With medieval origins and a quaint, colorful port, the low-rise Norwegian city of Trondheim doesn’t look very futuristic. But the former Viking capital is making waves with a pioneering transport initiative: a zero-emissions, self-driving electric ferry.
The small, autonomous ferry, which launches next year, works “like an elevator” says Erik Dyrkoren, CEO of Zeabuz, the company building and operating the boat.
Passengers on each side of the canal that separates the port and city center can press a button to call the boat to their side. The boat charges while it waits at the dock, fits up to 12 passengers as well as bicycles, and takes less than 60 seconds to make the crossing — saving pedestrians a 15-minute walk.
The ferry was developed in 2018 by researchers at the Norwegian University of Science and Technology (NTNU) as an alternative to a proposed bridge across Trondheim’s harbor
Mobile streaming startup Quibi raised over $1.75 billion before even releasing a product. Now, the startup has shuttered after only six months after its product launch — and says it has only $350 million to pay back to investors.
Business Insider took a close look at the investors who backed the company, which was co-founded by Jeffery Katzenberg and Meg Whitman and tried to revolutionize TV for smartphones.
Quibi’s biggest early investor was Madrone Capital Partners, the family office of the Waltons, the family dynasty that built Walmart. Take a look at who else made the list and who stands to lose the most.
Visit Business Insider’s homepage for more stories.
Before launching any product, mobile streaming startup Quibi was the talk of the town, raising over $1.75 billion from backers ranging from Fox to Alibaba.
Now, the six-month-old startup has gone kaput, and says it has only $350 million
Founded by Chennai-born entrepreneur Jay Vijayan, Tekion has raised USD 150 million in Series C funding round at a valuation of over USD 1 billion
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Founded by former Tesla CIO Jay Vijayan, Tekion has raised USD 150 million in Series C funding round at a valuation of over USD 1 billion to become one of the youngest unicorns.
The funding round was led by global private equity firm Advent, along with participation from Index Ventures, Exor, the holding company of Fiat Chrysler Automobiles and Ferrari, Airbus Ventures and FM Capital.
Founded in 2016, Tekion is a cloud technology company focused on the automotive industry. The company claims to bring consumer, dealer and OEM (original equipment manufacturer) together on its cloud-native
Anyone who has been to a car dealership knows that buying a car can be a lengthy and often frustrating experience. One of the main reasons it’s so painful is that sales staff often have to wade through a smorgasbord of different software applications for things such as processing loans and recording ownership changes, many of which don’t work smoothly together.
During a four-year stint as CIO of Tesla, Jay Vijayan helped create the company’s own software platform for sales to deliver a seamless experience for its customers. After leaving, he founded Tekion in 2016 to build a cloud-based product that many different dealerships can use to do the same thing. Although Vijayan’s entrepreneurial journey hasn’t always been smooth, he’s won over investors to his vision: On October 21 Tekion announced a $150 million Series C round, bringing the total it has
You have a great business idea that you’re ready to turn into a real business. However, you don’t have the technical skills to build the first version of your product, you don’t have the design skills to create a brand, nor do you have the marketing skills to bring it to consumers.
Moreover, you only have your personal saving to get your idea off the ground with no other outside funding from friends or family. Bringing on an experienced CTO or CMO to give you key talent is out of the question.
With all these constraints, how do you start to build your business?
Fortunately, today, you can partner with a number of organizations that have specializations across business areas. Outsourcing, especially at an early stage, can be critical to getting the right expertise you need. It can also save you important time and money, all of which can
Possible Finance was growing fast and ready to raise more venture capital. Then COVID-19 hit.
“It immediately made fundraising much more difficult than anticipated,” said Tony Huang, CEO and co-founder of the 3-year-old startup that runs a high-tech small loan service.
But the company ended up connecting — over Zoom calls, no less — with New York-based Union Square Ventures, which eventually led a $11 million round for Possible. It was the first deal the well-known firm completed over video conferencing.
Possible announced the new funding Tuesday, along with $80 million in debt financing from Park Cities Advisors to help supercharge its business.
Founded in 2017, Possible offers loans of up to $500 and is similar to payday lenders, but with some differences. Borrowers have more time to pay back the money in installments
While working for aerospace firm Northrup Grumman back in 2007, Sean McDaniel and Brad Bode were tasked with improving communication between satellites in the sky and towers on the ground. They soon realized this could be a scalable business opportunity.
Today, the two are co-founders of Atlas Space Operations, a company that provides ground-based satellite communication. The startup, which finished No. 102 on this year’s Inc. 5000 list with a three-year revenue growth rate of 3,446 percent, has revolutionized the way this communication takes place in part by applying software to tasks that used to be manual. Its clients range from private space companies to the U.S. government. The company signed a $1.5 million contract with the Department of Defense earlier this year, which, once finalized, will make it the first ground-based satellite communications company to be authorized for use by the DoD.