India’s central bank has halted its plans for a high-profile project intended to rival the nation’s dominant payment system, Unified Payments Interface. The project had attracted significant interest from a variety of major conglomerates, tech giants, and financial institutions, including Amazon, Reliance, Facebook, Tata Group, Google, HDFC, and ICICI. The Reserve Bank of India had…
Tesla has nominated JB Straubel, the company’s former CTO who is now running his own startup Redwood Materials, as its next independent board member. The company said in a regulatory filing Thursday that Straubel, if elected by shareholders (which is almost a certainty) would take over the spot vacated by Hiromichi Mizuno, the former chief…
Over 20,000 applications flew into Y Combinator, which ended up plucking out 282 startups for its latest batch. And now we’re getting our first look at them through Demo Day. The first day’s demos included a healthy dose of artificial intelligence and open source, which is different from years past that were dominated by new…
Yfood, one of the direct-to-consumer food tech startups that has emerged over the last decade around the concept of meal replacement drinks, is bulking up. Nestle, the food and drink behemoth, has acquired 49.95% of the company’s shares, with the option to buy Yfood’s outstanding shares over the next few years. The financial terms of…
It’s more than a feeling. According to new data coming out from the research firm Pitchbook and the National Venture Capital Association, venture firms are raising — and deploying — a lot less money than in recent years. What to know: overall deal count in the U.S. has fallen more than 25% between the first quarter…
Tesla’s 2,500-acre manufacturing hub in Austin, Texas tripled its workforce last year, according to the company’s annual compliance report filed with county officials. Bloomberg first reported on the news. The report filed with Travis County’s Economic Development Program shows that Tesla increased its Austin workforce from just 3,523 contingent and permanent employees in 2021 to…
Savvy Games Group, a games and esports company that is part of the Saudi government’s Public Investment Fund, has agreed to acquire mobile games studio Scopely for $4.9 billion. Founded in 2011, Scopely is known for several popular mobile games including Yahtzee With Buddies, Star Trek Fleet Command, Marvel Strike Force, Stumble Guys and Scrabble…
Mozart Data came out of the Summer 2020 Y Combinator cohort with an idea to provide a data stack in a box for companies. Since then, it has raised $19 million and attracted 100 customers, but the founders recognize that to attract new users to the platform, especially in today’s economic environment, might take some…
A year after Kia unveiled its roadmap to sustainable mobility by 2030, the Hyundai-owned brand has upped the ante. At the company’s 2023 CEO Investor Day Wednesday, Kia’s leadership said the company aims to reach KRW 160 trillion ($122 billion) in gross revenue by 2030. The financial goal is part of a general update of…
Stoke Space, a company that’s developing a fully reusable rocket, has unveiled a new tool to let hardware companies track the design, testing and integration of parts. The new tool, Fusion, is targeting an unsexy but essential aspect of the hardware workflow. It’s a solution born out of “ubiquitous pain in the industry,” Stoke CEO…
