## Pony.ai's Future Plans

Pony.ai, a newly listed **robotaxi startup**, is making significant strides in the **driverless car** industry. The company has set an ambitious goal to **quadruple its fleet** by 2025. This expansion is expected to cater to the growing demand for **self-driving services** in major cities across China.

### Expansion of Services

As part of its growth strategy, Pony.ai predicts that **big cities** will extend their boundaries to accommodate the increasing presence of autonomous vehicles. This move is anticipated to enhance accessibility and convenience for urban commuters.

### The Road Ahead

The company is confident that the technological advancements and regulatory changes will pave the way for **more affordable** and widely available driverless cars, transforming the landscape of urban transportation in China.

With its forward-thinking approach, Pony.ai is poised to lead the charge in revolutionizing the **mobility sector** in the coming years.

Newly listed group plans to quadruple fleet and predicts big cities will extend boundaries for self-driving services

Pony.ai's Ambitious Vision: Cheaper Driverless Cars on China's Roads by 2025

### Slow Ventures on the Rise

**Slow Ventures**, an early-stage venture capital firm with bases in **New York**, **San Francisco**, and **Boston**, is currently in the process of raising **$275 million** across two new funds: a **$165 million fund VI** and a **$110 million opportunity fund**. This information comes from two regulatory filings submitted to the **U.S. Securities and Exchange Commission** on Tuesday.

Both filings reveal that Slow Ventures has not yet secured funds for either vehicle, potentially excluding prior commitments from their limited partners. Founded in **2009** by **Dave Morin**, a former Facebook employee, Slow Ventures has expanded its team to include former Facebook executives **Sam Lessin** and **Kevin Colleran**. 

### Investment Portfolio

Slow Ventures has a diverse investment portfolio, focusing on sectors such as **consumer**, **fintech**, and **crypto**. Some of their top investments include **Robinhood**, **Nextdoor**, **Pinterest**, and the cryptocurrency **Solana**. 

### Management Team Dynamics

The firm is distinguished by its management team. **Sam Lessin**, who was a classmate of **Mark Zuckerberg** at Harvard, joined Facebook after his startup **Drop** was acquired. **Kevin Colleran** was one of the first employees at Facebook, working in advertising sales before moving to venture capital. **Will Quist**, who joined in **2015**, previously worked at **Industry Ventures**. They adopt a generalist investment strategy, emphasizing quality over speed with the motto, **“Big things take time.”**

### Nontraditional Approaches

Slow Ventures has embraced nontraditional investment methods, including direct investments in cryptocurrency. They made an early investment in **Solana**, acquiring coins at **$0.05** each, which have since risen to around **$215**. The firm has also experimented with **decentralized autonomous organizations (DAOs)** to purchase land and has engaged in a controversial strategy of investing in individuals' careers for a share of their future earnings.

Recently, Lessin has also made headlines for his attempt to join **Harvard’s Board of Overseers**, although his campaign did not succeed despite an endorsement from Zuckerberg.


The early-stage fund based in New York, San Francisco, and Boston is run by Kevin Colleran, Sam Lessin, and Will Quist.

Slow Ventures Targets $275 Million in New Funds: A Look at Their Unique Investment Strategy

### Greentown Labs Secures Major Funding

Greentown Labs, a **Somerville-based clean-tech incubator**, has successfully secured **over $4 million** in funding, marking its first new round since becoming a nonprofit organization. This crucial financial support is aimed at propelling Greentown into its next growth phase, extending beyond its existing hubs in **Somerville** and **Houston**.

The funding comes from a diverse array of contributors, including:
- **MassDevelopment**: Over **$1 million** in grant funds.
- **City of Somerville**: A **$500,000** loan.
- **Rice University**: A **$500,000** loan plus a grant exceeding **$1 million**.
- A group of Texas energy sector investors led by **Bobby Tudor** and **David Baldwin**, contributing another **$1 million** grant.

