Nevada-based Redwood employees around 1,200 employees, so the cuts affect a few dozen workers. The company, founded in 2017 by former Tesla CTO JB Straubel, initially focused on recycling scrap from battery cell production, consumer electronics, and used EV batteries. The company extracts materials like cobalt, nickel, and lithium from those discarded goods and then sells them back to its customers, which includes Panasonic. Redwood has since added cathode production.
Supabase, the open source Postgres development platform, has raised $100 million in Series E funding at a $5 billion valuation, co-led by Accel and Peak XV, with participation from Figma Ventures and other existing backers. The round comes just four months after Supabase's Series D, bringing its total funding to more than $500 million. As part of the raise, Supabase will set aside a community allocation, giving its developer base the opportunity to co-invest alongside institutional
The Silicon Valley startup announced Thursday that several investors, including existing backer Baillie Gifford, added another $97 million to its Series E round. New investors include Icehouse Ventures, Kindred Ventures, Nvidia, and Pledge Ventures. Uber, which last month said it would make a "multi-hundred-million dollar" investment in Nuro as part of a broader deal with the electric car maker Lucid, also participated.