Top tech startup news stories you need to know this Thursday, May 10
Good morning! Here are some of the top tech startup news stories for today, Thursday, May 10.
UPS to deploy a fleet of new sleak custom-built all-electric delivery trucks. The UPS has revealed sleek new electric trucks that look like they’ve rolled straight out of Pixar’s Cars series. The truck were built by UK-based startup, Arrival. UPS revealed it’s working with Arrival on a pilot fleet of 35 lightweight electric trucks that look far more futuristic than the standard boxy vehicles. UPS says the trucks have a longer range than other delivery vehicles, reaching around 150 miles on a single charge. As with all electric vehicles, they have zero emissions.
Google to acquire cloud migration startup Velostrata. Google announced Wednesday that it would acquire Tel Aviv, Israel-based Velostrata. The company specializes in helping companies migrating from their internal data centers to the cloud. The terms of the deal were not disclosed. Google however said that Velostrata’s employees would join the company’s office in Tel Aviv. Velostrata software makes it possible for enterprises to build a dynamic, multi-vendor hybrid cloud so IT managers can move workloads from on-premises data centers to and from public cloud in minutes. The startup was founded in 2014 by Ady Degany and Issy Ben-Shaul.
Tesla crash kills 2 Florida high school seniors; NTSB investigating. Two Florida high school seniors were killed Tuesday night when the Tesla they were driving in crashed into a concrete wall and burst into flames, police said. One other student was injured in the fatal crash. The vehicle’s driver, Barrett Riley, 18, of Fort Lauderdale, and front seat passenger, Edgar Monserratt Martinez, 18, of Aventura, were pronounced dead at the scene, the Florida Sun-Sentinel reported. It is the fourth open federal probe involving one of the company’s vehicles.
BMW Blockchain Trial Uses Cryptocurrency Tokens to Improve Mileage Tracking. London, U.K.-based provider of a blockchain-based data marketplace for the transportation industry, DOVU, has recently completed a test with BMW to use ERC-20 tokens and blockchain technology track vehicle mileage. DOVU successfully completed the first pilot with BMW & Alphabet with a simple use case that will open up to more applications of DOVU technology.
Cyber insurance startup At-Bay raises $13 million Series A funding co-Led by Khosla Ventures and Lightspeed. At-Bay announced it has raised a $13 million Series A funding to accelerate development of its proactive cyber security monitoring service and roll out its insurance products. At-Bay is a cyber insurance startup that provides cyber insurance for the digital age. The company was founded in 2016 with an aspiration to use cyber security expertise to provide insurance products and services that enable companies to innovate despite the recurrent, evolving threat of cyber risk.
Targetprocess lands Series A 14 years after launching. Belarus-based TargetProcess, a startup with a mission of making it simpler to manage agile-driven programming projects, final raise its first funding 14 years after its launch in 2004. The company announced it has raised $5 million Series A led by the European Bank for Reconstruction and Development and Zubr Capital, a private equity firm in Minsk.