Top News | Ample’s $25M boost for EV battery swapping: San Francisco-based Ample is ramping up its electric vehicle battery swapping efforts with $25M in new funding from Mitsubishi Corporation. After successful pilots in San Francisco, Madrid, and Japan, the startup aims to turn these trials into commercial contracts by 2025, focusing on Europe and Japan. Mitsubishi’s backing brings fleet connections and renewable energy access, helping Ample grow from a few dozen swapping stations and vehicles to hundreds of stations and thousands of EVs over the next year. Oura hits $5B valuation: Smart ring maker Oura has raised $75M in Series D funding from glucose monitoring giant Dexcom, boosting its valuation to over $5B. The partnership will integrate Dexcom's glucose data with Oura's health metrics, enabling users to track the impact of nutrition on their health, with the first app integration set for 2025. Oura, which has sold 2.5M rings and expects $500M in sales next year, is now competing with Apple's efforts in noninvasive glucose tracking. Nuro expands driverless testing: Nuro is expanding testing of its fully driverless R3 vehicles across the Bay Area and Houston, showcasing its AV technology for potential customers. With a shift from owning delivery bots to licensing its autonomous tech, Nuro aims to attract automakers and mobility providers, testing complex driving scenarios at speeds up to 35 mph — without safety drivers.
| TWiST500 | Databricks, a TWiST500 company and semi-recent guest on the podcast, is reportedly in talks to raise between $7 to $9 billion, according to The Information. This move is aimed at providing employees with liquidity by cashing out restricted stock units and covering related taxes. | During the podcast, Alex and Naveen Rao (Vice President of Artificial Intelligence at Databricks) discussed the company's growth trajectory, touching on the ongoing battle between open-source innovation and enterprise AI strategy, as well as the possibility of an IPO. Naveen mentioned that revenue is growing 60% year-over-year, while Alex teased the idea of going public, saying, "I know the answer is 'eventually, but not yet,' blah blah... but if you guys don’t IPO by H1 2025, I think I’m going to submit my tears in a vial. Just so you know, that’s coming next summer if you don’t pull the trigger." | An IPO still could happen soon, but it seems like Alex might need to start filling that vial in the meantime. — Maddie | | A message from Vanta | Compliance and security shouldn't be a deal-breaker for startups to win new business. Vanta makes it easy for companies to get a SOC 2 report fast. TWiST listeners can get $1,000 off for a limited time at https://www.vanta.com/twist | This Week in Startups | E2047: Spenser Skates and James Evans join Alex to discuss Amplitude's acquisition of Command AI, shedding light on recent startup M&A trends and the strategic vision behind this move. The conversation delves into Command AI's user assistance technology and its integration into Amplitude, which aims to enhance user surveys and feedback. They also cover the acquisition deal structure, regulatory concerns, and the decision-making process between raising funds and selling. | E2046: Jason and Alex dive into the evolving landscape of streaming, covering Netflix's live event hiccups, sports streaming rights, and advertising vs. subscription models. They explore tech's intersection with regulation, including TikTok's challenges and Brendan Carr's FCC chairmanship. Wrapping up, they touch on Emil Michael's potential cabinet position and strategies for balancing the federal budget and reducing national debt. | E2045: Altimeter’s Jamin Ball joins Alex to discuss the alignment of incentives between VCs and founders, the impact of venture capital allocation demand, and the power laws shaping startup outcomes. They explore disparities between public and private market valuations, the future of liquidity and exits, and the influence of AI on startup growth. The discussion wraps with Jamin’s outlook on promising startups and upcoming IPOs. | TWiST Partner Offers | Squarespace: Turn your idea into a new website! Go to https://www.Squarespace.com/TWIST for a free trial. When you’re ready to launch, use offer code TWIST to save 10% off your first purchase of a website or domain. Gusto: Gusto is easy online payroll, benefits, and HR built for modern small businesses. Get three months free when you run your first payroll at https://www.gusto.com/twist. DevSquad: Most dev agencies only offer developers. Why? Because product management is hard. Get an entire product team for the cost of one US developer plus 10% off at http://devsquad.com/twist.
| LAUNCH Cloud Kitchens Incubator | Applications are open for Cohort 2 of the LAUNCH CloudKitchens Incubator (LiCK). We're looking for food entrepreneurs who wish to expand into the ghost kitchen space or tech founders with a team and a great idea. The application and more information can be found at https://ck.launch.co/. | | The TWiST500 newsletter is the new, updated, and improved TWiST Ticker. |
|
