Startups

Financially struggling Nikola Corp. wants shareholders to double the company’s authorized shares so it can pay its loans in stock.

Using the company’s platform, Repowr Connect, shippers, fleets and 3PLs can share their available assets with other network members, helping parties find on-demand capacity.

“We are looking to empower these independent contractors and truly treat them as owners of their businesses,” Luke Denny, co-founder and CEO, told FreightWaves.

Proterra Inc. and Ouster Inc. are just two of many technology startups and growth-stage companies struggling financially.

Kodiak Robotics was shooting for easier maintenance of its autonomous trucks but it made them appear more normal in the process.

Nikola Corp. wants to raise $100 million through a public stock offering. Dilution-fearing investors drove shares to an all-time low.

Settling multiple distractions surrounding TuSimple was Cheng Lu’s priority when he returned as CEO in November.

It’s been three months since TuSimple fired a quarter of its workforce. Three of those who survived the cuts talked with FreightWaves.

Even with multiple investigations to close, TuSimple has three years worth of money to run its autonomous trucking business.

“[Navix] understands their customers’ problems, the value proposition and how to apply the technology to solve them,” said Rob Estes, chairman and CEO of Estes Express Lines.