Yassir, an African super app platform that offers on-demand services such as ride-hailing, food and grocery delivery, and payments, has raised $150 million in Series B funding, five times what it raised in its previous priced round last November. The investment was led by BOND, the growth-stage firm that Mary Meeker spun out of Kleiner […]
Ouster and Velodyne, two lidar companies, have agreed to a merger in an all-stock transaction, the companies said Monday. Both Ouster and Velodyne will maintain a 50% stake in the new company, according to the agreement that was signed on November 4. The merger comes as many in the industry, including autonomous vehicle technology company […]
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Uber has applied to withdraw a petition in Kenya challenging the new ride-hailing regulations that capped commissions at 18%, and required taxi apps operating to acquire licenses. Coulson Harney, the law firm representing Uber, filed the notice of withdrawal bringing to an end its push to have the new digital ride-hailing regulations annulled. “Take notice […]
Toto Wolff, the 50-year-old Austrian chief executive, team principal and part-owner of the Mercedes Formula 1 team who was recently described by the New Yorker as someone who might breeze “past you in the airport, smelling good, wearing loafers and no socks,” talked openly yesterday about his team’s terrible, no-good year. Sitting with Oliver Steil, […]
Saudi Arabia’s sovereign wealth fund has formed a joint venture with Foxconn to build and sell EVs, the latest move by the nation to meet its Vision 2030 goal of reducing its dependence on oil and diversifying its economy. The new company, called Ceer, will design, manufacture and sell a portfolio of EVs using BMW’s […]
Commercial electric vehicle company Arrival has gotten a warning from the Nasdaq Stock Market because its stock price is trading too low. The company issued a press release Thursday saying it received a notification at the start of the week that it was not in compliance with the Nasdaq’s requirement to trade ordinary shares above […]
Lyft said Thursday it is laying off 13% of its workforce as it tries to reduce operating expenses, according to a securities filing. The ride-hailing company described the cuts as proactive step to ensure it “is set up to accelerate execution and deliver strong business results in Q4 of 2022 and in 2023.” Lyft also […]
A smart card bug lets anyone ride the metro for free India’s mass rapid transit systems — or metro, as it’s known locally — rely on commuter smart cards that are vulnerable to exploitation and allow anyone to effectively travel for free. Security researcher Nikhil Kumar Singh discovered a bug impacting Delhi Metro’s smart card […]
Autonomous vehicle technology company Aurora Innovation released its third-quarter earnings report after the bell Wednesday. The company closed out the quarter with about $1.2 billion in cash and short-term investments, which Aurora says will be enough to make it to commercial launch in mid-2024. Those statements were made just days after former competitor Argo AI […]
