Slate Auto has closed a $650 million funding round, the company announced Monday, accelerating its path to production of an entry-level electric pickup. The raise positions the Michigan-based startup as one of the better-capitalized new EV entrants, arriving at a moment when several rivals have stumbled or pivoted. Founded in 2022, Slate is targeting a segment the broader EV industry has largely avoided: mass-market affordability. Its Slate Truck is priced to open in the mid-$20,000s, which would match or undercut the Ford Maverick XL, currently the least expensive new pickup available in the US. The original sub-$20,000 target depended on the federal clean vehicle tax credit, which has since been eliminated, raising the floor but not eliminating the competitive price advantage. The mechanism here is straightforward: by anchoring on price rather than premium features, Slate is competing on a dimension where legacy automakers have shown little appetite to defend. Watch whether production timeline disclosures follow this raise, and how Ford responds on Maverick pricing as a direct competitive benchmark.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
