Solid Power IPO: EV Battery Maker Files for $1.2B Public Offering

Daily Crunch: June 15, 2021

A daily summary of TechCrunch’s most significant and impactful stories can be delivered directly to your inbox each day at 3 p.m. PDT. You can subscribe to this service here.

This is a welcome back to the Daily Crunch for June 15, 2021. Henry is providing coverage while the usual author is taking a well-deserved break.

Pittsburgh City Spotlight Event

We have confirmed that Pittsburgh Mayor Bill Peduto will be a speaker at our City Spotlight event focusing on Pittsburgh. As Brian Heater noted, Pittsburgh is currently experiencing a flourishing period for robotic startups.

The city is also a central hub for autonomous vehicle research and has been the origin point for successful ventures such as Duolingo.

Event Details

Mayor Peduto will be engaging in a discussion with Carnegie Mellon University President Farnam Jahanian. The conversation will center on the obstacles overcome and the achievements realized in the development and support of this thriving ecosystem.

• The event is being held virtually.
• It represents a valuable opportunity to learn about Pittsburgh’s tech landscape.

Registration for this event is now open; you can register to attend here.

TechCrunch's Leading Three Stories

Recent developments in the technology and investment sectors have been highlighted by TechCrunch. Three key stories are currently shaping the landscape.

Solid Power's Public Debut

Solid Power, a developer of solid-state battery technology, is preparing for a public listing. The company, which receives backing from major automotive manufacturers like Ford and BMW, announced on Tuesday its plans to merge with Decarbonization Plus Acquisition Corp III.

This merger will facilitate Solid Power’s entry into the Nasdaq exchange. The resulting entity is valued at $1.2 billion based on post-deal implications.

Andreessen Horowitz Launches 'Future'

Andreessen Horowitz (a16z) has initiated a new media venture named Future. This publication is financially supported by a16z funds.

Future aims to deliver content currently unavailable in the market. It will leverage the firm’s distinctive position and insights, as stated by Margit Wennmachers, a16z’s operating partner of marketing and Future. The venture enters a competitive media environment.

Lina Khan Confirmed as FTC Commissioner

A new commissioner has been appointed to the Federal Trade Commission (FTC). The Senate confirmed Lina Khan, a known critic of Big Tech and a leading antitrust scholar, on Tuesday.

This confirmation signals increased oversight for the technology industry. Khan received a 69-28 vote in her favor, demonstrating bipartisan support for her proposals to regulate powerful technology companies.

The appointment reflects a growing consensus regarding the need to address the influence of major tech corporations.

Startup Funding and Venture Capital Updates

Recent investment activity showcases diverse innovation across multiple sectors. Several companies have secured significant funding rounds, reflecting continued investor confidence in emerging technologies and business models.

Renewable Energy and Industrial Applications

Heliogen, a company focused on concentrated solar thermal energy, has successfully obtained $108 million in funding. This capital will be utilized for the testing of their advanced 1,000-degree solar furnace. Testing will occur at select mining and refining facilities.

Cybersecurity and Zero Trust Architecture

Elisity, a platform dedicated to facilitating the shift towards zero trust security protocols, has secured $26 million in funding. Their technology assists organizations in moving away from traditional access methods and implementing stricter access controls.

Author Engagement and Literary Communities

BookClub, a platform connecting authors directly with readers through virtual book groups and exclusive content, has raised $20 million in a Series A funding round. The platform allows authors to engage with their audience through interviews and Q&A sessions.

Social Networking and Event Discovery

IRL, a social calendar application, has achieved unicorn status with a valuation of $1.17 billion after raising $170 million in funding. The company successfully adapted to the pandemic by focusing on virtual event discovery.

Home Services Marketplace

Thumbtack, a popular platform for connecting homeowners with skilled professionals, has raised $275 million, resulting in a $3.2 billion valuation. The service provides access to a wide range of home improvement and repair experts.

Emergency Response Technology

Carbyne has received $20 million in funding to enhance its emergency response coordination platform. This technology streamlines communication between emergency services, including ambulances and hospitals, to improve life-saving efforts.

Sustainable Venture Capital

G2 Venture Partners has announced the closing of a $500 million fund. This fund will be dedicated to supporting entrepreneurs developing solutions that improve efficiency, environmental sustainability, and social responsibility across various industries.

Recognizing High-Potential Founders in Early Stages

What characteristics do investors prioritize when evaluating startups?

Entrepreneurs frequently attempt to portray attributes they believe investors desire, often with limited success. The truth is, few possess the ability to convincingly feign qualities like patience, dedication, or a strong work ethic.

Johan Brenner, a general partner at Creandum, made early investments in companies such as Klarna and Spotify, alongside numerous other European startups. Throughout his two decades of experience, he has pinpointed five crucial traits consistently found in founders who build billion-dollar businesses.

Brenner explains that a genuinely exceptional founder doesn’t necessarily exhibit all these qualities from the outset. However, they should demonstrate an ambition for significant growth, coupled with a focus on practical execution and an understanding of how to achieve scalability.

(Extra Crunch is our membership program designed to empower founders and startup teams. You can register here.)

Big Tech Inc.

Significant developments are unfolding across the global technology landscape, impacting content creators, e-commerce businesses, and the future of European innovation.

Apple Podcasts Subscriptions Launch

Apple Podcasts Subscriptions are now accessible globally. This new feature provides podcast listeners with enhanced experiences through paid subscriptions.

These subscriptions unlock a range of advantages, such as ad-free content, previews of upcoming episodes, and exclusive bonus material. Creators are empowered to offer unique benefits to their dedicated audiences.

The subscription service is currently available in over 170 countries, expanding access to premium podcast content worldwide.

Shopify's Shop Pay Expansion

Shop Pay, Shopify’s streamlined one-click checkout solution, is extending its reach. The platform has announced its availability to all U.S. merchants utilizing Facebook or Google for sales.

Notably, this access is granted regardless of whether merchants currently leverage Shopify’s core e-commerce platform. This move aims to simplify the purchasing process for consumers across multiple channels.

European Tech Giant Initiative

In Europe, a collaborative effort is underway to foster the next generation of technology leaders. A coalition of 200 individuals, including startup founders, investors, and government officials, are supporting a manifesto and a series of recommendations.

The initiative seeks to cultivate an environment conducive to the growth of large-scale technology companies throughout the continent. This includes addressing regulatory hurdles and promoting investment in innovative ventures.

This collective backing signals a strong commitment to establishing Europe as a prominent hub for technological advancement and entrepreneurial success.

TechCrunch Experts: Growth Marketing

We have been very pleased with the feedback received regarding our survey focused on leading growth marketers. Participation is still open; complete the survey at this link.

Growth marketing professionals are encouraged to share the survey with their respective clients. We are eager to gather insights from a broad range of perspectives.

Further information concerning this initiative, including details on how the collected data will influence our editorial direction, can be found at techcrunch.com/experts.