The Briefing: Lucid Motors Going Public Via SPAC, Serena Closes €300M Fund, And More
Summary
Newark, California-based Lucid, which makes luxury electric vehicles, plans to merge with Churchill Capital Corp IV, a SPAC that trades on the New York Stock Exchange under the ticker symbol CCIV. Investors include Alan Howard, present and former Goldman Sachs partners, FinTech Collective, NYDIG and Phil Doye. And, Singapore-based ErudiFi, a tech-enabled company providing access to affordable education financing in Southeast Asia, closed on a $5 million Series A round co-led by Monk’s Hill Ventures and Qualgro. The funding will be deployed in new hires across the company, to scale its education financing services, expand into Indonesia and the Philippines, and product development. Using AI and machine-learning technology, Maple builds daily and weekly personalized plans for parents, and over time, provides smarter recommendations based on their needs.