### A Tumultuous Journey

This funding round caps a **challenging two years** for Greentown Labs, which positions itself as the **largest climate-tech incubator in North America**. The organization is set to appoint its **fifth chief executive** since the departure of **Emily Reichert** in late 2022. In early 2023, Greentown transitioned to **501c3 status** to explore new revenue streams, including **philanthropic funding** to support its **$15 million** annual budget. Despite facing scrutiny from climate activists for receiving funds from **Saudi Aramco**, Greentown has continued to attract support from various oil companies.

### Current Operations

Currently, Greentown hosts **140 clean-tech startups** in Boston and **75 in Houston**. While these startups pay rent, approximately **two-thirds** of Greentown's budget is funded by corporate partners, known as **“terawatt partners”**, who benefit from close access to innovative entrepreneurs.

Interim CEO **Kevin Dutt** emphasized that the new funds are intended to help Greentown reach climate-tech entrepreneurs beyond its physical locations, aiming to expand its impact significantly. He acknowledged the organization’s **high success rate** and the strong interest in growth beyond their traditional bases.

### Boardroom Shakeup

The funding has also led to a **shakeup in the boardroom**, with new members joining from both Boston and Houston. Notable returning members include co-founder **Jason Hanna** and **John Hitt**, while **Tudor** will chair the board. New board members with Boston connections include:
- **Bill Aulet** (MIT entrepreneurship professor)
- **Georgina Campbell Flatter** (executive director of TomorrowNow)
- **Juan Carlos Morales** (founder of Surfside Capital Advisors)
- **Pam Reeve** (former Lightbridge CEO)

### Looking Ahead

Greentown Labs has evolved significantly since **Reichert** joined as its first employee over a decade ago. Dutt, who plans to pass the leadership to a new CEO in January, expressed optimism that this recapitalization will foster further growth, stating, **“This is really about a reaffirmation of the strength and success of the organization.”**

For more insights, connect with **Jon Chesto** at [jon.chesto@globe.com](mailto:jon.chesto@globe.com) or follow him on [Twitter](https://www.twitter.com/jonchesto).

The Somerville-based clean-tech incubator has landed some much-needed financing.

Greentown Labs Secures $4 Million Funding Boost for Climate Tech Expansion

## **Plume's Innovative Blockchain**  
Plume’s blockchain is designed to **transform investments and trading** in real-world assets by offering a seamless platform for users. As traditional financial institutions explore ways to integrate **cryptocurrencies**, the interest in **tokenization** is rapidly growing, creating digital representations of tangible assets.

## **Recent Funding Success**  
Recently, Plume closed a **$20 million investment round** led by prominent firms including **Brevan Howard Digital**, **Haun Ventures**, **Lightspeed Faction**, and **Galaxy Ventures**. This brings the total funding to **$30 million**.  
The company’s co-founder and CEO **Chris Yin** stated that their goal is to build the first **real-world asset finance ecosystem**, or **RWAfi**.

## **Blockchain Features**  
Yin emphasizes that Plume will provide infrastructure for developers to offer **RWA financing**. Unlike existing blockchains like Ethereum, Plume focuses specifically on **real-world asset tokenization**, aiming to attract a community of **crypto-native users** before branching into traditional finance.  
Users will interact with Plume’s blockchain in three key ways:  
1. **Earn returns** on tokenized assets such as T-bills.  
2. Trade real-world collectibles by verifying **authenticity**.  
3. Bet on events or asset prices using real-world data.

## **Growing Ecosystem**  
With **180 projects** already in development on Plume’s infrastructure, including the decentralized credit platform **Credbull**, the company is poised for growth. Credbull is set to roll out a **fixed yield credit facility** on the Plume blockchain.  
While developers can start building now, users must wait until early next year for access.

## **Future Plans**  
Plume aims to use the latest funding to broaden its reach from **crypto-native users** to **traditional financial firms** and asset managers, facilitating easier customization for developers. Yin asserts that this ecosystem allows for extensive connectivity, enabling users to **borrow, lend, and interact globally** in ways that were previously unattainable.

