News Summary

The startup world saw significant activity with several companies undergoing major transitions. Rad Power Bikes and Luminar have filed for bankruptcy, with Rad Power Bikes seeking to sell its business within 45-60 days and Luminar planning to sell off its assets after dealing with layoffs and a legal battle with Volvo. Meanwhile, Spinny, an Indian online marketplace for used cars, is raising $160 million to acquire the car services startup GoMechanic, valuing Spinny at $1.8 billion post-money. In other developments, the Brussels-based e-bike startup Cowboy has been acquired by ReBirth Group Holding for €15 million from existing shareholders. Furthermore, Nirvana Insurance, focused on trucking, raised $100 million in a Series D round, with its valuation now at $1.5 billion.