Latest news with #lastmile
TechCrunch
5 hours ago
- Business
- TechCrunch
Sam Altman-backed Coco Robotics raises $80M
In Brief Los Angeles-based Coco Robotics, a startup building last-mile delivery robots, announced it raised $80 million on Wednesday. The funding round included angel investors Sam Altman and Max Altman, both returning investors, in addition to VC firms like Pelion Venture Partners and Offline Ventures, among others. This brings the company's total funding to more than $120 million. The company last raised a $36 million Series A round in 2021. Coco's zero-emissions robots can hold 90 liters worth of groceries or goods and have made more than 500,000 deliveries since they hit the streets in 2020, the company said. It says it works with national retailers including Subway, Wingstop and Jack in the Box. Sam Altman's financial interest in Coco is clear. While he's personally providing capital to the company, OpenAI apparently gets a benefit too. Coco announced a partnership with OpenAI in March which allows Coco to use OpenAI while the AI company gains the real-world data the robots collect to train its models. The company was founded in 2020 by Brad Squicciarini and Zach Rash. TechCrunch reached out to Coco for more information.
Entrepreneur
28-05-2025
- Business
- Entrepreneur
Chargeup Joins Forces with Mega Corporation and Shivakari Finance to Unlock INR 50 Cr in EV Financing
The collaboration aims to unlock a credit line of INR 50 crore and deploy 4,000 commercial EVs over the next year, primarily benefitting underserved last-mile drivers. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. In a move to catalyse electric vehicle (EV) adoption at scale, Chargeup has announced strategic partnerships with Mega Corporation Limited and Shivakari Finance. The collaboration aims to unlock a credit line of INR 50 crore and deploy 4,000 commercial EVs over the next year, primarily benefitting underserved last-mile drivers. Chargeup, a platform focused on EV financing and asset management for low-income drivers, is leveraging its data-driven model to reduce credit risk and enable faster loan disbursements. This initiative marks a major shift in India's EV lending landscape, which has historically struggled with issues like high non-performing assets (NPAs), low credit penetration, and operational inefficiencies. "EV financing in India has historically posed high risk for lenders, especially NBFCs, due to a combination of factors: an unstructured resale market, uncertain battery performance, and borrowers with low or no credit history," said Varun Goenka, Founder and CEO of Chargeup. "These risks often result in higher NPAs and limited loan approvals—ultimately hampering EV adoption at the grassroots level." Joydeep Dutta, Vice President and Business Head at Mega Corporation, stated, "As an NBFC, EV financing was not a part of our portfolio. With Chargeup's platform play, we got an instant go-to-market opportunity into the EV domain—giving us the tech, trust and speed to scale fast in an untapped market." Nandita Monga, Vice President at Shivakari Finance, noted, "After partnering with Chargeup, we have transitioned from financing e-rickshaws to i-rickshaws. With their tech-first approach, from digital underwriting to real-time tracking, they have simplified our operations, made the asset more secure and significantly reduced the NPAs." To date, Chargeup has enabled EV ownership for over 8,000 drivers, disbursed over INR 8.64 crore through previous partnerships, and improved daily driver earnings. This new initiative is set to strengthen India's green mobility push and build a safer, more inclusive EV financing ecosystem.
Yahoo
26-05-2025
- Business
- Yahoo
PUDO Announces New Member on the Board of Directors
TORONTO, May 26, 2025 /CNW/ - PUDO Inc. ("PUDO" or the "Company") (CSE: PDO) (OTCQB: PDPTF), is pleased to announce the appointment of its Chief Executive Officer, Elliott Etheredge, to the Company's Board of Directors, effective immediately. PUDO's Chairman, Richard Cooper, stated, "I as well as the entire Board are excited to announce that Elliott Etheredge has agreed to join the Board of Directors at PUDO Inc. With Elliott joining the Board, PUDO gains a wealth of experience and insight. His strong background in logistics and a passion for innovation and strategic growth is a huge asset. His current experience in this field, coupled with his leadership and expertise, will be invaluable as PUDO continues to expand its reach and impact in the logistics, returns, and last-mile delivery space. This addition will also greatly enhance our ability to accelerate the tremendous growth the Company has seen in the past year. We are excited for the journey ahead and confident in the leadership and valuable fresh perspective his contributions will bring to the Board. Please join us in giving Elliott a warm welcome as he begins this exciting new chapter and helps propel PUDO to new heights. Welcome aboard, Elliott!" Commented Elliott Etheredge, "I am excited to be joining the board and excited about the progress we have made expanding both our customer base and our network. We continue to be well supported by our customers who are seeing increasing value in the services we are providing to the market." To signup for the PUDO News Feed please subscribe at For more information, please visit About PUDO Inc. is North America's only independent parcel pick-up and drop-off counter network. PUDO has created a Network of more than 1,200 storefront partners known as PUDOpoint Counters, strategically located very near to where people live, work and play. PUDO partners with retailers and logistics providers to offer a last-mile pick-up and returns network for ecommerce shoppers that reduces cost, increases convenience and provides package security to the last-mile of package logistics. Visit: Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws, such as statements regarding estimated revenues from new contracts, increased parcel volume, activation and implementation of PUDO's technology and possible future expansions of PUDO's operations. This information is based on current expectations and assumptions of management, including assumptions concerning PUDO's ability to integrate its new customers into its network and successfully execute on its new and existing contracts. The use of any of the words "anticipate", "believe", "expect", "plan", "intend", "can", "will", "should", and similar expressions are intended to identify forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, without limitation, uncertainties with respect to service implementation, the economic results of the relationship on the operations of the Company, changes in general economic, market, or business conditions, and those risks set out in the Company's public documents filed on SEDAR. This press release, in particular the information in respect of estimated revenues, may contain future-oriented financial information or financial outlook within the meaning of applicable securities laws. Such future-oriented financial information or financial outlook has been prepared for the purpose of providing information about management's reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by law. SOURCE PUDO Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
