Only Products and Other Stuff

Unacademy has laid off 12% of its workforce, or over 350 roles, in its latest round of layoffs — just over four months after cutting about 350 roles  in November. Unacademy co-founder and CEO Gaurav Munjal announced the new layoff decision in a Slack post to employees. “We have taken every step in the right decision to make our core business profitable, yet it’s not enough. We have to go further, we have to go deeper,” he wrote in the message reviewed by TechCrunch. “Today’s reality is a contrast from two years ago where we saw unprecedented growth because of accelerated adoption of online learning. Today, the global economy is enduring a recession, funding is scare and running a profitable business is key. We have to adapt to these changes, build and operate in a much leaner manner so we can truly create value for our users and shareholders,” he said. The latest move comes just days after the Bengaluru-based startup hived off programming learning platform CodeChef, which it ac...

When Stellantis brand Jeep descended on Moab, Utah this week for its annual off-roading and concept roadshow, electrification ruled the road. The automaker showed off this week seven concepts — four of which are electrified — from the Jeep brand and Jeep Performance Parts (JPP) by Mopar ahead of the Easter Jeep Safari, an annual multi-day event hosted by Moab’s Red Rock 4-Wheelers. Jeep is not the organizer of the Easter Jeep Safari. However, the company does use the annual gathering to showcase a handful of concept vehicles to give the world (and media) a sense of what might be coming down the road.  TechCrunch was on hand to test all of them in a controlled off-road environment. While the concept vehicles were equipped with an array of powertrains, it was hard to ignore the variety of plug-in hybrid and battery-electric setups. (Although it was also sure hard to miss the Jeep Scrambler 392 concept equipped with a 6.4-liter HEMI V-8 engine that’s inspired by the 1981 Jeep Scramb...

The U.S. Treasury Department’s guidance on battery sourcing requirements for the electric vehicle tax credits will result in fewer vehicles being eligible for full or partial credits, reports Reuters, citing an unnamed U.S. official. The proposed EV credit guidance as included in the Inflation Reduction Act says that in order for vehicles to qualify for $3,750, which is half of the total credit, 50% of the value of battery components must be produced or assembled in North America. To get the remainder of the credit, 40% of critical minerals must be sourced from the U.S. or a country with which it has a free trade agreement. The guidance on battery sourcing was meant to kick in on January 1, 2023, but in December the Treasury Dept. decided to hold off until March to give some EV-makers a grace period to meet the requirements. The Treasury Dept. is expected to share its guidance Friday, and while the Reuters report doesn’t state exactly what it will be, we can guess that the full gu...

If you think embedded insurance is the only hot thing in insurtech these days, we’ve got a surprise in store for you: While it’s true that startups that help sell insurance together with other products and services are enjoying tailwinds, there are plenty of other opportunities in the space, several investors told TechCrunch+. You see, insurtech startups often need to take into account the myriad rules and regulations in place when they seek to innovate and embed insurance into products, which might make it difficult to pull it off. And given the current emphasis on achieving cost efficiency to extend runways in the broader startup ecosystem, it appears investors are open to insurtech startups that can build a sustainable business model, regardless of it including embedded insurance. “Insurtech startups that do not offer embedded insurance, and rather provide other innovative solutions will still attract VC funding this year, especially if they can show cost-efficient and sustainabl...

Online used vehicle retailer Shift Technologies cut its workforce by 30% in the first quarter as the company sought to reduce costs and eliminate duplicate positions following its merger with CarLotz, CEO Jeff Clementz said during an earnings call. The layoffs came as the company saw its revenue plummet in the fourth quarter and its operating losses expand. Shift closed its merger with CarLotz in December and immediately eliminated duplicate costs and roles, Clementz said during Tuesday’s earnings call. In early February, the company decided to exit CarLotz’s presence on the East Coast and shut down the Downer Grove, Illinois location in order to focus on core West Coast markets. One remaining CarLotz location in Pomona, California remains open. Shift also has three locations in Los Angeles, San Francisco Bay Area and Portland. “While difficult, we reduced headcount by approximately 30% in the first quarter,” Clementz said on the call. “In addition to corporate roles, the majority ...

Kia revealed Tuesday the next EV in its portfolio, a three-row flagship SUV called the EV9 that is packed with tech and a key product in the company’s mission to reach annual sales of 1.2 million battery electric vehicles by 2030. The South Korean automaker didn’t disclose pricing, but it did provide numerous details on the SUV, which will go on sale in selected global markets in the second half of 2023. And more specs may come our way next week when the Kia EV9 makes its North American debut at the New York Auto Show. While Kia hasn’t listed every market that the EV9 SUV will be sold, it is certainly one made for North America. Kia has already gained U.S. customers with its full-sized Telluride SUV. Now it’s betting that it can land even more customers with a large all-electric SUV that is likely more affordable than other similarly sized EVs on the market today such as the Mercedes EQS SUV and the Rivian R1S. The stakes are certainly high for the company; Kia CEO Ho Sung Song went...

Saildrone has quickly risen to the surface of the growing field of autonomous seagoing vehicles — a category you could be forgiven for not knowing about, but which is increasingly important across numerous industries. Its latest vessel, the Voyager , strikes a balance between its shorter Explorer and large-scale Surveyor, and they’re already making one a week. The Voyager is a 33-foot uncrewed surface vehicle or USV, intended for near-shore maritime operations like coastal and lake mapping. In addition to the expected sonar equipment, each craft is equipped with traditional cameras, radar, and “sub-surface passive acoustics” to help build a picture of the sea or lake bed down to a depth of 900 feet. It also integrates other improvements, like more power and a more consistent data uplink. You can imagine how useful it would be to send one of these things around every month to provide up-to-date metrics on your harbor or channel. In addition to the ordinary changes that come with tidal...