Electric truck maker Rivian is reportedly planning to lay off hundreds of workers. While the company hasn’t made a firm decision on mass job cuts, according to Bloomberg, it may shed around five percent of the workforce. With a headcount of more than 14,000, that equates to around 700 employees. Layoffs may be announced in… Continue reading Rivian reportedly plans to lay off around five percent of its workforce
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S Korea’s KVIC commits $23m to AC Ventures, Gobi Partners, Highlight CapitalThe funds of AC Ventures and Gobi Partners will receive $6.5m each.
South Korean government-backed fund-of-funds manager Korea Venture Investment Corporation (KVIC) has approved a capital commitment of $23 million for three funds in Asia, according to a disclosure. KVIC committed $6.5 million each to the vehicles of Jakarta-based early-stage investor AC Ventures, pan-Asian venture capital firm Gobi Partners and $10 million to China-based healthcare-focused investment firm… Continue reading S Korea’s KVIC commits $23m to AC Ventures, Gobi Partners, Highlight CapitalThe funds of AC Ventures and Gobi Partners will receive $6.5m each.
Australian BNPL player Zip drops plans of acquiring US rival Sezzle
Australian buy-now-pay-later (BNPL) firm Zip Co Ltd dropped its plan to buy out US rival Sezzle Inc, the companies said on Tuesday, adding to the list of fallen deals as rising interest rates hurt consumer finance firms. As part of terminating the deal, which is effective immediately, Sezzle would receive $11 million from Zip, the… Continue reading Australian BNPL player Zip drops plans of acquiring US rival Sezzle
Billionaire investor Bill Ackman to wind up SPAC, return $4b to investors
Billionaire investor William Ackman, who had raised $4 billion in the biggest-ever special purpose acquisition company (SPAC), told investors he would be returning the sum after failing to find a suitable target company to take it public through a merger. The development is a major setback for the prominent hedge fund manager who had initially… Continue reading Billionaire investor Bill Ackman to wind up SPAC, return $4b to investors
Temasek’s push for a net-zero portfolio
With at least 50 investments in startups across Asia, the US, Europe, and Australia, Temasek Holdings has continued to be one of the most active state investors, amid a year of market volatility and broad economic uncertainty. While the cheque sizes and investment stages that the Singapore state investor participated in varied, it appears to… Continue reading Temasek’s push for a net-zero portfolio
Vietnamese e-commerce firm Sendo raises $57m via convertible loans since 2020
Vietnam-based e-commerce firm Sendo has raised about $56.7 million through convertible loans since 2020, per its latest financial statements reviewed by DealStreetAsia. In 2021, the company issued two tranches of convertible notes to investors including Econtext Asia Limited — a subsidiary of the Japanese payments and e-commerce solutions firm Digital Garage Group — SBI Holdings’… Continue reading Vietnamese e-commerce firm Sendo raises $57m via convertible loans since 2020
This remote keyfob hack may leave the past decade of Hondas vulnerable
Security researchers and The Drive’s Rob Stumpf have recently posted videos of themselves unlocking and remotely starting several Honda vehicles using handheld radios, despite the company’s insistence that the cars have security protections meant to stop attackers from doing that very thing. According to the researchers, this hack is made possible because of a vulnerability… Continue reading This remote keyfob hack may leave the past decade of Hondas vulnerable
Battery recycling could be the next investor darling of the EV era
Automakers and suppliers, keen to fortify an EV supply chain and avoid raw materials shortages, are turning to a domain once overlooked: battery recycling. Suddenly awash in interest from EV makers and venture firms, the sector has seen a spate of partnerships and funding deals in the past 18 months. The momentum appears to be… Continue reading Battery recycling could be the next investor darling of the EV era
Here’s where Tesla’s recently laid-off talent is going
Tesla has been laying off thousands of employees over the last month, and a survey of where they are going has yielded interesting results. Where they are not going is just as interesting. Last month, we reported on Elon Musk telling Tesla executives in an email that they need to cut 10% of the workforce and pause… Continue reading Here’s where Tesla’s recently laid-off talent is going
Need to register a leased Tesla in a different US state? Here’s what to know
I moved to a different state, and it took nearly three months to complete the registration of my leased Tesla Model 3. Here’s what to know. Registering a leased Tesla in a different state I leased my first Tesla, a Model 3, in June 2021. In spring 2022, we moved from Florida to Vermont. We… Continue reading Need to register a leased Tesla in a different US state? Here’s what to know