Slate Auto closed a $650 million Series C to advance production of its budget electric pickup truck, priced to start in the mid-$20,000s, with first deliveries targeted for later this year. The round was led by TWG Global, the vehicle for Mark Walter, Guggenheim Partners founder and Los Angeles Dodgers owner, and financier Thomas Tull. Slate did not disclose the full investor roster or a new valuation, though the company was last valued at $1.2 billion as of January 2025, suggesting the raise likely repriced that figure upward. The Jeff Bezos-backed startup spun out of Re:Build Manufacturing last year; both Walter and Tull were prior investors in that parent entity, indicating the round drew heavily on an existing network rather than new institutional capital. The affordable-EV segment has struggled with margin compression and production risk, so the mid-$20,000 price point will be the key operational test: whether Slate can maintain unit economics at that entry price while scaling from a standing start.
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.
