnership with Kroger to deliver groceries in Scottsdale, Arizona. This comes a couple of months after Nuro and Kroger announced their partnership to offer same-day deliveries. This pilot will serve a single Fry’s Food and Drug location in Scottsdale starting today. Customers… Continue reading Nuro and Kroger are deploying self-driving cars for grocery delivery in Arizona today
Uber reports Q2 losses of $404 million, up 32 percent from Q1
While Uber isn’t required to disclose its financial results, Uber has done so for the past few quarters as it gears up to go public next year. In Q2 2018, Uber’s net revenue was up 8 percent quarter-over-quarter, at $2.7 billion. Year-over-year, that’s a 51 percent increase. Uber recorded gross bookings — the total taken… Continue reading Uber reports Q2 losses of $404 million, up 32 percent from Q1
Uber is on a hiring spree in Singapore despite ‘exiting’ Southeast Asia
Uber agreed to sell its Southeast Asia business in March, but it isn’t leaving the region. In fact, the U.S. firm is doubling down with plans to more than double its staff in Singapore. That’s right. Uber is currently in the midst of a major recruitment drive that will see Singapore, the first city it… Continue reading Uber is on a hiring spree in Singapore despite ‘exiting’ Southeast Asia