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:
Chinese used car seller
has agreed to a binding term sheet with two existing investors for a subscription deal. Under the agreement, the Nasdaq-listed company will issue $100 million worth of convertible preferred shares to NIO Capital, the investment arm of electric car startup Nio, and private equity firm Joy Capital at $0.23 per share. (
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Autonomy:
, a global manufacturer of driverless industrial vehicles, announced a Series C+ round of funding of more than US$80 million, led by Meituan (China's leading e-commerce platform for services) and 5Y Capital. (
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Adtech:
, a New York-based tech-enabled, out-of-home advertising company, raised $5M in Seed funding. The round was led by Brand Foundry Ventures, with participation from Amity Supply, Finn Capital, and Consumer Ventures. (
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Electrification & Alternative Fuels:
Battery maker
has agreed to go public in a transaction with a blank-check company valuing it at $500 million, including debt. The agreement with Chardan NexTech Acquisition 2 Corp. is being financed through $128 million in the special purpose acquisition company’s trust plus $230 million in additional financing. (
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BMW i Ventures announced a lead investment in the Series A-1 financing round of
, a feedstock-flexible modular platform producing battery-grade lithium hydroxide and carbonate to improve the sustainability profile of lithium. (
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has entered into a business combination agreement with Kensington Capital Acquisition Corp. IV (NYSE: KCAC.U); upon closing, the combined company's common stock will be listed on the New York Stock Exchange under the ticker symbol "AMPX". Amprius is transforming electric mobility by developing, manufacturing, and selling the most powerful lithium-ion batteries on the commercial market today. (
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is trying to disrupt the electric work truck market by developing its own chassis and the batteries and motors to drive it. About 29,000 investors have purchased $32.6 million in private shares of the Mesa, Arizona-based company. Atlis holds the ticker symbol AMV on the Nasdaq Global Market. And that’s where the shares will trade when the listing is activated sometime in the next few months. (
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, a Toronto-based startup that builds software to operate and optimize electric vehicle charging equipment for fleets and commercial customers, has raised a $15 million Series A round. (
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ATC Drivetrain said it acquired battery life cycle management company
. ATC, based in suburban Detroit, traces its roots to 1938. It also operates in Oklahoma, Tennessee, England and China. The acquisition of Global Battery Solutions, based in Holland, Mich., would help ATC improve its EV systems and life cycle battery management. (
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Air Mobility & Space:
Joby Aviation, a California-based company developing electric vertical takeoff and landing vehicles (eVTOL) for commercial passenger service, announced the acquisition of
, an aerospace software engineering firm. (
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Micromobility:
India-based electric scooter maker
raised US$128 million in a Series E round, which saw participation by Hero MotoCorp as well as the Strategic Opportunities Fund – an investment vehicle run by India’s National Investment and Infrastructure Fund (NIIF). (
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Marine:
is currently prototyping carbon capture equipment that connects to ships’ smokestacks, using a “lime-based approach” to cut carbon emissions by as much as 95%. The startup’s tech works by routing the exhaust into a container that’s filled with porous, calcium oxide pebbles, which in turn “bind to carbon dioxide to form calcium carbonate,”— essentially limestone. (
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Finance & Insurance:
(formerly known as MotoRefi), the auto fintech whose mission is to help people take control of their car payments, has closed $115 million in an oversubscribed Series C funding round, which brings the company’s valuation to $1.1 billion. (
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Have a great week,
Steve Greenfield
678.576.9972
