MENLO PARK: Menlo Ventures, a leading venture capital firm, announced Tuesday that Matt Kraning has joined as its newest partner. Kraning, a seasoned entrepreneur and technologist, will focus on investments in artificial intelligence, enterprise SaaS, national defense, and cybersecurity. Kraning previously co-founded and served as chief technology officer of Expanse, a cybersecurity company acquired by…
All posts in Wire
Atlantica Sustainable Infrastructure Ltd. acquires transmission line in Uruguay
MONTEVIDEO: Atlantica Sustainable Infrastructure Ltd. has officially acquired a 132-mile transmission line in Uruguay, further strengthening its footprint in the region. This transmission line, operational since 2019, is under a lease agreement with Uruguay’s state-run electricity company, UTE, until 2049. As part of this deal, UTE pays a fixed tariff in U.S. dollars, adjusted monthly for inflation.…
Waymo’s driverless fleet embarks on Tokyo data collection mission
Waymo, the self-driving technology company under Alphabet, is set to begin testing its driverless vehicles on public roads in Japan next week, marking its first international endeavor. The milestone “road trip” aims to collect data on Japanese driving nuances, such as left-hand traffic and dense urban navigation. Although Waymo has not confirmed plans to launch…
Ancoris acquires Sundown Solutions to form new tech business, Telana
SIMONSTONE: Sundown Solutions, a Lancashire-based technology consultancy, has been acquired by Bracknell-headquartered Ancoris to create a new tech business named Telana, the companies announced Tuesday. The financial terms of the deal were not disclosed. Telana, derived from a term meaning “where treasures are kept,” aims to serve as a market-leading, end-to-end innovation provider, leveraging expertise…
BYD brings luxury Denza EVs to Europe as trade disputes loom
Stocks reverse losses after president temporarily eases trade war measures MILAN: Chinese electric vehicle giant BYD is expanding its presence in Europe with the launch of its premium Denza brand, despite escalating trade tensions between China and the European Union. The automaker announced Wednesday at Brera Design Week in Milan that its first European Denza…
Cal-Maine Foods to acquire Echo Lake Foods for $258 million
JACKSON: Cal-Maine Foods, a leading U.S. egg producer, announced it has reached a deal to acquire Echo Lake Foods, a Wisconsin-based breakfast foods manufacturer, for approximately $258 million. The acquisition will be funded using Cal-Maine’s existing cash reserves. In a statement released alongside its third-quarter earnings, Cal-Maine said it had signed a “definitive agreement” to…
Tessell secures $60 million to revolutionize database services
SAN RAMON: Tessell, a multi-cloud database-as-a-service startup, has raised $60 million in a Series B funding round led by WestBridge Capital. The new funding will support the company’s expansion efforts and the launch of its AI-powered conversational database management service. Founded four years ago, Tessell aims to address challenges faced by businesses as they manage…
US mortgage applications surge 20%, breaking a three-week decline
BOSTON: In a striking turnaround for the US housing market, mortgage applications surged 20% in the week ending April 4, according to the latest data from the Mortgage Bankers Association of America (MBA). This notable rebound follows three consecutive weeks of declines, offering a glimmer of hope for both prospective homeowners and the broader housing…
Arla Foods, DMK Group announce plans for major dairy merger
VIBY J: Arla Foods and DMK Group have unveiled plans to merge, forming Europe’s largest dairy cooperative with more than 12,000 farmers and a projected annual revenue of €19 billion. The proposed merger, announced by the companies on Tuesday, aims to strengthen the dairy industry by leveraging shared values and complementary strengths. Arla Foods said…
Stellantis halts production of Leapmotor EV in Poland
MILAN: Stellantis NV said Tuesday it has stopped assembling the Leapmotor T03 electric vehicle at its plant in Tychy, Poland, and is evaluating alternative production options for the Chinese-made model. Production of the small electric car ended March 30, the Franco-Italian automaker said in a statement. While Stellantis remains committed to launching Leapmotor vehicles in Europe, it…
Sizl raises $3.5 million to expand its cook-to-order kitchens
CHICAGO: Sizl, a cook-to-order delivery service based in Chicago, aims to change perceptions by delivering meals made with fresh ingredients in about 30 minutes. The company announced Tuesday that it raised $3.5 million in a seed round at a post-money valuation of $12 million. Unlike traditional dark kitchens that serve as shared spaces for various restaurants, Sizl…
Insperial acquires UK-based aircraft upholstery manufacturer MGR Foamtex
THAME: Insperial has announced the acquisition of MGR Foamtex, a leading UK-based aircraft upholstery manufacturer. MGR Foamtex, founded in 1985 and headquartered in Thame, Oxfordshire, is renowned for its skilled engineering and commitment to quality craftsmanship. Les Simpson, Chief Executive of MGR Foamtex, expressed enthusiasm about the acquisition, stating, “We are delighted to become part…