Polygon, an India-based startup seeking to improve the Ethereum network, raised $450 million in a funding round led by Sequoia Capital India. SoftBank Vision Fund 2, Tiger Global Management, and Seven Seven Six, the venture firm set up by Reddit co-founder Alexis Ohanian, also participated. To raise the funds, Polygon privately sold MATIC tokens instead of issuing equity. As of Monday...
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The Electric electric vehicles
The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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