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 & Vehicle Commerce:
ACV Auctions has acquired
, an international artificial intelligence solutions company that automates vehicle damage detection, for $19 million. Monk’s computer vision AI technology enables users to take photos of a vehicle on their phone and, through machine learning, automatically identify scratches, dents and damages.
TradePending, a provider of vehicle valuation and merchandising software solutions to car dealerships, has acquired
, a provider of website engagement tools for the automotive, power sports, RV, and marine industries. (
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— a leading compliance solutions provider with respect to the financing of F&I products — has partnered with Calera Capital, in a majority recapitalization of the business. (
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Aftermarket:
Roadside-assistance startup
has held talks to go public through a merger with SPAC Graf Acquisition Corp. IV. A transaction features a potential private investment in public equity, or PIPE, and could value the combined entity at more than $700 million. (
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Bridgestone Americas today announced a minority investment in tire sensor and data management company
Using an automated and cost-effective drive-over solution that measures tire tread, Tyrata collects tire wear data and provides actionable, cloud-based analytics. This strategic investment accelerates Bridgestone’s efforts to deploy advanced mobility solutions that improve fleet safety, efficiency and sustainability. (
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, a Philadelphia startup that allows customers to receive car washes on a subscription basis, raised a $6 million Series B, the company's second round of funding in the last six months. New York investment firm Spring Mountain Capital led the round. The funding adds on to $5 million in debt raised by EverWash in September. (
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Vehicle Connectivity:
otonomo has acquired
, for $69 million, including a performance-based earnout of up to $37.5 million. The Floow is a SaaS provider of connected insurance technology for major carriers globally. The combination of vehicle and mobile data from Otonomo and The Floow will be crucial to enabling innovative, usage-based and behavioral-based insurance products and to move from “detect and repair” to “predict and prevent” models to create safer, greener and smarter driving experiences for policyholders. (
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Electrification:
Capricorn Investment Group and BHP Group’s venture capital unit are backing a startup that says its processes make for cleaner and more efficient mining in lithium, the metal used in electric-vehicle batteries.
closed on a $14 million investment round co-led by Capricorn's Technology Impact Fund and Temasek’s Xora Innovation, along with BHP Ventures. Funds will be used to help commercialize Summit’s technology. (
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Energy storage developer
said it plans to build a battery plant in the U.S. after raising $65 million in a new round of funding. The funding round was led by BMW i Ventures, with Coatue Management joining in as a new investor. (
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Autonomy:
Bosch will acquire 3D-mapping company
as the world's largest auto supplier looks to boost its development of automated driving systems. Atlatec, based in Karlsruhe, Germany, creates high-resolution 3D maps for use in vehicles equipped with Level 3 or Level 4 automated technology. The company employs 25 people in Germany, Japan and the U.S., according to Bosch. Bosch sees digital maps as playing a "crucial role" in the development of automated driving, alongside vehicle sensors such as radar and cameras. (
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, one of the bigger players in the world of autonomous delivery robots — the small, boxy vehicles that self-drive around cities and closed campuses delivering food and other small items — has raised yet another round of funding, just 30 days since its last financial infusion. The company, founded and developed in Estonia but headquartered in San Francisco, has picked up $42 million in equity, bringing the total raised to over $100 million in the last month after announcing at the end of January that the European Investment Bank (EIB) would be putting €50 million ($57 million) into the company. (
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Vehicle Assembly, Supply Chain & Logistics:
, the premier dynamic pricing infrastructure for the logistics industry, announced its first outside investment, led by Tiger Global Management. (
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Micromobility:
, a London-based e-scooter brand, is launching in Los Angeles after raising $1.75 million from Trucks VC. Taur came onto the scene in 2019 to launch a pre-order campaign for its premium, sleek, white e-scooters that are built with a foot deck that lets riders face forward while riding and a couple of big tires. The plan was to launch in London, but the U.K. has still failed to legalize privately owned e-scooters. (
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, the Berlin-based micromobility operator that has been steadily taking over Europe, is making a sweeping entry into North America by acquiring Spin from automaker Ford Motor Company. Tier will acquire all of Spin’s 50,000 e-scooters and e-bikes, bringing the German company’s total fleet to 300,000. (
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Air Mobility & Space:
, a startup that builds hardware and software for aerospace communications, has raised $60 million in funding from investors including Airbus Ventures and Kleiner Perkins. (
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German aviation startup
has raised $170 million from investors including funds run by Korean WP Investment in a new financing round as it seeks certification for its battery-powered flying taxi. (
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Many thanks,
Steve Greenfield
678.576.9972
