Lidar sensor maker Innovusion raises $64M in latest funding

In a statement lidar sensor maker Innovusion said, it had raised $64 million to ramp up production and supply Chinese electric vehicle (EV) maker Nio Inc’s ET7 sedan, which is scheduled to start deliveries in early 2022. The funding includes new investments from Singapore state investor Temasek and venture capital firm Joy Capital. Existing investors also…

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Department of Energy launches $100 million tech funding in push towards clean energy

In a statement the Biden Administration announced that the U.S. Department of Energy will “offer $100 million in funding to support low-carbon energy technologies”; it will also create a working group to aid their development and sale. The announcement was made by National Climate Advisor Gina McCarthy at the White House’s first meeting of the…

U.S. lawmakers back $1.9 billion program to rip and replace Huawei & ZTE telecom gear

According to two sources briefed on the matter at hand, U.S. lawmakers will back $1.9 billion program to fund a removal of Chinese communication gear that it deems as a threat to national security risks. Lawmakers will also back a $3.2 billion program for an emergency broadband which will benefit low-income Americans, confirmed senior congressional…

University of Cambridge’s DIOS-CoVax2 COVID-19 candidate set for autumn human trials

On Wednesday, in a statement, the University of Cambridge said, it aims to start clinical trials of its COVID-19 candidate in autumn. The development comes in the wake following funding to the tune of 1.9 million pounds from the British government. The approach adopted by the scientists behind the vaccine uses genetic sequences of all…

China’s financial leasing arm cancels orders for 29 Boeing 737 MAX jets

On Monday, adding to its string of recent cancellations, China Development Bank (CDB) Financial Leasing Co stated, it has agreed with Boeing, to cancel the purchase of 29 undelivered 737 MAX jets. The 737 MAX has been grounded globally for more than a year following deadly crashes in Indonesia and Ethiopia. “In light of evolving…

SpaceX could be valued at $36 billion in latest funding round

According to sources familiar with financing of Elon Musk’s SpaceX, the company is looking to raise around $250 million, which could see its valuation touch $36 billion, reported CNBC. According to CNBC’s report, SpaceX plans on raising the amount at a price of $220 per share. The funding round is expected to close after the…

FBI’s Counterintelligence Division admits to slow response in China’s theft of U.S. intellectual property

During a testimony to the U.S. Senate, the FBI said it wished it had taken swifter action with regard to Chinese recruitment of U.S.-based researchers to transfer intellectual property from American laboratories. The admission by John Brown, assistant director of the Counterintelligence Division at the FBI, backed up a Senate subcommittee report which concluded that…