FTX victims get some money back, acquisitions are heating up | Equity Podcast

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Funding

FTX crypto fraud victims are getting their initial dollar equivalent back plus interest, totaling between $145 billion and $16.3 billion in cash.
A May Health, a startup providing in-person comprehensive mental healthcare services, has raised a $15 million Series A led by Quiet Capital and Tunch.
Hyundai has invested $1 billion in Motional, an autonomous vehicle startup, to keep it afloat after its former partner Aptive backed out of the joint venture.

Motional is ceasing all commercial operations, including ride-hailing services and partnerships with Uber and Uber Eats, and pushing back its plans to launch a fully driverless service to 2026.
Companies are delaying the launch of autonomous vehicles due to high costs and technological challenges.
Hyundai, which owns Boston Dynamics, is focusing on core technology and robotics rather than commercializing autonomous vehicles.
Lucid Bots, a North Carolina-based company, has shifted from developing drones for cleaning windows to creating robots for industrial applications such as pressure washing.
Autonomous vehicle startups that went bust are reimagining their focus on industrial applications, which are more profitable.

Mercury, a startup bank, is expanding into personal banking and launching software for business banking accounts, competing with companies like Brex and Ramp.
Mercury, a startup bank, is introducing a subscription fee for customers who use their software, ranging from $35 to $350 per month.
B2B fintech companies are expanding into bill pay and offering more accounts to increase deposits and money flow through their platforms.
Mercury claims to have over 200,000 customers sending $4 billion in outgoing payments monthly and is looking to maintain competitiveness through pricing or additional services.

Recent M&A activity includes DocuSign acquiring Lexian, Samsung acquiring Sonio, and Amai acquiring Noname.
The Noname deal is notable as it sold for less than half of its valuation in late 2021, reflecting the correction of exuberant valuations during that period.
DocuSign's acquisition of Lexian for $165 million is seen as a strategic move to diversify its offerings and integrate contract workflow automation with its e-signature platform.

Alex Wilhelm, a long-time host of the Equity podcast, is leaving TechCrunch and will no longer be part of the show.
Becca Scac, the host of the sister show Found, will be taking over as the host of Equity.
Equity will be back with a new episode on Monday.