Welcome back to TechCrunch Mobility — your go-to destination for the latest developments and insights into the future of transport. Subscribe for free — simply select TechCrunch Mobility!
Last week, we delved into an explainer about Tesla‘s Dojo. This time, we’re providing you with a detailed Dojo timeline to illustrate Tesla’s AI supercomputer advancements. Although not comprehensive, this timeline highlights key moments without inundating readers with every statement from Elon Musk. Stay tuned as we continue to update this timeline with the latest developments.
What can you expect from this week’s issue? You’ll find news of two IPOs, a breakthrough from Waymo, several intriguing deals, updates on air taxis, and TechCrunch reporter Rebecca Bellan’s firsthand account of Revel, among others. Let’s dive in!
A Little Insight
Got a scoop? Reach out to Kirsten Korosec at kirsten.korosec@techcrunch.com, Sean O’Kane at sean.okane@techcrunch.com, or Rebecca Bellan at rebecca.bellan@techcrunch.com. Discover how to get in touch with us securely via encrypted messaging apps or SecureDrop by checking out these guidelines.
The Deal Scene
This week, explore a special feature by senior reporter Sean O’Kane on how an audacious Italian entrepreneur, Michele Lombardi, guided CNH Industrial towards a thriving connection with startup ventures.
Five years back, CNH faced the threat of being left behind in the rapidly growing agtech startup ecosystem.
“They were at a standstill, unable to forge successful deals,” Lombardi shared with TechCrunch. “Initially, our network and reach were incredibly limited.”
The result? Twelve strategic deals over five years, split evenly between acquisitions and investments, covering a wide technological spectrum from farm management software and AI-driven drone imagery to satellite navigation and tractor companies. Read the full story here.
Top Deals to Watch …
Alaska Airlines unveiled an investment in JetZero, a California startup pioneering a blended-wing body aircraft with reduced emissions and fuel usage. The investment details were not disclosed but were part of a Series A closing in late 2023, revealing that JetZero secured $26.4 million in funding.
Autofleet, an Israeli startup known for its fleet optimization software, was acquired by Canada’s Element Fleet Management for a whopping $110 million.
Clearly, a climate intelligence platform catered to transport fleet operators, raised $4.3 million in a seed round championed by Pace Ventures and Nine Realms, with continued support from existing mobility investors and notable angels.
Kazam, an innovator in the Indian EV charging sector, successfully raised $8 million in Series A3 funding led by Vertex Ventures Southeast Asia and India. The startup has now accumulated $13 million in funding.
Ola Electric, the top electric two-wheeler manufacturer in India, made headlines with a booming IPO debut, witnessing a 20% stock increase on the first day. However, Ola Electric faced challenges soon after, reporting a larger quarterly loss, partly due to subsidy reductions and rising depreciation charges.
Scott Painter, known for his role in TrueCar, Fair, and Autonomy, is launching a new venture, Autonomy Data Services or ADS, signaling another ambitious step into the automotive industry.
WeRide, aiming for an IPO, is expected to reach a valuation of up to $5.02 billion. Alongside their IPO plans, select investors have committed to a $320.5 million investment in a private placement, highlighting significant confidence in WeRide’s vision for autonomous mobility.
Highlights and Must-Reads
Autonomous Ventures
Let’s revisit WeRide, as it not only moves closer to an IPO but also escalates its driverless testing efforts in the U.S., having attained permission to test its autonomous cars with passengers in California. However, WeRide cannot yet charge for these rides, nor is the service available to the general populace.
Waymo is set to begin its no-human safety driver, fully autonomous vehicle freeway tests in the San Francisco Bay Area.
A curious episode involving Waymo obtained our attention — a nightly ‘honk-a-thon’ captured via a livestream, revealing Waymo robotaxis flocking to a parking lot and participating in a honking ritual. Waymo has since addressed the issue, programming its robotaxis not to honk upon entering official depot lots.
EV Innovations and Challenges
Polestar has commenced production of the Polestar 3 at Volvo’s U.S. facility in South Carolina, a strategic move to circumvent tariffs on Chinese-manufactured vehicles.
Tesla appears set to launch its 1950s-themed diner in West Hollywood. Concurrently, Tesla CEO Elon Musk faces scrutiny from the United Auto Workers union, following allegations of attempting to ‘threaten and intimidate workers’ during a recent discussion with Donald Trump on social media.
The Airborne Future
Archer Aviation has revealed its vertiport locations, aiming to initiate an air taxi network in Los Angeles that could dramatically reduce traditional car travel times. Startin
Compiled by Techarena.au.
Fanpage: TechArena.au
Watch more about AI – Artificial Intelligence
