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Electric Vehicles

Tesla's Vehicle Programs Chief Leaves for Waymo Ahead of Robotaxi Launch

Tesla's Vehicle Programs Chief Leaves for Waymo Ahead of Robotaxi Launch

Tesla has lost Daniel Ho, its head of vehicle programs, to Waymo just before the EV company's robotaxi unveiling. Ho, who previously reported to CEO Elon Musk, played a key role in ramping up production of the Model Y and Cybertruck, and setting the stage for the robotaxi development. At Waymo, he will oversee programs as the company integrates the Hyundai Ioniq 5 into its fleet and prepares to scale its custom Zeekr robotaxis. This executive shift comes amid other management changes at Tesla, highlighting a significant transition in leadership.

Created at: October 8, 2024 8:21am

Ola Electric Faces Regulatory Scrutiny Over Consumer Rights Violations

Ola Electric Faces Regulatory Scrutiny Over Consumer Rights Violations

The Central Consumer Protection Authority of India has issued a show-cause notice to Ola Electric, citing alleged consumer rights violations, including misleading advertisements and unfair trade practices. The company has 15 days to respond, as it grapples with escalating customer complaints—over 80,000 monthly—regarding its scooters and service quality. Analysts from HSBC reported that Ola's service centers are overwhelmed and inadequately equipped to handle the volume of requests. Consequently, Ola's shares plummeted 9.1% on Monday, marking a significant decline since its IPO.

Created at: October 8, 2024 8:21am

US Judge Orders Google to Open Play Store to Competitors

US Judge Orders Google to Open Play Store to Competitors

A federal judge has mandated Google to allow more competition in its app store, Google Play, enhancing user choice for Android app downloads. Judge James Donato's ruling prohibits Google from paying developers for exclusive app launches on its platform for three years, starting November 1. Additionally, developers are no longer required to use Google Play’s billing system and can inform users of alternative payment methods. Google must also permit third-party app stores access to its app catalog. In response, Google plans to appeal, arguing the changes threaten its competitiveness against Apple’s iOS.

Created at: October 8, 2024 8:20am

VESSL AI Raises $12M to Revolutionize MLOps and Slash GPU Costs

VESSL AI Raises $12M to Revolutionize MLOps and Slash GPU Costs

VESSL AI, a South Korean MLOps startup, has secured $12 million in Series A funding to enhance its platform, which aims to reduce GPU costs by up to 80%. The company utilizes a hybrid infrastructure that combines on-premise and cloud resources, catering to enterprises developing large language models and AI agents. With 50 enterprise clients, including Hyundai and TMAP Mobility, VESSL has established partnerships with Oracle and Google Cloud. The funding will accelerate development, addressing the growing demand for efficient machine learning operations amidst rising AI integration in businesses.

Created at: October 8, 2024 8:19am

TechCrunch Disrupt 2024 Unveils ScaleUp Startups to Watch

TechCrunch Disrupt 2024 Unveils ScaleUp Startups to Watch

TechCrunch has announced the launch of its ScaleUp Startup Exhibitor Program at Disrupt 2024, taking place from October 28-30 in San Francisco. This initiative aims to spotlight Series A and B startups, providing them a platform to showcase their innovations to over 10,000 attendees. Participating startups include 8vdX, Agent2.AI, and BeyimTech, among others, each bringing unique tech solutions to the forefront. The Expo Hall will serve as a hub for connections between emerging companies and potential investors. Registration is now open for those interested in attending this pivotal tech event.

Created at: October 8, 2024 8:19am

NFX Restructures Workforce, Lays Off Four but Plans to Expand Investment Team

NFX Restructures Workforce, Lays Off Four but Plans to Expand Investment Team

NFX, a venture capital firm based in San Francisco, recently laid off four employees, including a product leader and three engineers, as part of a resource reallocation strategy. General partner Pete Flint revealed that the firm aims to enhance its investing team, leveraging AI to streamline operations. Despite the layoffs, NFX plans to hire additional investors in both San Francisco and Israel. The firm has promoted several team members and expects to increase its overall workforce. NFX has raised nearly $1 billion across its funds, focusing on seed-stage investments in various sectors.

Created at: October 8, 2024 8:19am

General Catalyst Plans $1B Continuation Fund to Manage Late-Stage Startup Stakes

General Catalyst Plans $1B Continuation Fund to Manage Late-Stage Startup Stakes

General Catalyst is set to launch a continuation fund valued between $800 million and $1 billion, focusing on stakes in late-stage startups like Stripe, Gusto, and Circle. This fund allows the firm to retain management of its portfolio shares while providing original investors options to cash out or roll into the new fund. The rising popularity of continuation funds among venture capitalists reflects a shift due to fewer IPOs and M&A activities. Although beneficial, some limited partners may face losses due to the typical discount on secondaries. General Catalyst has not yet commented on this initiative.

Created at: October 8, 2024 8:15am

Chainalysis CEO Michael Gronager Takes Temporary Leave of Absence

Chainalysis CEO Michael Gronager Takes Temporary Leave of Absence

Michael Gronager, co-founder and CEO of Chainalysis, has announced a temporary leave of absence, with no specific reasons disclosed. Sari Granat, the company's President and COO, will serve as the interim CEO during this period. Chainalysis, known for its blockchain analysis services, previously laid off over 15% of its workforce, focusing more on government contracts. The company was valued at $8.6 billion in 2022, and notable investors like Katie Haun have shown interest in its shares. The organization continues to work closely with U.S. government agencies.

Created at: October 8, 2024 8:14am

French Biotech Generare Raises €5M to Revolutionize Drug Discovery

French Biotech Generare Raises €5M to Revolutionize Drug Discovery

French biotech startup Generare has successfully closed a €5 million seed funding round to enhance its innovative platform for drug discovery. The startup focuses on identifying natural molecules produced by microorganisms, utilizing advanced genetic engineering techniques. Generare has already uncovered over 1,000 genetic recipes, including novel compounds with antibiotic properties. Its scalable approach promises to expedite the analysis of genetic material, potentially leading to groundbreaking pharmaceutical developments. The company aims to industrialize its processes while addressing crucial antibiotic resistance challenges in the healthcare sector.

Created at: October 8, 2024 8:14am

Revyze, the 'TikTok for Education,' Secures €5.5 Million in Funding

Revyze, the 'TikTok for Education,' Secures €5.5 Million in Funding

French startup Revyze, likened to 'TikTok for education,' has gained significant traction, amassing one million users in two years and reaching the top of Apple’s App Store. The app, designed to facilitate bite-sized learning, has attracted content from 2,000 creators, totaling 40,000 videos. Recently, Revyze closed a €5.5 million seed round led by Speedinvest and Moonfire. The company aims to refine engagement strategies in the U.S., incorporating features inspired by Duolingo and gamification to enhance user experience. Their content monetization program for creators also reflects a unique approach to education technology.

Created at: October 8, 2024 8:14am

Lightdash Secures $11M to Enhance AI-driven Business Intelligence

Lightdash Secures $11M to Enhance AI-driven Business Intelligence

Lightdash, an open-source business intelligence platform, has raised $11 million in a Series A funding round led by Accel. The startup aims to empower companies with AI analysts tailored to specific team needs, enabling natural language queries for data insights. Originally known as Hubble, Lightdash pivoted from data quality testing to BI tools in 2021. The platform integrates seamlessly with SQL-based tools and prioritizes data security, allowing users to select their preferred LLM providers. With a seven-fold revenue increase in the past year, Lightdash plans to expand its team and product offerings.

Created at: October 8, 2024 8:14am