Plume’s blockchain lets users invest and trade in tokenized real-world assets.

Plume Secures $20 Million to Revolutionize Real-World Asset Tokenization with Blockchain

**Sam Altman**, known for his leadership in tech innovation, is making waves in the energy sector. His nuclear startup has recently **signed a significant deal** for an **AI-powered energy supply**. This partnership highlights the growing trend of collaboration between **energy developers** and the **technology industry**, particularly amid the increasing demand for sustainable energy solutions. The implications of this contract could reshape how energy is produced and consumed, paving the way for a new era of **clean energy technology**.

Contract is the latest between energy developers and technology industry amid soaring demand

Nuclear Startup's Game-Changing AI Power Supply Deal Led by Sam Altman

### The Rise of SpaceX

Last week, **Elon Musk’s SpaceX** made headlines as it skyrocketed in value, reaching a new high of **$350 billion**. With **Donald Trump** preparing to return to the White House, Musk’s proximity to the incoming president has kept his companies in the spotlight, driving significant growth for **Tesla stock** (TSLA).

And while SpaceX is still a privately held company, its value has surged **67%** since June 2024, dominating the space exploration field.

### A New Opportunity for Retail Investors

Until recently, retail investors haven’t had the chance to gain exposure to private companies like SpaceX and **OpenAI**, the maker of ChatGPT, which remains one of the trendiest names in tech. However, a fintech company is now offering individuals the opportunity to invest in these popular tech names before they go public.

### Retail Investor Interest

Recent data shows that retail investors are eager to invest in private companies. A survey by **SoFi Technologies** (SOFI) of **5,000 retail investors** revealed that over **87%** expressed interest in investing in privately held companies. When asked which private companies they most want to invest in, respondents ranked **SpaceX**, **OpenAI**, and **Epic Games** as the top three.

### SoFi's New Investment Opportunities

On December 4, 2024, SoFi announced that through its relationship with investment firm **Templum**, it is offering accredited investors access to **The Cosmos Fund**, a special purpose vehicle that provides exposure to SpaceX. They also expanded access to the **Pomona Investment Fund** and **StepStone Private Markets Fund**, which offer access to high-profile alternative assets, although not specifically to SpaceX.

Investors can access these funds via **Templum One**, Templum’s global ecosystem that connects private and alternative market issuers with investors. However, to invest in these funds, including the Cosmos Fund, individuals must meet specific criteria set by SoFi.

### Understanding Private Investments

A spokesperson from Templum provided insight into private market investing, stating, “**Private investments are usually illiquid**, meaning they can’t be easily sold or traded. Investors often hold these assets for years, targeting higher returns in exchange for reduced liquidity.”

Retail investor access to popular private companies is increasing.

Investing in the Stars: How a Fintech Startup is Opening Doors to SpaceX and More

### Space One's Setback in Satellite Launch

Tokyo-based startup **Space One** faced another setback in its quest to become the first private Japanese company to successfully place a satellite into orbit, as their **Kairos No. 2 rocket** launch ended in failure on Wednesday. This launch was critical for Japan's aspirations in space development.

The **18-meter**, **23-ton solid-fuel rocket** was launched from a newly established space facility in **Kushimoto, Wakayama Prefecture** at around 11 a.m. Unfortunately, a malfunction occurred during ascent, leading to the launch's failure. Space One is currently investigating the details surrounding this incident.

### Previous Delays and Failures

This failure follows a series of challenges, including two postponements due to strong winds. The initial launch was scheduled for Saturday, but weather conditions forced delays. The rocket was designed to carry five small satellites, including payloads from **Taiwan's space agency**, a **Kyoto-based startup**, and even **high school students** from **Hiroo Gakuen in Tokyo**.

