Hi
,
Here are the past week's AutoTech and Mobility transactions. For a more detailed monthly recap, check out our
. Enjoy!
First, a Special Announcement:
Automotive Ventures is honored to be working with Shell on the "
" which will award grants to top early-stage automotive technology startups that are innovating in the areas of mobility, customer experience, net-zero emissions and new energies. Interested pre-seed and seed-stage automotive technology startups can apply
.
Last Week's Auto-Tech Transactions:
Dealer Tech & Auto Commerce:
Singapore-based automotive marketplace
has raised a $5 million funding round from Malaysia-based car distributor Edaran Otomobil Nasional Berhad (EON) and an additional $2 million from Summer Consensus Holdings. (
)
Vehicle Connectivity:
Ford Motor Company and ADT are preparing to invest $100 million in a joint venture launching in early 2023 that will protect both cargo and valuables stored in both commercial and private vehicles, first with aftermarket accessories and later with systems integrated into new vehicles. The new JV, called
, will combine ADT’s professional security monitoring and Ford’s video camera technology to protect Ford vehicles and, eventually, those of other automakers. (
)
In the race to appify automobiles,
is speeding ahead. The company has raised $24 million in a Series B funding round led by Energize Ventures and existing investors, Andreessen Horowitz and New Enterprise Associates (NEA). (
)
Commercial Vehicle Tech & Logistics:
, a company founded by three former SpaceX engineers to build autonomous battery-electric rail vehicles, came out of stealth mode on Wednesday with a $49.55 million Series A raise. The company, which has raised $53.15 million to date, including a $3.6 million seed round, is working to create a more efficient, decarbonized freight network that flows on top of existing railway infrastructure. (
)
Electrification:
Start-up
has raised $200 million to help fund further development and commercialization of its advanced solid-state battery for EVs. Automakers Stellantis and Daimler Truck AG's Mercedes-Benz AG led the round for three-year-old Factorial, based outside Boston. (
)
Copenhagen-based electric vehicle charging services platform
has raised €15 million in a Series A funding round, led by CREANDUM with Headline also providing a sizeable contribution. (
)
Autonomy:
British self-driving technology startup
has raised $200 million from investors to scale up its autonomous driving technology globally and launch more pilot projects with commercial fleet partners. (
)
is a hybrid autonomy and tele-assist service startup that turns tractors and other equipment into autonomous machines to provide a low-cost, technology-enabled labor force for local farms to manage such equipment. The company has completed a $5 million seed extension round that included Grit Ventures, GV, Village Global, Toyota Ventures, Flybridge, @Hampton VC, E²JDJ and Momenta. (
)
, the leading provider of remote operation software for logistics vehicles, announced a strategic investment of $42M led by ArcBest, a multi-billion dollar freight and logistics service provider, and NFI, one of the largest third-party logistics providers in North America. (
)
Many thanks,
Steve Greenfield
678.576.9972
