Luxury electric car company Karma is in talks with investment banks to help it go public, company officials told dot.LA.

Karma is hoping to ride the Tesla wave of success and capitalize on the soaring valuations of its competitors.

"We want to take advantage of the fact that the market is red hot right now, so we want to be fast," said Mikael Elley, chief of staff at Karma Automotive.

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Swoop is hoping to do for group transportation what Quickbooks did for accounting.

The platform service that tracks jobs for bus and limo drivers and their passengers just scored a $3.2 million seed round led by Signa Venture Partners, South Park Commons and other angel investors.

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Luxury electric carmaker Karma has found a lifeline with $100 million in new funding as the company and its parent look to cash in on the popularity of Tesla in order to raise $300 million, Bloomberg reported.

The Chinese-owned company formerly known as Fisker Automotive has struggled to break out in the capital-intensive world of carmaking. Owned by auto-supplier Wanxiang Group, which bought the company in 2014, Karma is selling stakes to private equity partners, according to the report. By raising cash from U.S. investors, Karma officials aim to reduce Chinese ownership below 50%, making it easier to win government fleet contracts.

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