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Wondering if you missed us? Despite the July 4 holiday quieting things down last week, there were still notable happenings. Unsurprisingly, Fisker continues to grab headlines as it moves through bankruptcy. The Rivian-Volkswagen Group collaboration has sparked some intrigue, while Uber has unexpectedly stirred up controversy over driver fingerprinting in California.
There’s much to explore regarding startups. And guess what? I had the chance to chat with Jon McNeill, co-founder and partner at DVx Ventures. You might recognize Jon from his time as Tesla’s president, COO at Lyft, or his recent role on the boards of GM and Cruise. Tune into this episode of the Equity podcast where Jon and I delve into how Elon Musk’s compensation package impacts founders, the strategy of balancing cash with equity, and DVx Ventures’ innovative investment model which deviates from the usual management fee setup.
Want more insights? Check out my other podcast, the Autonocast, for a new episode where we discuss the evolution of fueling stations with Ted Ryan, Ford’s brand manager for archives and heritage, the transition from gas stations to EV charging, and Coke’s role in it all.
Let’s dive in.
Insider Whispers
An insider tipped us off following the announcement of the mammoth $5 billion deal between Volkswagen Group and Rivian. The partnership aims to leverage Rivian’s software and electrical design acumen alongside VW’s financial strength and manufacturing capabilities.
Interestingly, VW Group has been courting Rivian’s software talent for quite a while now. Our source revealed a migration of Rivian employees to VW’s software division Cariad, a move confirmed by LinkedIn activities. Around two dozen key staff from Rivian have joined Cariad’s ranks over recent months, becoming a part of their 6,000-strong workforce. Notably, these hires are concentrated at Cariad’s SDV Hub in Silicon Valley, a site pivotal to developing “software 2.0”, the next-gen software architecture pursued by automakers today.
Key hires include Rivian’s ex-chief software and product security officers, as well as other prominent figures in software engineering. These moves underscore the industry-wide pivot towards highly sophisticated vehicular software.
Have insights to share? Reach us at Kirsten Korosec at kirsten.korosec@techcrunch.com, Sean O’Kane at sean.okane@techcrunch.com, or Rebecca Bellan at rebecca.bellan@techcrunch.com. Read more on securely contacting us here.
Investment Highlights
This week featured a mix of fascinating deals. Here are the standouts:
Altrove, based in France, secured €3.7 million (approx. $4 million) for its pioneering AI-driven lab automation techniques aimed at generating alternatives to rare earth metals.
Cartken, known for its advanced sidewalk delivery robots, raised $22.5 million cumulatively, with $10 million from its recent round led by 468 Capital. Supported by a range of technology and strategic investors, this funding will further their innovation in autonomous deliveries.
Phyron, a Swedish AI venture in the video space, garnered €10 million ($10.8 million) in a Series B investment, attracting attention from major players in automotive retail for its automated video software tailored for car dealerships.
The Lasso, reincarnated from Revv, raised $9.8 million across three rounds, aiming to revolutionize auto sales online. Leading investors include Crosslink Capital and Manresa Ventures, along with several other venture firms.
Toyota has thrown its financial weight behind EV charging network IONNA, a collaborative effort by an expanding alliance of automakers focused on enhancing electric vehicle infrastructure.
Zedify, the U.K.s cargo bike delivery pioneer, has secured £4 million ($5.1 million) in a funding round fueled by visionaries betting on sustainable urban deliveries.
Editorials and Insights
Advanced Driver-Assistance Systems (ADAS)
Business Insider shared an intriguing find about Tesla‘s dedication to improving its full self-driving (FSD) software with the help of human data annotators. These professionals prioritize data from CEO Elon Musk and a select group of VIP drivers.
Self-Driving Cars
Serve Robotics, now a public entity, is broadening its robot delivery services in Los Angeles, promising a 2,000 robot deployment by 2025. Meanwhile, a Waymo robotaxi’s mishap in Phoenix has reignited discussions about the practical challenges of autonomous travel.
EVs, Charging Networks, and Battery Tech
In the ever-evolving tale of Fisker Inc.’s bankruptcy, a potential purchase deal for its electric Ocean SUVs has emerged. Founders Henrik Fisker and Geeta Gupta-Fisker have dramatically cut their salaries to support the company’s financial restructuring. Plus, Lucid Motors hits a new quarterly delivery record, and Tesla gains approval for its Model Y for official use in China.
Aerospace Innovations
Joby Aviation sets its sights on hydrogen-powered intercity flights, while Universal Hydrogen, another pioneer in hydrogen flight, ceases operations, highlighting the volatile nature of aviation innovation.
In-car Technologies
Updates from Google Maps aim to enhance driving safety with new features for iOS and CarPlay users, emphasizing the growing importance of tech in transportation safety.
Spotlight on Transport Tech
“This week’s wheels” is your sneak peek into the transportation gadgets we’re currently testing, from innovative e-bikes and electric vehicles to firsthand experiences in autonomous commuting. Stay tuned for our thoughts on the Lectric One e-bike, the new Fiat 500e, the 2024 Nissan Ariya Empower+, and more fascinating transport solutions.
Compiled by Techarena.au.
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