Politicians and the press have been talking a lot in recent months about improving prospects for the U.S. manufacturing sector and those it employs. But among venture capitalists, software still rules the day, probably now more than ever.
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(Reuters) – German luxury car maker Daimler on Tuesday said it is taking a 10 percent stake in U.S. electric car start-up Tesla Motors, expanding its presence in the growing market for low- and no-emissions vehicles. Neither company would disclose the exact value of the deal, though Tesla founder and Chief Executive Elon Musk said [...]
LOS ANGELES/DETROIT (Reuters) – Tesla Motors Inc expects to close a financing round of over $20 million from existing investors as soon as next week to bolster a cash balance now at $9 million, said Elon Musk, founder and chief executive of the electric car start-up. Musk, who became a billionaire by founding PayPal, said [...]