23-05-2025
- Automotive
- Forbes
Fiat Channels Its Inner Piaggio Ape With Its Electric Last-Mile Tris
Fiat Professional has trodden on Piaggio's toes with its Tris electric last-mile commercial vehicle. ... More Photo: Fiat Professional. Fiat Professional has trodden on Italian automotive iconography with its Tris electric three-wheeler concept for Africa and the Middle East. The Tris clearly owes its design roots with the long-running Piaggio Ape (pronounced 'ah-pay'), which is Italian for 'bee'. Designed by its Centro Stile design studio, the Tris is Fiat's attempt at solving the last-mile delivery problem, using small, nimble commercial vehicles - much like the Piaggio Ape has done since 1948, and still does. Piaggio has been making the three-wheeled Ape commercial vehicle in Rome since 1948. Photographer: ... More Alessia Pierdomenico/Bloomberg Piaggio offers the Ape 50 (with a 49.8 cubic centimeter petrol engine) and the Ape TM, with a 218cc petrol or a 422cc diesel engine, and they can carry up to 1,775lb while sipping at a rate of 71mpg. A cult icon, Piaggio even had a racing version of the Ape, dubbed the Ape Proto. The Piaggio Ape was designed to navigate medieval Italian cityscapes. Photo: Wolfgang ... More Kaehler/LightRocket via Getty Images. The difference is that the Fiat Tris is, the company claims, electric, with zero local emissions. The Tris isn't just a concept, though, and is headed to Italian production for African and Middle Eastern markets at what Fiat claims is an affordable price. It can be charged from any domestic power point, and has a built-in 220-Volt plug, with an integrated charging system.
Yahoo
20-05-2025
- Automotive
- Yahoo
Cashflow on Wheels, a Multistate FedEx and Amazon DSP Consolidator, Purchases 20 Mullen THREE Class 3s
First 20 vehicles will be delivered in May to Cashflow on Wheels for FedEx routes in Texas and Georgia Initial deal valued at approximately $1.4 million Cashflow on Wheels is a leading logistics company with a focus on transitioning FedEx and Amazon last-mile local delivery to electric vehicles via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) ('Mullen' or the 'Company'), an electric vehicle ('EV') manufacturer, announces today a Class 3 vehicle order with Cashflow on Wheels. The order includes 20 all electric Mullen THREE's, with a retail value of approximately $1.4 million. Cashflow on Wheels is a leading logistics company based in Houston, Texas, with a focus on last-mile delivery, local and long-distance trucking and transportation solutions. The milestone vehicle order will be fulfilled by Mullen dealer, Pritchard Automotive. Cashflow on Wheels' strength is in bringing new efficiencies and sustainability to last-mile delivery for FedEx and Amazon. The addition of the Mullen THREE to their fleet underscores a commitment to transitioning traditional fleets to advanced EV solutions and to their DSPs reducing their total cost of operations. "We have been testing EVs across our routes and have decided to transition our fleet, as we've seen measurable savings of over $500 per route per week, which allows us to reinvest in our continued growth,' said Kendrick Edwards, CEO, Cashflow on Wheels. 'We are confident that adopting EVs will not only reduce costs but also provide the scalability needed to support our future expansion." "Cashflow on Wheel's order reflects the growing demand for environmentally friendly commercial vehicles,' said David Michery, CEO and chairman of Mullen Automotive. 'The Mullen THREE is a perfect fit to their diverse customer base, including FedEx and Amazon, from last-mile delivery to urban logistics.' About Cashflow on WheelsFounded in 2023, Cashflow on Wheels is a leading logistics company based in Houston, Texas, with a focus on last-mile local delivery, local delivery and long-distance trucking and transportation solutions. Cashflow on Wheels strength is in bringing new efficiencies and sustainability to last-mile delivery for FedEx and Amazon. Central to Cashflow on Wheels' philosophy is job creation and creating economic growth opportunities for its drivers and employees. About MullenMullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles ('EVs') with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board ('CARB') and EPA certified and available for sale in the U.S. The Company has also recently expanded its commercial dealer network to seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England and Mid-Atlantic Sept. 7, 2022, Bollinger Motors, of Oak Park, Michigan, became a majority-owned EV truck company of Mullen Automotive. Bollinger Motors has achieved numerous milestones including its all-electric B4, Class 4 truck production start, which launched on Sept. 16, 2024, and the development of a world-class dealer and service network with over 50 locations across the United States. To learn more about the Company, visit Forward-Looking StatementsCertain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, whether the expected timelines for vehicle delivery to Cashflow on Wheels will be met, whether any additional vehicles will be ordered by Cashflow on Wheels, how long governmental incentives for electric vehicles will remain in place, and the resultant selling prices of Mullen vehicles. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen's ability to successfully expand in existing markets and enter new markets; (iv) Mullen's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen's business; (viii) changes in government licensing and regulation that may adversely affect Mullen's business; (ix) the risk that changes in consumer behavior could adversely affect Mullen's business; (x) Mullen's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen's plans and expectations as of any subsequent date. Contact:Mullen Automotive, Inc.+1 (714) Corporate CommunicationsIBNAustin, OfficeEditor@ in to access your portfolio
