News Summary

The latest news in global startups highlights significant developments in transportation and energy. Redwood Materials, a company focused on recycling EV batteries, raised $350 million in a Series E round led by Eclipse Ventures, with Nvidia’s NVentures also participating. The funds will be used to expand its energy storage business, giving new life to EV batteries by integrating them with renewable energy sources to power AI data centers. Meanwhile, Spiro, an African electric motorbike startup based in Dubai, secured $100 million in funding led by the Fund for Export Development in Africa, marking the largest ever raise for an African e-mobility company. Additionally, Avride received strategic investments and commitments totaling $375 million, backed by Uber and Nebius. These developments underscore a growing interest in sustainable and innovative transportation solutions globally.