Hi ,
I have a special announcement to share with you:
Introducing the Automotive Ventures Investment Club (AVIC)
: the new
Automotive Ventures Investment Club
is off to a strong start, and we’re oversubscribed for the first investment offered to our members. If you’re interested in making small direct investments into AutoTech and mobility companies, learn more
and once ready click
to apply to join.
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:
Karmak has acquired
, the nation's leading dealer mobile app and digital solution provider for automotive, RV, powersports, equipment and heavy-duty truck dealerships. Financial details of the transaction were not disclosed. (
)
, a buy now pay later (BNPL) startup for vehicle repairs, has raised £26.1m in a Series A extension round in the form of a £20m debt facility. Bumper says it is bringing the BNPL model to the automotive industry by spreading out installments for vehicle repairs and other related services. (
)
Electrification & Alternative Fuels:
has raised $75 million of an anticipated $150 million financing round to fund construction of a lithium-ion battery factory in Arizona, betting the recently passed Inflation Reduction Act will boost demand for US-made cells. Siemens Financial Services led the round, which also included Quanta Services, Inc., Nidec Motor Corporation, Honeywell Ventures and Trog Hawley Capital LLC. (
)
filed for a new offering of up to $8 billion as the luxury electric-vehicle maker looks to beef up working capital at a time when supply snarls have crimped its production. (
)
Autonomy, Robotics & AI:
announced the close of a $46.5 million Series A funding to scale its advanced robotic technology and accelerate broad adoption of its regenerative and precision ag solutions. Lead investor Cleveland Avenue was joined by DCVC Bio, Future Ventures, SeaX Ventures and all existing investors, including Autotech Ventures, Cavallo Ventures, and AgFunder, making the series one of the largest investments in ag robotics to date. (
)
, a startup developing next-generation LIDAR technology for mobility and industrial applications, secured a €10 million ($10.5 million) extended series A funding round. (
)
Supply Chain & Logistics:
, a hardware company bringing powered trailers to the commercial trucking market, raised $8M in Seed funding. The round was led by UP.Partners, R7, and Yamaha Motor Ventures. Range Energy accelerates the electrification of commercial transportation via powered trailers for the truck market. (
)
closed a $4 million seed funding round led by Trucks Venture Capital. RailVision Analytics is developing in-cab technology for passenger and freight trains to drive efficiency and growth in the rail industry (
)
Vehicle Production & Assembly:
, the leading provider of advanced analytics solutions that leverage machine learning and artificial intelligence (ML/AI) to turn complex product data into actionable insights, has raised an $8M ($10.4M CAD) Series B round. BDC Capital’s Industrial Innovation and Thrive Venture Funds led the round, with participation from existing investors OMERS Ventures and StandUp Ventures. (
)
, an Australian manufacturer of carbon fiber wheels, is going public in the US by merging with a blank-check company Twin Ridge Capital Acquisition Corp. in a deal that values the business on a pro forma basis at about $270 million including debt. Its clients include Ford, Ferrari, GM and Renault. (
)
Micromobility:
is on a mission to put more electric bikes on Vietnam’s roads. The startup said today it has raised $8 million led by returning investor Singapore-based firm Jungle Ventures, just seven months after its first round of funding was announced. GSR Ventures and Delivery Hero Ventures also participated in this round, along with Wavemaker Partners and Innoven Capital SEA. The new round brings Dat Bike’s total raised to $16.5 million. (
)
U.K.-based electric two-wheeler manufacturer
is merging with blank-check company CIIG Capital Partners II to become publicly traded on the Nasdaq at a post-money valuation of $573 million. Zapp partnered up with a third-party manufacturing firm and says it now has the capacity to build up to 10,000 scooters next year and finally launch in European markets in 2023. (
)
Have a great week,
Steve Greenfield
678.576.9972