![The rocket trail of Space One's Kairos No. 2 rocket](https://www.japantimes.co.jp/japantimes/uploads/images/2024/12/18/440962.jpg)

### Features of the Kairos Rocket

A standout feature of the **Kairos rocket** is its **"autonomous flight safety system"**, which tracks the flight path, speed, and rocket condition. If any abnormalities are detected, the system can interrupt the flight and initiate a self-destruction mechanism to prevent deviations from the planned range. This marks it as the first Japanese rocket to incorporate such a feature.

Despite being smaller than Japan's next-generation flagship **Epsilon S rocket**, the Kairos is designed for **lower costs** and **quicker launch preparations**.

### Previous Launch Failure

In March, the **Kairos No. 1 rocket** also failed, exploding just five seconds after liftoff due to issues with its first stage, which led to the activation of the autonomous safety system. The startup had aimed to conduct its first launch in April 2021 but faced multiple delays due to supply chain issues exacerbated by the **COVID-19 pandemic** and **Russia's invasion of Ukraine**.

Space One was again bidding to become the first private Japanese company to place a satellite into orbit.

Space One's Ambitious Satellite Launch Attempt Fails Again: What's Next for Japan's Private Space Sector?

### Grammarly Acquires Coda

Grammarly has announced its strategic acquisition of **Coda**, a productivity startup, marking a significant shift in the AI productivity landscape. Coda’s co-founder and CEO, **Shishir Mehrotra**, will step in as the new CEO of Grammarly, succeeding **Rahul Roy-Chowdhury**, who will continue as an adviser.

### Enhancing AI Capabilities

The acquisition aims to transform Grammarly’s AI assistant into an **“AI productivity platform.”** With Coda’s innovative AI tools, Grammarly plans to introduce new features like **generative AI chat** and a comprehensive productivity suite, enabling users to work more efficiently.

Mehrotra, a seasoned tech veteran with a history as YouTube's chief product officer and chief technology officer, envisions a smarter assistant that integrates seamlessly with various systems, enhancing user experience across platforms.

### Future Developments

Coda’s flagship product, **Coda Docs**, will also be integrated with the Grammarly Assistant, allowing for an enriched user interaction. Mehrotra expressed ambitions to merge the best features of both companies, creating a platform that combines company knowledge, generative AI chat, and numerous productivity tools to redefine how we work in the AI age.

### Company Background

Founded in **2009**, Grammarly boasts **40 million active users** and is currently valued at **$13 billion**. Coda, valued at **$1.4 billion**, previously raised funds through a successful **Series D round**. This acquisition positions Grammarly to enhance its competitive edge against other AI-driven writing and productivity tools in the market.

Grammarly is acquiring productivity startup Coda, the company announced on Tuesday.

Pony.ai's Ambitious Vision: Cheaper Driverless Cars on China's Roads by 2025

Summary:

Pony.ai's Future Plans

Expansion of Services

The Road Ahead

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Other Latest News

Slow Ventures Targets $275 Million in New Funds: A Look at Their Unique Investment Strategy

Greentown Labs Secures $4 Million Funding Boost for Climate Tech Expansion

Plume Secures $20 Million to Revolutionize Real-World Asset Tokenization with Blockchain

Nuclear Startup's Game-Changing AI Power Supply Deal Led by Sam Altman

Investing in the Stars: How a Fintech Startup is Opening Doors to SpaceX and More

Space One's Ambitious Satellite Launch Attempt Fails Again: What's Next for Japan's Private Space Sector?

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Other Latest News

Slow Ventures Targets $275 Million in New Funds: A Look at Their Unique Investment Strategy

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Plume Secures $20 Million to Revolutionize Real-World Asset Tokenization with Blockchain

Nuclear Startup's Game-Changing AI Power Supply Deal Led by Sam Altman

Investing in the Stars: How a Fintech Startup is Opening Doors to SpaceX and More

Space One's Ambitious Satellite Launch Attempt Fails Again: What's Next for Japan's Private Space Sector?

Grammarly's Bold Move: Acquiring Coda to Revolutionize AI Productivity