Nuro, the autonomous vehicle delivery startup backed by SoftBank, Google and Tiger Global Management, is laying off about 300 people, or 20% of its workforce, in an effort to preserve cash amid a stormy economic outlook, according to an email sent to employees this morning. Several Nuro employees also posted on Twitter and LinkedIn this morning that they had been affected by the layoffs. In the email viewed by TechCrunch, co-founders Jiajun Zhu and Dave Ferguson informed employees they would receive an update later this morning letting them know if they are impacted by this layoff and with information on next steps. Each and every one of you have made important contributions to this company, and saying goodbye to talented Nurons is not a decision we have taken lightly. For those of you leaving Nuro, we are very sorry for this outcome -- this is not the experience we wanted to create for you.

The insurance industry was at a standstill before the development of insurtech – now the field has been revolutionised, with old insurance companies having to digitise or fear being left behind. Founded: New York, NY – 2015. Lemonade is a provider of a peer-to-peer insurance platform designed for renters and homeowners. It is powered by artificial intelligence and behavioral economics and utilizes bots and machine learning to create an insurance experience. However, as of April 2021, Lemonade has announced its plans to branch out into other insurance lanes as it aims to be a one-stop-shop.