Autonomous vehicle developer Avride has secured up to $375 million in strategic investments and commercial commitments from Uber Technologies and Nebius Group, the companies announced Friday.
The funding will help the Austin-based company rapidly scale its self-driving car and delivery robot operations as it prepares to launch robotaxi service on Uber’s platform in Dallas by year’s end.
The investment builds on a multi-year partnership between Avride and Uber that began in 2024. Avride’s delivery robots already operate in Jersey City, Austin and Dallas, fulfilling orders for hundreds of restaurants through Uber Eats.
“We’re excited to continue deepening our partnership with Avride and look forward to introducing their impressive autonomous driving technologies to more people in more markets,” said Sarfraz Maredia, Uber’s global head of autonomous mobility and delivery.
The capital will enable Avride to grow its fleet, advance AI-driven product development and expand into new markets. The company has been developing autonomous technology since 2017 and says its delivery robots have completed hundreds of thousands of orders domestically and internationally.
Avride CEO Dmitry Polishchuk said the company aims “to make autonomous transportation an integral part of everyday life.”
Arkady Volozh, founder and CEO of Nebius Group, called Uber “a strategic investor that shares Avride’s vision” in pioneering AI-driven autonomous transportation.
Nebius, a Netherlands-based technology company traded on Nasdaq, builds AI infrastructure and cloud platforms. Avride operates as one of its businesses alongside edtech company TripleTen. Nebius also holds stakes in ClickHouse and Toloka.
North view of Congress Street Bridge in Austin Texas and Capitol Building
More than 150 startups will vie for recognition as Austin’s most promising innovators when the A-LIST Awards return Wednesday to celebrate the city’s growing technology ecosystem.
The annual event at the Long Center for the Performing Arts will honor companies across 10 categories, from artificial intelligence and defense technology to life sciences and fintech. Winners will be announced during the ceremony, which runs from 5 p.m. to 9 p.m.
“Austin is where bold ideas become industry leaders,” organizers said in announcing this year’s finalists. “The A-LIST Awards celebrate the startups shaping the future, each playing a vital role in the Austin Innovation Ecosystem.”
New categories this year include the Defense Technology Award and the International Startup of the Year Award, reflecting Austin’s expanding role as a hub for military tech and its growing appeal to global entrepreneurs.
The AI Standout Innovation Award drew 27 finalists, the most of any category, as artificial intelligence companies continue to flock to Austin. Sunthetics earned nominations in three separate categories — life sciences, energy and AI — highlighting the overlap between emerging technologies.
Notable finalists include Base Power Company, which recently raised $1 billion to expand its residential battery network; humanoid robotics maker Apptronik; and aerospace startups Firefly and CesiumAstro.
The competition also recognizes Austin’s venture capital community, with 17 firms competing for VC Firm of the Year. Nominees include LiveOak Ventures, Silverton Partners and Next Coast Ventures.
The Emerging Startup Award features 50 early-stage companies spanning industries from flavored milk and cacao to semiconductor manufacturing and therapeutic development.
Winners will be selected by a panel of judges from Austin’s investment and business community. The ceremony will include VIP and general receptions, with an after-party following the awards presentation.
Tickets are available at the event website. The Long Center is located at 701 W. Riverside Drive.
Rivian Automotive is cutting roughly 4.5% of its workforce as the electric-vehicle maker restructures operations ahead of its midsize R2 SUV launch, CEO RJ Scaringe told employees Thursday.
“With the launch of R2 in front of us and the need to profitably scale our business, we have made the very difficult decision to make a number of structural adjustments to our teams,” Scaringe wrote in a memo to staff.
The California-based EV maker is consolidating customer-facing operations to streamline the buying experience. Vehicle operations teams will be integrated into the service organization to reduce customer handoffs, while delivery and mobile operations will move under the sales organization to create a single point of contact through the entire purchase and delivery process.
