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Category: Tech News
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Bird tells SEC it overstated revenue for two years
Micromobility company Bird said Monday it had overstated its revenue for more than two years by recognizing unpaid customer rides. Bird’s audit committee found on Friday that the company’s financial reports spanning the first quarter of 2020 through the second quarter of 2022 “should no longer be relied upon,” according to a U.S. Securities and… Continue reading Bird tells SEC it overstated revenue for two years
NASA says Artemis SLS Moon rocket is good to go for next launch attempt
NASA’s Space Launch System rocket with the Orion spacecraft aboard is seen atop the mobile launcher at Launch Pad 39B, Friday, November 11, 2022 Image: NASA NASA’s Artemis 1 mission management team have given the all clear for the giant Space Launch System (SLS) rocket and Orion spacecraft to proceed with the next launch attempt… Continue reading NASA says Artemis SLS Moon rocket is good to go for next launch attempt
Waymo’s robotaxis are basically mobile weather stations now
/ Autonomous vehicles are notoriously bad at operating in inclement weather, so the Alphabet company developed a new metric to generate better estimates about conditions in foggy San Francisco. Autonomous vehicles have difficulty navigating bad weather. Heavy rain, snow, and fog can do a lot to scramble an AV’s perception systems, which largely rely on… Continue reading Waymo’s robotaxis are basically mobile weather stations now
DFC invests $9m in EV startup Yulu and India deals worth $104mYulu last raised $82m in a Series B round led by Magna International in September.
Shared electric mobility-as-a-service (MaaS) startup Yulu has secured a loan worth $9 million (Rs 73 crore) from the US International Development Finance Corporation (DFC), it announced on Monday. The funds will help Yulu move closer to its vision of enabling green last-mile mobility for people movement and goods deliveries, it said in a statement. Go… Continue reading DFC invests $9m in EV startup Yulu and India deals worth $104mYulu last raised $82m in a Series B round led by Magna International in September.
India Resurgence Fund invests $68m in restaurant-operator ImpresarioImpresario received an investment from L Catterton in 2017.
India Resurgence Fund (IndiaRF), an India-focused investment platform promoted by Piramal Enterprises Limited and Bain Capital, on Monday announced that it has invested about $68 million (Rs550 crores) in Impresario Entertainment and Hospitality Private Limited. Following the transaction, IndiaRF has become the majority shareholder of Impresario, it said in a statement. The fresh capital will… Continue reading India Resurgence Fund invests $68m in restaurant-operator ImpresarioImpresario received an investment from L Catterton in 2017.
Temasek said to be weighing sale of Advanced MedTech at around $1b valuation
Temasek Holdings is considering selling Advanced MedTech, multiple sources told Reuters on Monday, after the medical devices firm, fully-owned by the Singaporean state investor, received interest from suitors including buyout funds. Two investment banks have been tapped to launch a sale process for Singapore-headquartered MedTech, which could be valued at roughly $1 billion, two of… Continue reading Temasek said to be weighing sale of Advanced MedTech at around $1b valuation
Indonesia’s SWF, China’s CATL, CMBI to set up $2b fund for electric vehicles
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Renewables-focused Alcazar Energy Partners II raises $337m from AIIB, othersThe fund is aiming to achieve up to $500m in its final closing.
The Middle East-focussed power producer and developer Alcazar Energy Partners has received $337 million for its fund Alcazar Energy Partners II, which targets solar and onshore wind technologies. The fund, which is aiming to achieve up to $500 million in its final closing, with a hard cap of $650 million, will deploy capital in clean… Continue reading Renewables-focused Alcazar Energy Partners II raises $337m from AIIB, othersThe fund is aiming to achieve up to $500m in its final closing.
SaaS startup Lentra raises $60m, HDFC partially divests stake
SaaS platform Lentra said on Monday that it has raised $60 million as part of its Series B funding round led by Bessemer Venture Partners, and SIG Venture Capital at a valuation of over $400 million. Incorporated in July 2018, Lentra is in the business of designing, developing, licensing, and implementing software products for the… Continue reading SaaS startup Lentra raises $60m, HDFC partially divests stake