Sequoia Capital Archives - Maritime Shipping News

Instacart files for IPO, but should it?

12 May 2022

Woman wearing Instacart shirt reaches for vegetables in a grocery store aisle.

Instacart said late Wednesday night that it had filed a Form S-1 with the Securities and Exchange Commission for a possible initial public offering.

According to Bloomberg, the delivery firm is working with Goldman Sachs and J.P. Morgan on the possible offering, which Instacart said is not a definitive choice as of yet.

An IPO was rumored last year, although there was some speculation that Instacart would forgo the traditional IPO route and go the direct listing route instead. In a direct...

https://www.freightwaves.com/news/grocery-delivery-firm-instacart-files-for-ipo

Skipping around: Tula Technology builds reputation 1 cylinder at a time

26 January 2022

SAN JOSE, Calif. — Nestled among flat-roofed Silicon Valley startups in an unassuming tree-lined neighborhood, Tula Technology is perfecting its Dynamic Skip Fire engine controls for diesel and electric truck powertrains that could clear expected 2027 regulatory emissions hurdles — and save a lot of fuel in the process.

The private company doesn’t care if you’ve never heard of it as long as automotive and commercial vehicle manufacturers have. Through regular appearances at industry confabs,...

https://www.freightwaves.com/news/skipping-around-tula-technology-builds-reputation-1-cylinder-at-a-time

They’re 26, once built robots — and are about to be very rich

8 November 2021

SAN FRANCISCO — Alex Rodrigues built his first working robot in seventh grade when he was 11 years old. He co-founded self-driving trucking software company Embark Trucks at age 20. This week, at the ripe old age of 26, he and business partner Brandon Moak will become very, very rich if Embark begins public trading as anticipated.

With an infectious laugh that can be heard throughout much of Embark’s headquarters, a renovated 85-year-old industrial building on Townsend Street downtown,...

https://www.freightwaves.com/news/theyre-26-once-built-robots-and-are-about-to-be-very-rich

Embark Trucks hauling HP printers as it grows autonomous partner network

15 May 2021

HP Inc. (NYSE: HPQ) will begin shipping computer printers from Los Angeles to Phoenix on supervised autonomous semis from Embark Trucks. HP is the newest addition to a network of Embark is growing to better understand shipper needs.

In the beginning, HP will move just one truck a week, “with additional opportunities to expand as additional lanes and opportunities are identified,” Jessica Kipp, HP’s global head of logistics, told FreightWaves. “We look forward to working with our logistics...

https://s29755.pcdn.co/news/embark-trucks-hauling-hp-printers-as-it-grows-autonomous-partner-network

Embark develops plug-and-play autonomous trucking system

31 March 2021

Self-driving truck startup Embark Trucks Inc. has developed a plug-and-play autonomous trucking software package. It will work on Freightliner, Volvo, Peterbilt and International trucks.

The development could make Level 4 technology a commodity even before competitors begin regular production.

“If Embark can create a system that can be installed on a variety of different trucks without massive rework and embedded development, that obviously creates an opportunity to accelerate deployment of...

https://www.freightwaves.com/news/embark-develops-plug-and-play-autonomous-trucking-system

Via acquires mapping software company Remix for $100M

12 March 2021

Via Transportation Inc., a provider of on-demand shuttle operator software, acquired Remix, a road planning software company, on Wednesday for $100 million.

This is Via’s second acquisition, after buying fleet management software provider Fleetonomy for an undisclosed amount in September.

Via was valued at $2.25 billion last year after a $200 million Series E round led by EXOR (BIT:EXO). Other active investors include RiverPark Ventures, 83North, Hearst Ventures and Pitango Venture Capital.

Remix...

https://s29755.pcdn.co/news/via-acquires-mapping-software-company-remix-for-100m

Chinese investors join $200M funding round for autonomous startup Plus

10 February 2021

Self-driving truck technology developer Plus has completed its Series B funding round, pulling in $200 million from returning backers and new investors from China. In total, Plus has raised nearly $400 million.

The new investors include Hong Kong-listed Guotai Junan International, China’s leading securities firm, and Wanxiang, a top Chinese automotive components supplier. SAIC, China’s largest carmaker; and Full Truck Alliance, the world’s largest trucking platform serving more than 10 million...

https://www.freightwaves.com/news/led-by-chinese-investors-self-driving-truck-startup-plus-raises-200m