Rivian is also forming a unified marketing organization for the first time. The company previously split marketing functions across multiple departments. Scaringe will serve as interim chief marketing officer while the company recruits for the role, overseeing the Marketing Experiences and Creative Studio teams.
“These are not changes that were made lightly,” Scaringe said. “With the changing operating backdrop, we had to rethink how we are scaling our go-to-market functions.”
The layoffs could affect Rivian’s Austin operations, where the company maintains a service center and flagship showroom. The company opened a 10,000-square-foot retail space on South Congress Avenue in June 2024, featuring a rooftop patio and direct access to the Lady Bird Lake Trial. The Austin locations house sales, delivery, mobile operations and service teams — functions targeted in the restructuring.
Job postings show Rivian currently employs field sales guides, delivery specialists, service technicians and vehicle detailers in Austin. The memo indicates delivery and mobile operations roles are being consolidated under the sales organization, while vehicle operations positions are moving to the service division.
The restructuring comes as Rivian works to achieve profitability amid high production costs and intense competition in the slowing EV market. The company builds vehicles in Normal, Illinois, and maintains operations across multiple U.S. cities.
Scaringe expressed confidence in the upcoming R2, the company’s more affordable SUV starting at $45,000. “These changes are being made to ensure we can deliver on our potential by scaling efficiently towards building a healthy and profitable business,” he wrote.
Wise, a global technology company specializing in international money transfers, announced Tuesday a 200% expansion of its Austin office, bringing its total footprint to 90,000 square feet across three floors in Domain Tower II.
The expansion reinforces the company’s commitment to North America and positions Austin as a critical hub for the London-based fintech firm. Wise employs more than 700 people in the U.S. and continues hiring across engineering, product, marketing and customer support functions.
“The expansion of our Austin office hub is a powerful testament to the opportunity we have in North America,” said Isabel Naidoo, chief people officer at Wise. “Austin’s dynamic and developing technology landscape serves as an exciting backdrop that will support the Wise team as we continue to build offerings that meet the international money needs of our growing customer base.”
The Domain office houses cross-functional teams and features workspace designed to promote collaboration and innovation. Amenities include a multi-faith prayer room, quiet room and wellness room with massage chairs.
Design elements reflect Austin’s character, with ceiling fixtures inspired by the State Capitol building, wave-shaped furniture echoing the Colorado River and bat-themed murals created by employees’ children.
The expansion comes as Wise targets North American customers seeking alternatives to high-fee wire transfers and slow international transactions. The company’s mission centers on eliminating barriers in cross-border money movement.
Mayor Kirk Watson praised the investment.
“Wise is a great example of the kind of innovative, high-growth businesses that make Austin a leading hub for tech companies,” Watson said. “It demonstrates that Austin remains one of the best places to start and grow a business.”
The announcement follows continued growth in Austin’s technology sector, which has attracted numerous global companies seeking access to technical talent and favorable business conditions.
Jim Breyer, the venture capitalist who made his first billion from an early Facebook investment, was featured on the cover of Forbes magazine’s September issue as his fortune doubled to $3.8 billion following the public debut of cryptocurrency firm Circle Internet Group.
Breyer, 64, moved his firm Breyer Capital from Silicon Valley to Austin in 2020 and now works alongside his two adult sons as partners. The Forbes profile detailed his investment career and his renewed focus on artificial intelligence applications in healthcare.
Circle’s June initial public offering sent the company’s market capitalization to $55 billion as investors bought shares in the creator of USDC, a stablecoin backed by U.S. Treasury bills. Breyer, the second-largest individual shareholder, cashed out nearly $100 million in mid-August while retaining an 8% stake worth more than $1.7 billion.
The Circle windfall marks Breyer’s fourth investment returning at least 100 times his initial stake. He first invested in the company in 2013 at 27 cents per share, four years after Bitcoin’s introduction.
