Jeff Bezos-backed fintech startup Lummo [formerly known as BukuKas] is letting go of its staff and halting the expansion of LummoSHOP — its service that allows offline merchants to set up online stores, DealStreetAsia has learnt. So far, about 100 employees have lost their jobs, according to people familiar with the matter. The company is… Continue reading Indonesia’s Lummo cutting jobs, halting LummoShop expansion …
Category: Tech News
Category Added in a WPeMatico Campaign
China Deal Review: Startups raise over $3.8b as PE-VC funding activity climbs in May
Startups headquartered in Greater China raised more than $3.8 billion in PE-VC funding in May 2022, up 41.2% month-on-month. At 190, the deal volume also increased by 11.8% from April — a sign that funding activity in the second quarter will overtake the previous quarter’s performance as the post-pandemic recovery continues. The number of venture… Continue reading China Deal Review: Startups raise over $3.8b as PE-VC funding activity climbs in May
India’s latest unicorn PW founder says not approached by any investor in first 18 months
The founder of Indian edtech startup PhysicsWallah (PW), Alakh Pandey, is overwhelmed by the sudden surge in media requests for interactions and investor interest a day after raising $100 million in its Series A round from WestBridge Capital and GSV Ventures and becoming a unicorn. At a time Indian edtech startups are grappling to stay… Continue reading India’s latest unicorn PW founder says not approached by any investor in first 18 months
Satellite internet poised for big bang of growth in Southeast Asia
Elon Musk’s SpaceX is among the many companies competing to provide satellite-based internet service in Southeast Asia, seeing it as the answer to the slow, unreliable communications the region’s vast number of netizens have been putting up with. “Starlink approved by The Philippines:” Musk tweeted as soon as the country’s telecommunications regulator approved SpaceX’s Starlink… Continue reading Satellite internet poised for big bang of growth in Southeast Asia
Faraday Future says it plans to open a Chinese factory by mid-decade
Faraday Future said Wednesday during an investor presentation that it plans to open a factory in China as early as 2025, even as it faces a shortage of capital and an SEC investigation. The electric vehicle maker said it is scouting locations for a site to build its future vehicles and serve as a local… Continue reading Faraday Future says it plans to open a Chinese factory by mid-decade
Mobility marketplaces and brake repair on TechCrunch Live
Walker Drewett founded NuBrakes in May 2019. According to Mike Ghaffary, GP at Canvas Ventures, Drewett is building a high-growth business powered by a marketplace model, which is why Ghaffary led the company’s Series A. The product is simple: On-demand vehicle brake repair services. Join this episode to hear how Drewett raised capital and built… Continue reading Mobility marketplaces and brake repair on TechCrunch Live
Fisker announces 50k Ocean reservations alongside new details and image of the PEAR
Fresh off a promising annual call with shareholders yesterday, Fisker Inc. is back with additional news pertaining to its first two EV models. In addition to confirming 50,000 reservations for its flagship Ocean SUV, Fisker has shared a second image of the upcoming PEAR along with additional details. Since we covered much of the recent… Continue reading Fisker announces 50k Ocean reservations alongside new details and image of the PEAR
Audi’s charging hub proves successful in pilot phase, several more charging sites to follow
Following a six-month pilot phase of its first charging hub site in Nuremberg Germany, Audi has seen a number of return customers and “overwhelmingly positive” feedback. As a result, the German automaker has announced plans to expand the charging hub model to other sites, beginning later this year. Last summer, Audi AG announced an electrification strategy… Continue reading Audi’s charging hub proves successful in pilot phase, several more charging sites to follow
Tesla Gigafactory Shanghai is going out of ‘closed loop’ with workers sleeping at the plant this week
Tesla is planning to get Gigafactory Shanghai out of its ‘closed loop’ system with workers sleeping at the factory by the end of the week. Like many other companies, Tesla had to shut down production at its Shanghai factory last month after local authorities imposed serious lockdowns on the population in an attempt to limit… Continue reading Tesla Gigafactory Shanghai is going out of ‘closed loop’ with workers sleeping at the plant this week
Tesla files to use a new radar and everyone is confused
Tesla has filed to use a new radar in its electric vehicles, and everyone is confused since Elon Musk has made it clear that Tesla plans to achieve self-driving with camera-based vision only. After years of using a suite of sensors that included both cameras and a radar, Tesla announced a transition to its “Tesla… Continue reading Tesla files to use a new radar and everyone is confused