Hi
,
Here are the past week's AutoTech and Mobility transactions. For a more detailed monthly recap, check out our
. Enjoy!
We're excited to have the new Automotive Ventures
DealerFund
covered in Automotive News (
). The fund has been created for dealers to drive strong returns by investing in tech companies that sell into dealerships.
Last Week's Auto-Tech Transactions:
Special Announcement:
Automotive Ventures is very excited to lead the Pre-Seed round for
. We look forward to working closely with Chris Loar and his team to accelerate the company’s growth! Wrapmate is an all-in-one digital platform for business owners and consumers to get their vehicle wraps & graphics projects designed, produced and installed in any US city. (
)
Dealer Tech & Auto Commerce:
(NASDAQ:CDK) to be acquired by Brookfield Asset Management for a total enterprise value of $8.3B. Brookfield will commence a tender offer to acquire all of the outstanding shares of CDK at $54.87 per share in cash, representing a 30% premium on the closing price of the company on the last full trading day prior to market speculation regarding a potential sale of the company on Feb. 18, 2022. (
)
Autonomy & Robotics:
Sarcos Technology and Robotics Corporation announced plans to acquire fellow robotics firm
. The deal, valued at $100 million, includes $30 million in cash and $70 million in Sarcos stock. Pittsburgh-based RE2 is best known for its teleoperated mobile manipulation systems — one of the categories its future parent has a toehold in. (
)
, a provider of the technology behind autonomous excavators and other construction equipment like dozers and loaders, raised a $64 million Series C round, led by Tiger Global Management and backed by Built’s existing investors NEA Ventures, Founders Fund, Fifth Wall, and Building Ventures. This round brings Built’s total funding to $112 million. (
)
Shared Mobility & Subscription:
, a San Francisco-based car rental company announced that recently it has raised $35.2 million in a venture round. The latest round brings the company’s total funding to $502.6 million. Terms of that funding were not disclosed. (
)
Micromobility:
Shared micromobility company TIER Mobility has acquired
, a U.S.-based computer vision-powered e-scooter parking startup whose tech Tier had been trialing in multiple cities in Europe. (
)
Electric bicycle manufacturer
closed a $6.5 million Series A, led by Ecosystem Integrity Fund. (
)
Vehicle Assembly, Supply Chain & Logistics:
, the modern automotive digital logistics marketplace, has closed a $5 million Series A round as the company continues its mission to revolutionize the automotive transport marketplace. Leading the round was Lyndon Rive, who co-founded SolarCity (now Tesla Energy) in 2006 along with his brother Pete and cousin, Elon Musk. (
)
BMW i Ventures led a CHF 32.4 million ($35 million) investment in sustainable lightweighting specialist
, as the Swiss startup closed its Series B financing round this month. (
)
Electrification & Alternative Fuels:
JetBlue Technology Ventures participated in a $13 million fundraising round by
. The company develops battery systems primarily for the new propulsion systems needed for electric aircraft but also for other transportation applications, including for cars, trucks, and boats. (
)
Porsche AG has joined a group of investors making a $260 million equity bet on a startup that aims to harness wind power to make a gasoline substitute. Porsche is investing $75 million for a 12.5 percent stake in electricity-based fuel developer
, who is building a plant in Chile to produce electricity-based synthetic fuels from hydrogen and carbon dioxide using wind energy, starting midyear. (
)
Many thanks,
Steve Greenfield
678.576.9972