Breyer gained billionaire status in 2011 after Accel Partners’ 2005 investment of $12.7 million in Facebook at four cents per share. The social network recently traded at $743 per share. He topped Forbes’ Midas list of best venture capital investors three consecutive years from 2011 to 2013.
His other major wins include early investments in Spotify, Etsy, Marvel Entertainment and the Boston Celtics. Breyer sold his Celtics stake this year when the franchise was valued at $6.1 billion.
In 2020, Breyer brought his sons Daniel, 30, and Ted, 28, into Breyer Capital as partners, transforming the firm into an active family office. Daniel published his first novel in April while Ted has focused on cryptocurrency investments since college.
A year after relocating to Austin, Breyer shifted his investment strategy toward companies developing AI solutions for life sciences and healthcare. In April, he hired Morgan Cheatham, a venture capitalist pursuing a medical degree, as partner to lead those efforts.
One of Breyer Capital’s most successful healthcare AI bets is OpenEvidence, a free app allowing doctors to consult medical research. The company raised $210 million in July at a $3.5 billion valuation. Forty percent of U.S. doctors have signed up for the service.
Breyer faced personal tragedy in February 2024 when his wife Angela Chao, CEO of shipping company Foremost Group, died in an accident at the couple’s Texas ranch. He is raising their 5-year-old son with help from two nannies, according to the Forbes’ article.
“So much of it is, I persevere for that little five-year-old, ensuring that I’m the best dad possible and the best dad and partner to the rest of the family,” Breyer told Forbes.
The venture capitalist, who serves on Blackstone’s board, has embraced Texas life, owning more than 20 pairs of cowboy boots and attending 90% of University of Texas Longhorns football games.
Austin Tech Week is a five-day celebration running October 20-24 at Capital Factory, bringing together entrepreneurs, tech leaders and investors. The event includes workshops, panel discussions, networking opportunities and investor meetings.
Key Austin Tech Week Events:
Wednesday, Oct 22 – Various sessions and networking events at Capital Factory (austintech.com for full schedule)
Thursday, Oct 23, 8:00-9:00 AM – Austin Technology Council breakfast session at Accenture, 323 Congress Ave, 3rd Floor
Friday, Oct 24 – Final day of Austin Tech Week main programming
Friday-Sunday, Oct 24-26, 5:00 PM – Austin Tech Week AI Hackathon hosted by Nvidia and AITX, featuring hands-on building and collaboration with Austin’s top developers
OTHER UPCOMING TECH EVENTS
Monday, Oct 27, 6:00 PM – The Rising Trend of One-Person Businesses Meetup at Capital Factory Austin Centre
Monday, Oct 27, 6:30 PM – Austin Enlightenment Society Meetup at Capital Factory Austin Centre
Monday, Oct 27, 6:30 PM – Bescy ATX Meetup at Capital Factory Austin Centre
Base Power announced Monday it has raised $1 billion in Series C financing to accelerate nationwide expansion of its residential battery storage network.
The round was led by Addition, with participation from all major existing investors including Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed and Andreessen Horowitz. New investors include Ribbit, CapitalG, Spark, BOND, Lowercarbon and 1789, according to a company statement.
The Austin-based startup, founded in 2023, installs battery systems in homes that provide backup power during outages while allowing the grid to draw on stored electricity during peak demand periods.
“The chance to reinvent our power system comes once in a generation,” said Zach Dell, CEO and co-founder. “The challenge ahead requires the best engineers and operators to solve it and we’re scaling the team to make our abundant energy future a reality.”
In less than two years, Base has deployed more than 100 megawatt-hours of residential battery capacity across the Dallas-Fort Worth metroplex, Greater Houston and the Austin region. The company has partnered with homebuilder Lennar and several utilities.
Base is building its first energy storage and power electronics factory at the former Austin American-Statesman printing press site in downtown Austin to meet growing demand.
The company recently qualified for Texas’s Aggregated Distributed Energy Resource program, which allows distributed batteries to be combined and bid directly into the state’s power grid. The program generates additional revenue that helps Base lower costs for homeowners.
