The federal government is handing out another $ 3 billion to startups in the buzzy battery tech sector. The investment, which the Biden administration announced Friday, is the latest injection of capital to come from a $ 16 billion pot that the Department of Energy set aside to build out local battery manufacturing, processing, and […]
European VC Atomico closes $1.24B across two funds for early and growth-stage startups
As European startups continue to look for signs of sustained market confidence beyond the hype around AI companies, Atomico — one of the region’s more iconic, largest venture capital firms — has raised more money to make investments that might indicate how the market is really moving. The VC has closed new funds totalling $ […]
Customers of Indian crypto exchange WazirX unlikely to recover full funds
Customers of WazirX, the Indian cryptocurrency exchange that suffered a $ 234 million hack in July, are unlikely to recover their funds in full through the ongoing restructuring process, a company legal adviser said on Monday. George Gwee, a director at restructuring firm Kroll working with WazirX, said that at least 43% of the money […]
Fluid Truck’s board ousted its sibling co-founders amid allegations of mismanaging funds
Fluid Truck, a startup that was founded to disrupt the commercial vehicle rental industry, has ousted its sibling co-founders – CEO James Eberhard and chief legal counsel Jenifer Snyder – according to sources familiar with the matter. The shakeup, which employees have described as a hostile takeover, was led by two minority investors on the […]
CoinSwitch sues WazirX to recover trapped funds
CoinSwitch, a prominent Indian cryptocurrency exchange, is suing rival platform WazirX to recover trapped funds, revealing the scope of the damage wrought by a cyber attack at WazirX that resulted in $ 230 million worth of digital assets being stolen. The move comes more than a month after WazirX, one of India’s largest crypto exchanges, […]