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Hyundai taps EV startup Canoo to develop electric vehicles

TechCrunch LA

Hyundai Motor Group said it will jointly develop an electric vehicle platform with Los Angeles-based startup Canoo, the latest startup tapped by the automaker as part of an $87 billion push to invest in electrification and other future technologies. Hyundai Motor Group has committed to invest $87 billion over the next five years.

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What Does the Post Crash VC Market Look Like?

Both Sides of the Table

Should SaaS companies trade at a 24x Enterprise Value (EV) to Next Twelve Month (NTM) Revenue multiple as they did in November 2021? Even then private market investors can paper over valuation changes by investing at the same price but with more structure so it’s hard to understand the “headline valuation.” It’s just math.

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EcoFlow Hits $200M In Sales

socalTECH

Los Angeles-based EcoFlow, the developer of portable power stations, says it reached $200M in annual revenues in 2021, up 275% from the year before. The company is backed by Sequoia's China Fund, Hillhouse, and CICC, and received $100M in a Series B investment back in June of 2021.

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Starship Technologies picks up €50M from the EU’s investment arm to expand its fleet of autonomous delivery robots

TechCrunch LA

The startup has received €50 million (just under $57 million at today’s rates) from the European Investment Bank, the funding arm of the European Union. It is not disclosing its valuation with this investment, but Alastair Westgarth said that this doesn’t rule out raising further funding from investors.

Invest 233
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Nothing negative about Positive Food’s meal expansion plan after $7M investment

TechCrunch LA

He said the company has been growing in double-digits month over month, had zero churn and produced five times as much food this year versus the same time period in 2021. “We The voracious fight for your salad bowl.

Invest 175
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Acorns To Go Public Via SPAC

socalTECH

Irvine-based savings and investing app developer Acorns said today that it will be going public, via a special purpose acquisition company (SPAC) merger with Pioneer Merger Corp., The deal is expected to close in the second half of 2021. which trades on the NASDAQ as PACX. Acorns is led by CEO Noah Kerner.

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Rocket Lab Plans IPO Via SPAC

socalTECH

Long Beach-based rocket developer Rocket Lab is joining the very long list of local technology companies, which is heading towards the public market through a merger with a Special Purpose Acquisition Company (SPAC). Rocket Lab said it expects the deal to be complete by Q2 of 2021.