“The only way to add capacity to the grid is physically deploying hardware, and we need to make that here in the U.S., ourselves,” said Justin Lopas, COO and co-founder.
Austin TX downtown panorama skyline cityscape. The Boardwalk Trail at Lady Bird Lake.
Austin Tech Week kicked off Monday, bringing together entrepreneurs, investors and technology leaders for five days of programming across the city.
The annual event, running Oct. 20-24, features more than 50 gatherings ranging from early-morning networking walks to pitch competitions and evening social events. Now in its second decade, Austin Tech Week is produced in partnership between Jacqueline Hughes, Joshua Baer and Capital Factory.
Highlights include the Seed + Series A Female Founder & Investor Dinner on Monday, sponsored by J.P. Morgan, and the Austin Venture Day on Tuesday, which will feature founders who have raised more than $100 million discussing the city’s tech ecosystem.
Wednesday’s programming includes a VC and founder panel on consumer innovation, while Thursday features MoFo Fall 2025 Pitch Day at Capital Factory and the comedy-infused “Your Startup Sucks” live pitch show.
The week concludes Friday with a Morning Reset gathering and White Collar Fight Night, where Austin professionals compete in boxing matches.
Many events require advance registration through Luma or other platforms. A complete schedule is available at austintech.com.
A groundbreaking collaboration between New Zealand’s Ngāi Tahu Research Centre, Texas-based genetic engineering company Colossal Biosciences, and filmmaker Sir Peter Jackson aims to bring back the extinct South Island Giant Moa through advanced de-extinction technology.
The initiative, announced Tuseday represents the first indigenous-coordinated de-extinction project and places Māori values and traditional ecological knowledge at the center of species restoration efforts.
The South Island Giant Moa, which stood up to 3.6 meters tall and weighed approximately 230 kilograms, went extinct about 600 years ago following Polynesian settlement. The flightless birds, comprising nine distinct species, played crucial ecological roles in New Zealand’s forests and grasslands for millions of years.
“Our earliest ancestors in this place lived alongside moa and our records, both archaeological and oral, contain knowledge about these birds and their environs,” said Kyle Davis, a Ngāi Tahu archaeologist who recently guided Colossal scientists to cave sites containing moa fossils.
The Ngāi Tahu Research Centre, established in 2011 at the University of Canterbury, will direct all aspects of the project. Professor Mike Stevens, the center’s director, noted that moa harvesting helped transform tropical East Polynesian explorers into subtropical South Polynesian Māori during the 14th and 15th centuries.
“The loss of moa, through over-harvesting and habitat modification, was a salutary lesson as to the New Zealand archipelago’s ‘fragile plenty,'” Stevens said.
Colossal Biosciences has committed significant investment to build biotechnology infrastructure in New Zealand and protect its unique biological heritage. The company will sequence and rebuild genomes for all nine moa species and develop conservation assessments for potential rewilding sites.
“This partnership represents a new model where indigenous leadership guides scientific endeavors,” said Ben Lamm, CEO and co-founder of Colossal Biosciences. “Traditional ecological knowledge and cultural context are essential to responsible de-extinction and species preservation efforts.”
The project will follow a phased approach beginning with expeditions to recover ancient DNA, followed by genomic analysis, gene identification, and development of reproductive technologies. All technology developed will be open-sourced and available for conservation purposes under Ngāi Tahu Research Centre direction.
Dr. Beth Shapiro, Colossal’s chief science officer, emphasized the scientific value of combining indigenous knowledge with genomic technology. “By studying ancient DNA, we can gain insights into how these keystone species shaped New Zealand’s unique biodiversity,” she said.
The partnership also includes plans for economic development through ecotourism ventures and educational programs that will create employment pathways for Māori researchers and educators.
Sir Peter Jackson, who helped bring the partners together, expressed enthusiasm about the mission. “With the recent resurrection of the dire wolf, Colossal has also made real the possibility of bringing back lost species,” Jackson said, referencing the company’s previous de-extinction work.
