Hi
,
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:
Cars.com has agreed to buy
, Galves Market Data and MADE Logistics for $65 million cash. The deal is expected to close in about 30 days and it will pay an earn-out of up to $63 million dollars based on performance. The purchase gives Cars.com the technology needed to facilitate digital wholesale transactions on its platform. Dealers will be able to use the CARS platform to buy and sell inventory at scale through both a dealer-to-dealer network and a consumer-to-dealer network. They will also be able to tap into instant guaranteed offer solutions throughout the CARS properties, including the Cars.com marketplace and on websites built by Dealer Inspire. (
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, Europe’s leading online car retailer, which makes buying and selling a car as simple and seamless as ordering any other product online, has agreed to issue and sell, via a private placement, 2.00% convertible senior notes in an aggregate principal amount of $630 million. The Notes will be convertible into Cazoo Class A Ordinary Shares at an initial conversion price of $5.00. (
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Vehicle Connectivity & Cyber Security:
Jacobs has acquired
, a pioneer of mobility analytics who uses its vast data and machine learning resources to shed light on mobility, enabling users to solve complex transportation problems. StreetLight applies proprietary processing technology to location data from millions of mobile devices, connected vehicles, IoT sensors and geospatial databases to measure multimodal travel patterns – and makes them available via its online SaaS (Software as a Service) solution StreetLight InSight®. Designed for smart cities and the transportation industry, the on-demand software provides industry-targeted analytic tools to support critical infrastructure planning, investment and policy decisions. (
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Automotive cybersecurity startup
has raised a $3.5 million Pre-Series A round led by Inflexor Ventures, along with 9Unicorns, RPG Ventures and SAB HOLDINGS. SecureThings.ai provides specialized machine learning-based cybersecurity for all automobiles, including commercial vehicles, passenger vehicles, electric vehicles and motorbikes. (
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Finance & Insurance:
CCC Intelligent Solutions, a leading SaaS platform for the P&C insurance economy, announces it has acquired
, an AI leader in subrogation claims management technology. Safekeep is an enterprise platform that leverages AI to speed and improve subrogation management across auto, property, workers' comp, and other insurance lines of business. The acquisition of Safekeep is a natural next step in CCC's vision to deliver end-to-end straight-through claims processing. (
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Credit Bureau Connection, a leading provider of credit report and compliance solutions to automotive dealers, lenders, and other end markets, announced today that it has acquired
, a SaaS provider of compliance and workflow solutions for the automotive retail industry. Financial terms of the transaction were not disclosed. CBC is backed by The CapStreet Group, a Houston-based lower middle market private equity firm. (
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Electrification:
Vontier announced the acquisition of
, a leading provider of EV charging and energy management software. No further transaction details were announced. Driivz is an intelligent cloud-based subscription software platform supporting EVCI providers with operations management, energy optimization, billing and roaming capabilities, as well as driver self-service apps. The Tel Aviv, Israel-based company currently provides solutions to a broad range of customers participating in the global buildout of EVCI, including utilities, charge point operators, fleets, OEMs, EMSPs (e-mobility service providers), and oil & gas companies. (
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Autonomy:
, which builds systems that help autonomous vehicles understand their surroundings, has secured $140 million USD in Series D funding and debt. LeddarTech’s financing consists of $116 million USD in equity Series D capital led by FS Investors, and a $24 million debt facility from Desjardins Group. LeddarTech described this $116 million USD in Series D funding as its “first close,” and declined to disclose how much the company ultimately aims to raise as part of the round when reached for comment. LeddarTech plans to use the funding to support the development and commercialization of its sensor fusion and perception solutions. LeddarTech said the fresh capital will support the development and commercialization of its proprietary sensor fusion and perception automotive solutions. The Canadian firm also plans to use this funding to bolster its engineering capabilities as it looks to meet demand from global original equipment manufacturers (OEMs) and automotive customers. (
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VTOL:
A startup hoping to reinvent regional air travel with an unusual vertical-takeoff aircraft has rebranded and raised a $12.4 million funding round. Craft Aerospace is now know as
, and the money will go toward a planned demonstration flight this year with a one-passenger prototype. (
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Aftermarket & Repair:
Cox Automotive Mobility and Dickinson Fleet Services announced the acquisition of
, the Jacksonville-based full-service, 24/7 commercial fleet and truck maintenance provider. The acquisition serves to expand and strengthen the geographic reach of Cox Automotive Mobility Fleet Services' and Dickinson Fleet Services' preventative scheduled maintenance, branch-based maintenance and 24/7 emergency mobile service in Jacksonville, Orlando, Tampa and other Central Florida areas. (
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Micromobility:
Porsche is further expanding its involvement in the rapidly growing market for eBikes, acquiring a stake in
, an innovative manufacturer of eBike drive systems, and establishing a strategic partnership with Ponooc. (
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Many thanks,
Steve Greenfield
678.576.9972
