Apple, ex-Tesla, engineer Michael Schwekutsch jumps to Archer aviation

Attendees watch as aircraft maker Archer is unveiled on June 10, 2021 in Hawthorne, California. Patrick T. Fallon | AFP | Getty Images Michael Schweikoch, director of engineering at the Apple Special Projects Group that is said to be working on self-driving cars, has left to join air taxi startup Archer as senior vice president … Read more

HashiCorp aiming for IPO valuation of up to $13 billion in updated S-1

HashiCorp employees at the HashiConf Startup Conference in San Francisco in October 2018. HashiCorp Cloud software supplier HashiCorp updated its initial public offering prospectus on Monday, revealing plans to sell shares at a price that would value the company as high as $13 billion. HashiCorp, which was last privately valued at $5.1 billion in 2020, … Read more

Thought Machine hits $1 billion valuation in JPMorgan-backed funding

JPMorgan Chase & Co signs are lit at night at a bank branch in Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images LONDON – British fintech startup Thought Machine has raised $200 million in a new round of funding that pushes its valuation above the $1 billion mark. The cash injection has been led … Read more

10-minute grocery start-up Getir to buy UK rival Weezy

A Turkish delivery service “Getir” delivery driver rides his bike. Michael Cappeler | Image Alliance | Getty Images LONDON – Turkish startup Getir agreed on Tuesday to acquire British rival Weezy, in the latest sign of consolidation in the ultra-fast grocery delivery market. Istanbul-based Getir, which aims to ship essential items to people’s doors in … Read more

GM takes a stake in electric boating start-up Pure Watercraft

General Motors, which billed itself as an “electrician” this year, has taken a 25% stake in Pure Watercraft, a Seattle startup that makes electric outboard motors for boats, the two companies told CNBC. Pure Watercraft engines use lithium-ion batteries and replace 40 to 50 hp outboard motors that burn gas or diesel. Conventional fuel-powered boats … Read more

Crypto startup MoonPay hits $3.4 billion valuation in new funding round

MoonPay CEO and co-founder Evan Soto-Wright speaks at the Bitcoin 2021 conference in Miami, Florida. Eva Marie Ozkategi | Bloomberg | Getty Images Cryptocurrency startups have raised record funding this year. It’s no surprise, then, that some of the major players in the space — from crypto exchange twin Winklevoss Gemini to Ethereum co-founder ConsenSys … Read more

India’s billion-dollar Mensa Brands is already profitable, says founder

The founder of the Indian company, Mensa Brands, said that Mensa Brands has jumped into unicorn status with billions of dollars in just six months and, in an even rarer feat, has already become profitable. The direct-to-consumer brand pool this week became the fastest company in India’s history to hit the mark after closing its … Read more

Text-checking software maker Grammarly is worth $13 billion

Grammarly CEO Brad Hoover. grammar Grammarly, a startup whose program highlights issues people write in its web app and other software, said Wednesday it has a $13 billion valuation after it secured $200 million in new funding from Baillie Gifford, General Catalyst, funds and accounts Managed by BlackRock and other investors. The support shows that … Read more

Upgrade jumps 83% in valuation to $6.28 billion after just four months

Promotion CEO Renault LaBlanche speaks at a conference in Brooklyn, New York, in 2018. Alex Flynn | Bloomberg via Getty Images CNBC has learned that Upgrade, a fintech startup that turns credit card balances into installment loans, has closed a fundraising round valued at $6.28 billion. The company raised $280 million in its F Series … Read more