Paul Scofield, senior curator of natural history at Canterbury Museum and an adjunct professor at the University of Canterbury, called the initiative “an unprecedented opportunity to recreate lost taonga (treasured) moa species.”
Canterbury Museum holds the world’s largest collection of moa remains. The museum’s founder, Sir Julius von Haast, built this collection through extensive excavations and exchanges with overseas institutions.
The project has received financial support from Robert Nelsen, managing director of ARCH Venture Partners, who said supporting the initiative “just felt like one of those projects that needed the right collaboration to make happen.”
Beyond moa restoration, the partnership will establish a genetic repository of culturally significant plants and animals, creating what organizers call a new model for indigenous leadership in scientific innovation.
Research indicates moa populations were stable until human arrival, with extinction occurring within a century of Polynesian settlement. The rapid extinction represents one of the most well-documented examples of human impact on megafauna.
The collaboration extends longstanding Ngāi Tahu involvement in species protection and ecological restoration while building on the research center’s record of international partnerships.
In a groundbreaking scientific achievement, Colossal Biosciences announced Tuesday the successful birth of three dire wolves, marking the first-ever de-extinction of an animal species previously lost to time.
The dire wolf, extinct for over 12,500 years, was a large North American canid often associated with the fictional creatures from HBO’s “Game of Thrones.” According to Colossal, the rebirth represents a critical milestone in their de-extinction technologies and pathway toward reviving other extinct species.
“Our team took DNA from a 13,000-year-old tooth and a 72,000-year-old skull and made healthy dire wolf puppies,” said Colossal CEO Ben Lamm. “It was once said, ‘any sufficiently advanced technology is indistinguishable from magic.'”
The company’s achievement extends beyond the dire wolf, with scientists also successfully birthing two litters of cloned red wolves—North America’s most critically endangered wolf species—using a novel blood cloning approach.
The three dire wolf pups include two adolescent males named Romulus and Remus, and one female named Khaleesi. The red wolf litters consist of one adolescent female named Hope and three male puppies: Blaze, Cinder and Ash.
Harvard geneticist and Colossal co-founder Dr. George Church noted that the dire wolf project involved “the largest number of precise genomic edits in a healthy vertebrate so far,” with 20 unique precision germline edits, including 15 from ancient gene variants.
The wolves currently reside on a 2,000-acre ecological preserve certified by the American Humane Society and registered with the USDA. The facility features specialized engagement zones, redundant security measures and continuous monitoring to ensure animal welfare.
“The de-extinction of the dire wolf is more than a biological revival. Its birth symbolizes a reawakening – a return of an ancient spirit to the world,” said MHA Nation Tribal Chairman Mark Fox, highlighting the cultural significance of the achievement.
To accomplish the de-extinction, scientists extracted and sequenced ancient DNA from two dire wolf fossils, assembled ancient genomes, identified gene variants specific to dire wolves and performed multiplex gene editing to a donor genome from the gray wolf, the dire wolf’s closest living relative.
The company’s analysis revealed dire wolves had white coat color and thick fur, adaptations consistent with ice age conditions. Their research also showed gray wolves share 99.5% of their DNA with dire wolves.
Dr. Beth Shapiro, Colossal’s Chief Science Officer, said their approach “sets a new standard for paleogenome reconstruction” and established “the genomic foundation for de-extinction.”
The technology developed for the dire wolf project has immediate conservation applications, as demonstrated by the birth of two litters of red wolves. With fewer than 20 red wolves remaining in North America, Colossal’s red wolves could increase the number of founding lineages in the captive breeding population by 25%.
“Colossal is drastically changing the prognosis for countless endangered species around the world,” said Aurelia Skipwith, former Director of the U.S. Fish and Wildlife Service.
The company plans to eventually restore both species in secure ecological preserves, potentially on indigenous land.
