Cathay Innovation, a global venture capital group backed by TotalEnergies, has launched a 1 billion euro ($1 billion) fund to invest in technology start-ups with an eye on sustainability, it said on Tuesday. Cathay Innovation’s third venture fund, backed by multinationals including French drugmaker Sanofi, will focus on sectors such as artificial intelligence, digital health, new mobility and financial technology, it said. “We believe the time is now to accelerate digital… Continue reading VC firm Cathay launches $1b fund to invest in sustainable techThis will be Cathay Innovation’s third venture fund
Category: Tech News
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Pakistani delivery startup Airlift shutters operations as funds dry up
Less than two months after pulling out of several markets, Pakistan’s last-mile delivery startup Airlift told its employees on Tuesday it is shutting down permanently. The announcement did not come as a surprise to employees as Airlift had paused all deliveries across Pakistan during Eid, which typically sees a surge in demand for delivery services.… Continue reading Pakistani delivery startup Airlift shutters operations as funds dry up
Lightspeed raises $500m early-stage fund for India, SE Asia
Venture capital investor Lightspeed Venture Partners has amassed over $7 billion across four funds including $500 million for its vehicle dedicated to India and SE Asia, according to its announcement on Tuesday. Lightspeed India Partners – the backer of prominent startups such as Oyo, BYJU’s and Udaan – closed its $500-million early-stage LSIP Fund IV.… Continue reading Lightspeed raises $500m early-stage fund for India, SE Asia
SEA Digest: Vauld files for moratorium; OJK bans certain financial products
Singapore-based crypto lending and trading platform Vauld has filed an application for a moratorium in local courts while Indonesia’s OJK has banned trading firms from issuing certain financial products. SG’s Vauld seeks moratorium for 6 months Singapore-based crypto lending and trading platform Vauld has filed an application for a moratorium in local courts. With this,… Continue reading SEA Digest: Vauld files for moratorium; OJK bans certain financial products
May Mobility aims for fully driverless autonomous shuttles by 2023
May Mobility, a Michigan-based autonomous ride-hail and shuttle startup, says its most recent round — a $111 million Series C — will help it get to driver-out operations in 2023. To advance its technology and scale its commercial efforts, the company intends to use the funding to triple corporate headcount, particularly in engineering. May will… Continue reading May Mobility aims for fully driverless autonomous shuttles by 2023
Honda key fob flaw lets hackers remotely unlock and start cars
The hackers demonstrating the radio replay attack using a vulnerable Honda keyfob. Honda said it could not determine if the attack was “credible.” Image Credits: Star-V Lab Security researchers have revealed a vulnerability in Honda’s keyless entry system that could allow hackers to remotely unlock and start potentially “all Honda vehicles currently existing on the market.”… Continue reading Honda key fob flaw lets hackers remotely unlock and start cars
Volkswagen, Audi tap Redwood Materials to recycle old EV batteries in US
Volkswagen of America and Audi have locked in a resurrection plan for old battery packs from their growing slate of EVs. The two VW Group brands have contracted with startup Redwood Materials to recover and recycle end-of-life EV battery packs from its thousand-dealership network in the United States. This won’t be the final resting place… Continue reading Volkswagen, Audi tap Redwood Materials to recycle old EV batteries in US
Texas heatwave and energy crunch curtails Bitcoin mining
Bitcoin miners in the Lone Star State are powering down this week as a punishing heatwave stresses the power grid. Texas’ grid operator asked residents and businesses to conserve energy on Monday with “extreme hot weather driving record power demand across Texas.” Bitcoin mining companies in the state responded by turning off their machines that… Continue reading Texas heatwave and energy crunch curtails Bitcoin mining
How Starlink and other satellite services are changing the shape of the internet
With so much attention on Elon Musk’s bizarre Twitter adventures, it’s easy to forget how fast SpaceX’s Starlink project has been moving. In just the past six months, the service has launched service in nine new countries, a new service for vehicles, and a new premium tier. There’s even a spectrum fight quietly bubbling in… Continue reading How Starlink and other satellite services are changing the shape of the internet
India Digest: Ex-Jubilant CEO to head Eureka Forbes; Wheelocity raises $12m led by Lightspeed
Private equity firm Advent International-backed Eureka Forbes has named former Jubilant Foodworks CEO Pratik Pota as its new chief executive officer, effective August 16. Separately, Wheelocity, an India-based supply chain firm, has raised $12 million in a Series A round led by Lightspeed. Former Jubilant Foodworks CEO joins Eureka Forbes Private equity firm Advent International-backed… Continue reading India Digest: Ex-Jubilant CEO to head Eureka Forbes; Wheelocity raises $12m led by Lightspeed