Hi ,
I have a couple of special announcements to share with you:
Automotive Ventures Investment Club (AVIC) Presents First Investment Opportunity
: The AVIC is an exclusive group of accredited investors who have an interest in investing in early-stage automotive and mobility startups. We’re excited to have
our first deal open for investment this week
, click
to apply to join the Club to learn more about the opportunity.
Automotive Ventures Adds Chip Perry as Operating Partner:
No one has been as instrumental to my career as Chip Perry. It feels like coming full circle to now have a chance to work with him to build the preeminent automotive and mobility early-stage venture capital fund under the Automotive Ventures brand. (
)
We're excited for the upcoming NAVICON on Thursday, November 17th, 2022 (More info
)
Here are the past week's AutoTech and Mobility transactions. For a more detailed monthly recap, check out our
. Enjoy!
Last Week's Auto-Tech Transactions:
Dealer Tech & Auto Commerce:
, the digital customer data and experience platform for the automotive industry that transforms the way cars are sold, announced a $40 million growth round of financing led by Riverwood Capital with the participation of existing investors. AutoLeadStar is the leading provider of AI-powered marketing automation technology to auto-dealerships and manufacturers, enabling personalized marketing, digital commerce, and consumer engagement that informs and executes millions of decisions a day. (
)
, which in 2021 transferred its Canadian operations to the United States and parted ways with its Canadian president, is selling the majority of its Canadian division to Trader Corp, the parent of AutoTrader.ca. The Canadian operations of
, Kelley Blue Book, as well as dealership software providers Dealertrack, Digital Retailing, VinSolutions and XTime will transition over the coming months to Trader. (
)
Ritchie Bros. Auctioneers (America), Inc. (NYSE: RBA) (TSX: RBA), and
(NYSE: IAA), announced that they have entered into a definitive agreement under which Ritchie Bros. will acquire IAA in a stock and cash transaction valued at approximately $7.3 billion including the assumption of $1.0 billion of net debt. The transaction has the unanimous support of both boards of directors. (
)
has raised US$1.2 million as it prepares for its arrival in Mexico. The Chilean firm -which allows you to buy a used vehicle with digital payment and promises to eliminate the risk of fraud- raised the necessary capital to accelerate its expansion into the Mexican market. (
)
Electrification & Alternative Fuels:
has successfully completed an internal round of financing led by Mercuria and co-led by Ventura Capital and Green Gateway Fund. The $50 million Series C financing will be used to expand the company’s leading market position in the field of electric vehicle smart charging and vehicle-to-grid (V2G) integration across Europe, North America and Asia. (
)
, a Los Angeles, CA-based provider of energy management solutions for e-mobility, closed a Series A investment round of $17.25m. Backers included Ecosystem Integrity Fund and Helios Climate Ventures. The company intends to use the funds to accelerate the development of its Connected Energy Management Platform in e-mobility applications. (
)
Foxconn, the world's biggest contract electronics maker, has extended its drive into electric vehicle (EV) business with a deal to take a near-20% stake in loss-making U.S. electric truck maker
(RIDE.O) for up to $170 million. (
)
, a Los Angeles, CA and New York-based company providing electric vehicle (EV) charging solutions, raised $40M in Series B funding. Xeal offers multifamily and commercial real estate owners and operators the ability to install smart EV charging in their communities with little to no infrastructure upgrades. (
)
Autonomy, Robotics & AI:
Lidar companies
and
plan to merge. The two companies signed a merger agreement Friday. Existing Velodyne and Ouster shareholders would each own about 50 percent of the combined company under terms of the "merger of equals" agreement, which is expected to close in the first half of 2023. (
)
, a leader in autonomous low-speed vehicles for transporting people and goods, has closed equity investment funding of $6.5 million. Investors include zohar zisapel, a leader in automotive industry investments and chairman of the company, and Mobilion Ventures, the early-stage venture capital fund that invests in smart mobility. (
)
Shared Mobility & Subscription:
Volkswagen AG’s electric car-sharing service
was acquired by MILES Mobility. WeShare will be integrated into Miles’ customer offering. Both sides have agreed not to disclose the purchase price. (
)
, the San Francisco-based startup that offers a delivery and pick-up service for car rentals, has closed a $60 million Series B round led by InterAlpen Partners. This round brings Kyte’s total funding to approximately $300 million across equity and debt. (
)
Supply Chain & Logistics:
, a mobilty-focused startup, has raised $8 million in a financing round that has been led by Nazca Ventures. Founded in 2017, the company has developed an operating system that manages to make fleets more efficient, in addition to centralizing all the data generated by vehicles and offering complete control over them. (
)
Have a great week,
Steve Greenfield
678.576.9972
