Porsche teamed up with venture studio UP.Labs, whose mission was to create six startups in three years, all of which could solve German automakers’ biggest problems and create independent businesses that could attract other customers. On the Porsche List: Software to help manage and automate the performance of EVs. Pool Systems, the first startup from the partnership, has developed a software product that the two companies say can solve it. Pool Systems, which announced at SXSW 2023, also announced that it has raised $5 million in a seed round led…
Day: March 17, 2023
Daily Crunch: With just $2.2B in remaining liquidity, SVB’s parent company files for bankruptcy.
To get TechCrunch’s biggest and most important stories delivered to your inbox every day at 3pm PDT; Register here. Happy Friday Crank! There is a persistent theory in hardware that overseas manufacturing is a cheaper/better/more efficient option. You work there, collect elsewhere, and finally get approved and come to America. came Writes on TC+. It turns out that it is possible to produce closer to home. With supply chains in the news more than ever, “nearby” is an often overlooked option for startups. On that note – we’ll be drinking…
Roar? Green Li-ion recycling technology will be filled with 20.5 million dollars
Green Li-Yon says its battery recycling machines are “the size of a small house,” so it’s no surprise the Singapore-based startup is looking to top up the cash. Before the latest round of funding, it had raised only about $15 million. This week, Green Li-Yon announced a $20.5 million “Pre-Series B” round led by climate-tech investor TIREC. Other investors have also stepped in, including startup SOSV and Equinor Ventures (the VC arm of the Norwegian-owned fossil fuel giant). The deal boosts Green Lee-Yeon’s post-money valuation to $187 million after three…
TechCrunch+ Summary: 7 VCs Are Taking, AI Best Practices, Zero-Based Budgets
It’s too early to tell if SVB’s collapse heralds a new era for venture capital, but based on anecdotal evidence, off-the-record conversations, and discussions with colleagues, it appears we’re back to business as usual. – Concerns about raising revenue startup funds. It’s not a scientific sample, but I’ve noticed a number of investors on Twitter this week indicating that they’re interested in talking to founders at the idea stage. I avoid sharing hot stuff, but here’s one: Because of contagion, I feel good about the VC community writing small checks…
Will software for CFOs create a bright spot in a battered fintech market?
It came from The 2021 boom in venture capital has shaken up much of the startup world, but the lack of capital has been glaringly obvious in one particular area: fintech. According to CB Insights, After peaking in 2021, funding for fintech startups worldwide fell 46% to $75.2 billion from $139.8 billion a year ago. In the year The data on early 2023 is still coming in, but we’ve heard from everyone that venture funding for fintech will start again. Yes, the Strip’s $6.5 billion increase may skew the highs…
You don’t have to be stupid to deal with bots
Once upon a time. A virtual assistant named Ms. Divya, played by Janina Gavankar, a beautiful librarian who helps you with your questions in Microsoft’s first attempt at a search engine. Ms. Dewey debuted in 2006 and completed over 600 lines of recorded spoken word. She preceded her in a few ways, but one particularly overlooked example was captured by data scientist Miriam Sweeney in her 2013 doctoral dissertation, detailing the gendered and racial implications of Divvy responses. That includes lines like, “Hey, if you get into your computer, you…
Banking is not the only point of failure that entrepreneurs should reconsider
Silicon Valley Bank is a good reminder that startups, often entrenched in a world of risk and adversity, sometimes forget to think about the obvious—single points of failure. But just as it makes sense to trust a community-friendly bank, so does trusting someone to lead your business to success. Now that we’ve seen that the former didn’t quite work, maybe it’s time to rethink the latter. TechCrunch+ caught up with several early-stage founders who are building Series A or smaller companies to think about succession. The consensus is that the…
Choose your best business loan
Are you a small business owner looking for a loan? You have many options. Today, the market is booming with loan products designed to meet the needs of small business owners, so whether you’re looking to buy a new property and renovate, or just need some cash to revive your business until your bills are paid. As the busy season begins, you can find a loan that works for you. There are three main types of business loans: Small Business Administration (SBA) loans, traditional bank loans, and alternative loans. SBA…
Don’t use Sam Altman and AI hype in the same sentence
Hello, and welcome back to Equity, the startup business podcast, where we unpack the numbers and nuances behind the headlines. Today, we’re celebrating Equity’s 6th birthday! Thankfully, it fell through the lightest and slowest news cycle we’ve experienced since the grocery delivery wars and the start of WeWork. just kidding. Alex And Natasha took the microphone to talk about it: An M&A spree that includes updates from Qualtrics, Cvent and Mint Mobile. Although we’d prefer to see more startup deals and IPOs, we’d be happy to see some M&A. GPT-4.…
Unearthly Materials said it had big-name investors, but not all were on board
He says the startup is on the cusp of superconductor discovery, despite a questionable scientific record. Since them The superconductors that were discovered 100 years ago seemed a little magical. You may have seen one on YouTube of the seventh supercooled element sliding across a pool of liquid nitrogen as it boils. Or maybe you’ve been inside a very large one, cooled by liquid helium, which allows doctors to look inside your body as part of an MRI, with powerful magnetic and radio waves. Despite their extremely low temperature, superconductors…