News about Silicon Valley business almost everyday.
Caltrain has launched a new electrified schedule, bringing the 160-year-old San Francisco-San Jose rail corridor from diesel power to electric. Caltrain is currently running 100% renewable, zero-emission service from San Francisco to San Jose for the first time. The new high-performance, state-of-the-art electric trains offer a better experience for Caltrain riders. Caltrain service is now faster and […]
SAN FRANCISCO — Mercor has secured a $30 million Series A round at a $250 million valuation. The round was led by Victor Lazarte and Bill Gurley at Benchmark, with participation from General Catalyst, Peter Thiel, Jack Dorsey, Adam D’Angelo, Larry Summers, Chris Re, and others. Victor Lazarte at Benchmark will be joining the board to continue supporting Mercor’s growth and development. [Photo above: Co-founders Adarsh Hiremath, Brendan Foody, […]
SAN FRANCISCO – A federal grand jury indicted Baba Nadimpalli, the founder and former Chief Executive Officer of SKAEL, Inc. (SKAEL), with securities and wire fraud for defrauding investors and misleading them about the company’s revenue, annual recurring revenue (ARR), and other financial and sales information. According to an indictment filed Jan. 17, 2024 and […]
The Justice Department has filed a civil antitrust lawsuit against San Francisco-based Visa for monopolization and other unlawful conduct in debit network markets in violation of Sections 1 and 2 of the Sherman Act. Filed in the U.S. District Court for the Southern District of New York, the complaint alleges that Visa illegally maintains a […]
BERKELEY — Twelve, a carbon transformation company that converts captured carbon dioxide into valuable chemicals, fuels, and other essential products typically made from fossil fuels, has secured $645 million in funding. This raise is a strategic mix of capital which includes $400 million in project equity led by TPG Rise Climate, $200 million in Series C […]
SAN FRANCISCO — Ferrum Health, a developer of software for deploying AI into health systems, has raised $16 million in a Series A funding round led by Foundry, with participation from Catalyst by Wellstar, Headwaters Ventures, and UnitedHealthcare Accelerator. Prior investors that also rejoined the current round include Blumberg Capital, Cercano, GSR, Urban Innovation Fund, and Singtel Innov8. […]
SAN FRANCISCO — UJET, Inc., a leading provider of AI-powered cloud contact center solutions, has closed its latest round of funding led by Sapphire Ventures, with participation from new investors KeyCorp and IonPacific, and existing investors GV, Kleiner Perkins, Citi Ventures, DCM, and Ericsson Ventures. UJET’s latest funding round brings the total in Series D […]
Apple announced California driver’s licenses and state IDs can now be added to Apple Wallet, enabling residents to seamlessly and securely add and present their IDs using iPhone or Apple Watch.1 The launch of California driver’s licenses and state IDs in Apple Wallet will roll out as part of the California DMV’s broader mobile driver’s […]
The U.S. Food and Drug Administration has authorized the first over-the-counter (OTC) hearing aid software device, Hearing Aid Feature, intended to be used with compatible versions of the Apple AirPods Pro headphones. Once installed and customized to the user’s hearing needs, the Hearing Aid Feature enables compatible versions of the AirPods Pro to serve as […]
The Santa Clara County District Attorney’s Gun Violence Task Force and sheriff’s deputies raided a San Jose home last Wednesday, seizing an arsenal of weapons and explosives. Christopher Paul Roberts, a 37-year-old resident of the 2200 block of Bailey Avenue, was arrested and charged with, among other crimes, explosive and assault weapon felonies. “Our neighborhoods […]
MENLO PARK — DeltaStream, Inc., a serverless stream processing platform, has raised $15 million in Series A funding from New Enterprise Associates (NEA), Galaxy Interactive and Sanabil Investments. The funding will accelerate the company’s vision of enabling a complete serverless stream processing platform to manage, secure and process all streaming data, irrespective of data source […]
SANTA CLARA — Intel Corp. says it will create custom chip designs under a multi-year, multi-billion-dollar contract covering product and wafers for Amazon Web Services. This is a significant expansion of the two companies’ longstanding strategic collaboration to help customers power virtually any workload and accelerate the performance of artificial intelligence (AI) applications. As part […]