Too many robots for Elon Musk;SpaceX worth $25 billion; Fika Ventures pours $8 million into PullRequest
During Elon Musk’s segment on "CBS This Morning," which included a look inside Tesla's factory in Fremont, Calif., where the company makes the Model 3, Musk said he agreed with critics who say the company is too reliant on automation, Business Insider reports. In the past, Musk said using robots to build Tesla cars would make the process more efficient and less expensive. But now Musk admitted a "crazy, complex network of conveyor belts” was slowing the process.
Speaking of Elon Musk, SpaceX is raising $507 million in a funding round that will value Elon Musk’s rocket company at $25 billion, according to data from PitchBook, Fortune reports. This would make SpaceX one of the most valuable venture-backed private tech companies, behind just Uber and Airbnb.
Fika Ventures, a newer Los Angeles-based venture fund run by Tx Zhou, Eva Ho and Arteen Arabshahi, announced they will invest $8 million into Austin-based PullRequest. This is a significant investment for the $40 million dollar fund. PullRequest is a service that does third-party consulting for companies on their coding.
Technology reporter Eli Horowitz can be reached at email@example.com. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.