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Via raises $200 million to develop and expand its mobility services

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Mobility services startup Via has raised a further $200 million in its latest funding round.

Money raised in Via’s Series E fuding round will be used to “expand access to efficient, sustainable, and equitable public mobility across the globe”, says the company.

John Elkann, chairman and CEO of Exor, lead investor in the financing, says: “More important than ever to work for an innovative and sustainable future.” [Read more…] about Via raises $200 million to develop and expand its mobility services

Trump announces tariffs on imports from Mexico

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After recently increasing the percentage of tariffs and applying them to a broader range of Chinese imports, US President Donald Trump has now imposed new tariffs on imports from Mexico. 

The proposed 5 percent tariff on all Mexican imports is yet to be made official, but Trump’s announcement has already caused concern across a range of sectors.

Trump said today on Twitter: “On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied, at which time the Tariffs will be removed. Details from the White House to follow.” [Read more…] about Trump announces tariffs on imports from Mexico

Xometry raises $50 million for on-demand parts marketplace

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Xometry, the largest on-demand manufacturing marketplace, has raised $50m in equity funding, led by Greenspring Associates.

The new funding will back efforts to build a platform connecting suppliers to businesses that need prototypes and small runs of parts.

Dell Technologies Capital will also participate in the round, along with all previous venture and strategic investors including BMW i Ventures, Foundry Group, GE Ventures, Highland Capital Partners, Maryland Venture Fund and Almaz Capital. Xometry has raised a total of $113m to date.

[Read more…] about Xometry raises $50 million for on-demand parts marketplace

GM’s autonomous driving business Cruise raises another $1.15 billion

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The autonomous driving business which General Motors acquired three years ago, Cruise, has raised more than $1 billion in its latest funding round, bringing total capital raised to approximately $7 billion.

Cruise says the equity investment of $1.15 billion is from a group comprising institutional investors, including funds and accounts advised by T. Rowe Price Associates, and existing partners GM, SoftBank Vision Fund and Honda.

Dan Ammann, Cruise CEO, says: “Developing and deploying self-driving vehicles at massive scale is the engineering challenge of our generation.

[Read more…] about GM’s autonomous driving business Cruise raises another $1.15 billion

Top 25 vertical farming companies

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The phrase “vertical farming” probably doesn’t need to be explained even though it’s quite new. But anyway, vertical farming refers to the practice of producing fruits and vegetables vertically, in stacked layers, perhaps on many floors inside a building, using artificial lights instead of the sun, and a whole range of relatively new technologies.

The two main reasons why this type of farming, which is also known as indoor farming, it’s a much-discussed topic now is because:

  1. there are a number of startup companies emerging in the sector and attracting tens of millions of dollars in investment; and
  2. more people live in cities than do in rural areas, a global trend which seems irreversible, and this means that the demand for fresh produce will increase in urban areas, and bringing the production closer to the consumer would make sense.

The third thing we could have added is that there is the range of new technologies available now that make vertical farming in urban areas cost-effective and possibly profitable. But we already mentioned that.

[Read more…] about Top 25 vertical farming companies

Robotic toymaker Anki to close down

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Anki, a startup company which made robotic toy cars and trucks, is planning to close its doors, according to a report on the Recode website.

The company had raised more than $200 million in funding for the venture, and generated $100 million in revenue in 2017, but is now making all of its 200 employees redundant.

In a statement to Recode, the company says that it had been left “without significant funding” which meant it could not finance its hardware and software development plans going forward.

[Read more…] about Robotic toymaker Anki to close down

Veo Robotics could make all industrial robots collaborative

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Traditional industrial robots tend to be very large and potentially dangerous, which is why they tend to be caged off and kept separate from human workers.

But a new company called Veo Robotics says it has the technology to transform traditional industrial robotic arms into safe machines that humans can work alongside, within close proximity.

Veo’s solution could make every industrial robot a collaborative robot. The term “collaborative” is recognized by international standards organizations and usually applies to much smaller, newer types of robots which are specifically designed to safe for humans to work with.  [Read more…] about Veo Robotics could make all industrial robots collaborative

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