Hi ,
I have a special announcement to share with you:
Introducing the Automotive Ventures Investment Club (AVIC)
: Our goal is to democratize access to invest in early-stage AutoTech and Mobility startups for all industry participants. We do all of the heavy lifting for you. Minimum investments range from $2,000 - $15,000 per deal. Learn more about the AVIC
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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:
AutoNation announced its acquisition of a 6.1% minority ownership stake in
. for an undisclosed amount. The auto retailer said its decision to invest in TrueCar signals its continued commitment to emerging technologies and its constant focus on providing peerless customer experiences. (
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Electrification & Alternative Fuels:
, a commercial electric mobility tech platform based in India, has raised $2.5 million from JSW Ventures. (
)
could receive up to a $350 million lifeline to help launch its first vehicle, according to a regulatory filing. The company said Monday it has signed a deal with an affiliate of Yorkville Advisors Global for an equity line of credit up to $350 million. (
)
is announcing a $35 million Series B led by Salesforce Ventures, with participation from new investors Activate Capital, Emerson Collective, Collaborative Fund, and MCJ Collective. WeaveGrid's enterprise SaaS serves as a platform integrating data from utilities, automakers, and drivers to help utilities manage the load that EVs place on the grid. (
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, a company working to introduce electric buses into Kenya, has announced $6.6 mn in new funding, enabling the company to start delivering locally assembled electric buses and charging infrastructure through its Pay-As-You-Drive financing model. (
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Berlin-based e-mobility startup
announced a €32.2 million financing close incorporating €6.2 million in seed money as well as €25 million of debt. JUCR's existing charging network, branded Europe's "densest charging network for electric cars," has 333,000 charging points. (
)
, one of the most prominent and rapidly expanding public charging network developers across the Baltics and Poland, has raised capital in a Series A financing round from Gren, a Northern European green energy company owned by Partners Group. (
)
Autonomy, Robotics & AI:
has announced a $26 million Series A raise led by Ranpak, JS CAPITAL, Schusterman Family Investments (SFI), Soros Capital Management and Catapult Ventures. Pickle creates robots that work alongside people in the very messy world of the loading dock, reducing the backbreaking human effort that goes into getting your online orders to your door. (
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, an autonomous mobility systems provider, announced the issue of the 3rd tranche of convertible bonds into shares with warrants for an amount of €2.0 million. (
)
Goodyear Ventures is investing in
, supporting their journey to build the next generation of scalable AI technology for autonomous driving and robotics. (
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Stellantis has agreed to buy
, a developer of advanced artificial intelligence and autonomous vehicle driving software, to advance its technology development efforts. (
)
, a leader in autonomous low-speed vehicles for transporting people and goods, has closed equity investment funding of $6.5 million. (
)
China’s autonomous driving startup
announced on November 9 the completion of its latest financing round, which raised the company nearly one hundred million yuan. The fresh round was led by Min Yin International Investment, and also attracted JueFX’s existing shareholder Hygoal Capital, and several other organizations. (
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Shared Mobility & Subscription:
Montréal-based intercity ground travel marketplace
has acquired Toronto’s
to bring a reservation and ticketing management platform to its network of transportation partners. (
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Supply Chain & Logistics:
, a matchmaking site for truckers and jobs aiming to solve driver shortage raises $4.4M (
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Air mobility & Space:
Elon Musk’s
is in talks to raise a funding round that values the rocket launch and satellite company at more than $150 billion, people familiar with the matter said. The transaction being discussed represents a jump from the $125 billion valuation the company commanded earlier this year. Terms including the price haven’t been finalized and could still change. (
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Electric aviation and regional air travel company
said on Wednesday it had confidentially filed for a direct listing in the United States after terminating its $1.42 billion merger deal with a blank check firm. (
)
Vehicle Production & Assembly:
, a global mobility tech company, today announced that the Company has entered into an agreement with SPDB International and CNCB (Hong Kong) Investment Limited for $65 million of convertible senior notes due 2025. (
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BorgWarner has entered into a partnership with
that will allow the auto supplier to purchase up to $650 million of silicon carbide devices annually as it ramps up its electrification business. In exchange, BorgWarner agreed to invest $500 million into North Carolina-based Wolfspeed. (
)
China's Kasco, also known as
, a producer of vehicle air suspension systems, has raised 510 million yuan ($72.4 million) in a Series B funding round. (
)
Vehicle Connectivity:
in apparently in talks to merge with UK auto-tech rival
. The two auto-tech companies, which began publicly trading after SPAC mergers last year, and have since lost most of their value, could be set for a merger. (
)
Have a great week,
Steve Greenfield
678.576.9972
