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Rivian spinoff Also raises another $200M to build e-bikes and more | TechCrunch

TechCrunch · 1m ago

Rivian spinoff Also raises another $200M to build e-bikes and more | TechCrunch

Also Inc., a micromobility startup spun out of Rivian, has secured $200 million in funding from Greenoaks Capital, raising its valuation to $1 billion. It was initially funded with $105 million from Eclipse Ventures during its separation from Rivian. Originating as Project Inder, it collaborated with Jony Ive’s firm LoveFrom on an e-bike. Now independent, Also aims to develop various micro-EVs and plans to unveil new designs later this year.

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The startups rolling out of Europe’s early-stage micromobility scene | TechCrunch

TechCrunch · 1m ago

The startups rolling out of Europe’s early-stage micromobility scene | TechCrunch

Europe's early-stage micromobility scene is evolving, focusing on sustainable business models amid tighter capital. Innovations showcased at Micromobility Europe include Convoy's clip-on cargo kit for bikes, Azora Charge's solar-powered e-bike charging stations, Fleetser's marketplace for shared electric bikes, and Switch's AI-driven fleet management solutions. Other notable startups are Zapp, a multi-service app expanding regionally, J2R with its urban-focused electric motorcycles, and Trace Mobility, offering business intelligence for bike-sharing operators. These ventures represent the industry's future growth and diversification.

Yulu raises $19.25 mn from Magna and Bajaj Auto, eyes expansion & new product launch

Economic Times

Economic Times · 1y ago

Yulu raises $19.25 mn from Magna and Bajaj Auto, eyes expansion & new product launch

Yulu Bikes, a shared mobility services provider, has raised $19.25 million in funding from existing investors Magna and Bajaj Auto. The funds will be used to launch a new product, expand the company's reach, and develop technology. Yulu has experienced a significant increase in demand, particularly in Gurugram and Mumbai. The company plans to introduce a new electric scooter for e-commerce deliveries and expand operations to five more metros by 2024. Yulu aims to deploy about 100,000 electric two-wheelers this year and is also exploring opportunities for international exports with its partner Bajaj Auto.

Electric Mobility firm Baaz Bikes raises $8 million in Series A round led by BIG Capital

Money Control

Money Control · 1y ago

Electric Mobility firm Baaz Bikes raises $8 million in Series A round led by BIG Capital

Baaz Bikes, an electric vehicle manufacturing startup in India, has secured $8 million in a Series A funding round led by BIG Capital. The funds will be used for expanding the company's operations, adding more battery swapping stations, and improving its product portfolio and technological innovation. Baaz Bikes offers subscription-based access to its bikes and dense automated battery swapping infrastructure, primarily catering to gig delivery riders working with Zomato, Swiggy, and Amazon. The company plans to expand its footprint in Delhi NCR and launch EV models for bike-taxis.

Rivian lays off 10% of workforce as EV pricing pressure mounts | TechCrunch

TechCrunch · 1y ago

Rivian lays off 10% of workforce as EV pricing pressure mounts | TechCrunch

Electric vehicle manufacturer Rivian is implementing a 10% reduction of its salaried workforce, as well as a limited number of non-manufacturing hourly employees, in an effort to cut costs and navigate the challenging EV market. It marks the third round of layoffs for the company since July 2022. Rivian aims to upgrade its manufacturing line, improve production rates, and invest in its future technologies and facilities. Despite doubling its EV production and revenue in 2023, the company still recorded losses of over $5.4 billion. These recent developments have led to a significant decline in Rivian shares.

Rivian sues to sell its EVs directly in Ohio | TechCrunch

TechCrunch · 4d ago

Rivian sues to sell its EVs directly in Ohio | TechCrunch

Rivian is suing Ohio to sell its electric vehicles directly to consumers, challenging a state law that prevents direct sales by manufacturers. The law, seen as benefiting the dealership lobby, was enacted after Tesla's 2013 license to sell directly. Rivian argues this restriction limits competition and consumer choice. Currently, Rivian's Ohio customers purchase vehicles from other states. Similar legal battles have occurred in Illinois and Texas, with mixed outcomes for electric vehicle manufacturers.

TechCrunch Mobility: The state of EV sales and Rivian secures the next $1B from VW | TechCrunch

TechCrunch · 1m ago

TechCrunch Mobility: The state of EV sales and Rivian secures the next $1B from VW | TechCrunch

TechCrunch Mobility provides insights on transportation's future, highlighting news like Rivian securing $1B from VW amidst sales struggles and autonomous vehicle developments. The newsletter shifted to Beehiiv for enhanced reader engagement. Notable topics include Tesla's "autonomous delivery," the impact of Republican-led legislative changes on EV tax credits, and Pebble's all-electric travel trailer deliveries. Security issues also emerged, with Scattered Spider targeting airlines, and a data breach at Qantas affecting six million passengers.

Gogoro to make e-scooter bikes in India, rolls out battery swap network

Economic Times

Economic Times · 1y ago

Gogoro to make e-scooter bikes in India, rolls out battery swap network

Electric scooter manufacturer Gogoro is entering the Indian market by manufacturing e-scooter bikes in India and setting up around 100 battery swapping stations by mid-2024. The company is investing $1.5 billion in Maharashtra state and has already begun production of its CrossOver e-scooter. Initially, the e-scooters will be sold to delivery fleet operators and bike taxis, with a variant for personal use to be launched next year. Gogoro also plans to export these vehicles from India and expects 20% of its production to be exported to neighboring countries.

Cybersecurity asset management startup Axonius raises $200M led by Accel, Lightspeed

IndianStartupNews

IndianStartupNews · 1y ago

Cybersecurity asset management startup Axonius raises $200M led by Accel, Lightspeed

Cybersecurity asset management and SaaS management startup, Axonius, has raised $200 million in a Series E extension funding round led by Accel and Lightspeed Venture Partners. The funding will be used to support the company's global expansion and innovation in response to the increasing demand for its platform. Axonius provides a unified platform for managing digital infrastructure components, boasting over 1,000 platform integrations and offering a comprehensive view of assets, relationships, and business context. The company recently launched its Axonius 6.0 platform, which combines Cyber Asset Attack Surface Management, SaaS Security Posture Management, and SaaS Management Platforms.

TechCrunch Mobility: Uber makes a bet on premium robotaxis | TechCrunch

TechCrunch · 18d ago

TechCrunch Mobility: Uber makes a bet on premium robotaxis | TechCrunch

Uber is making significant investments in autonomous vehicle technology, partnering with companies like Lucid and Nuro to develop premium robotaxis. Uber invested $300 million in Lucid and reportedly $400 million in Nuro. Meanwhile, startup Bedrock Robotics, founded by former Waymo members, secured $80 million in funding. Other notable developments include fundraising rounds for Amogy and Gridserve, as well as notable updates from companies like GM, Rivian, and Joby Aviation involving electric and autonomous technologies.

Electric cycle startup EMotorad raises Rs. 160 Cr led by Panthera

Entrackr

Entrackr · 1y ago

Electric cycle startup EMotorad raises Rs. 160 Cr led by Panthera

EMotorad, an electric cycle manufacturing company, has raised $20 million in a Series B funding round led by Panthera Growth Partners. The startup plans to use the funds to develop smart electric cycles, enhance manufacturing capabilities, and expand its offline presence in domestic and overseas markets. EMotorad sells eco-friendly e-bikes at affordable prices and is present in 18 countries, including the US, UAE, and Australia. The company aims to expand its sales to 100,000 electric cycles globally by FY25 and achieve EBITDA profitability in the next 24 months.

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