Category: Startups

AutomationStartups

Former Luminar CEO Austin Russell Makes Surprise Bid to Acquire Lidar Company He Founded

Billionaire founder Austin Russell has launched a bid to acquire Luminar Technologies five months after being replaced as CEO. The proposed acquisition would involve his new company, Russell AI Labs, purchasing all outstanding shares of the lidar maker according to regulatory filings.

Surprise Acquisition Bid Follows CEO Ouster

Austin Russell, the billionaire founder of lidar company Luminar Technologies, has reportedly made a bid to acquire the company just five months after being replaced as CEO following an ethics inquiry, according to recent SEC filings. The proposed takeover would involve his new venture, Russell AI Labs, purchasing 100% of Luminar’s outstanding Class A Common Stock at an undisclosed price.

by Darren Holt
StartupsTechnology

Western Development Commission’s €100M Investment Fuels Deep Tech Growth in Ireland’s West

The Western Development Commission has reached €100 million in investments through its Western Investment Fund, focusing on deep tech as its strategic priority. Reports indicate the fund has leveraged over €500 million in additional capital while creating approximately 5,000 jobs across the region.

Regional Development Fund Hits Major Investment Milestone

The Western Development Commission (WDC) has reportedly reached a significant financial milestone, with its Western Investment Fund now totaling €100 million in deployed capital across western Ireland. According to sources within the organization, this evergreen fund has become a crucial financial vehicle for regional development, particularly for startup companies and small and medium-sized enterprises in the technology sector.

by Darren Holt
BusinessStartups

Hoffman Urges Founders to Vet Investors Through Critical References

Venture capitalist Reid Hoffman recommends founders thoroughly investigate potential investors by seeking critical feedback. The LinkedIn cofounder reportedly applied this reference-checking method when investing in OpenAI following Elon Musk’s departure.

Investor Due Diligence Goes Both Ways

Prominent venture capitalist and Reid Hoffman is encouraging founders to conduct thorough background checks on him before accepting his investments, according to recent reports. The LinkedIn cofounder reportedly insists that entrepreneurs seek out negative references to understand both his strengths and weaknesses as an investor partner.

by Natalie Brooks
BusinessStartups

Chobani Seeks $650 Million Funding at $20 Billion Valuation Amid Expansion Push

Yogurt giant Chobani is reportedly raising $650 million in new funding that would value the company at approximately $20 billion. Founder Hamdi Ulukaya’s stake in the company has reportedly increased his net worth to $13.5 billion according to Forbes estimates.

Chobani’s Major Funding Round and Valuation Surge

Yogurt market leader Chobani is reportedly raising $650 million in new funding that would value the privately-held company at approximately $20 billion, according to recent financial reports. The capital raise comes as the company continues to expand beyond its core yogurt business into adjacent food and beverage categories through strategic acquisitions.

by Darren Holt