Hi ,
Here are the past week's AutoTech and Mobility transactions. For a more detailed monthly recap, check out our
(you can find the latest report
). Enjoy!
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Last Week's Auto-Tech Transactions:
Dealer Tech & Auto Commerce:
DealerBuilt
, an enterprise dealer management system (DMS) provider for retail dealerships, announced the acquisition of
, a leading agnostic marketing intelligence platform that helps the automotive industry standardize digital metrics to create a fair baseline measurement of digital performance. (
)
, the leader in real-time intelligence for contact centers, announced the closing of its $80 million Series C financing round, giving the company a $1.6 billion post-money valuation, quadrupling its value in a year. Over the past year, Cresta has tripled its revenue and delivered a Net Revenue Retention (NRR) of 210%. (
)
InsurTech:
The Estonian tech startup that aims to save billions for car insurance and mobility companies,
, has raised $1 million in an investment round led by DEPO Ventures , which saw the participation of Plug and Play Tech Center. Founded in 2019, DriveX is digitizing vehicle inspection processes with AI-assisted technology. (
)
Aftermarket:
, the car wash CRM, announced it raised $12 million in Series A financing from Bedrock Capital LLC and Founders Fund. Rinsed helps car washes of all sizes delight their customers and grow their subscription revenue with easy-to-use customer relationship management software. Rinsed integrates with car washes’ existing point-of-sale hardware, and enables automated email & text marketing, customer engagement to reduce churn, and online sales directly through their website. (
)
, the mobile payments startup responsible for providing pay-by-text payments at gas stations across Massachusetts, has announced the completion of a $4 million seed round of funding. (
)
Electrification & Alternative Fuels:
, a global manufacturer and supplier of advanced silicon-carbon technology for lithium-silicon batteries, today announced it has raised $400 million in Series C funding led by
Porsche AG
with participation from OMERS Capital Markets, Decarbonization Partners, Riverstone Holdings, Vsquared Ventures, Thomas & Moore Strategic Ventures, LLC, and other large institutional investors. (
)
, a pioneer in electrolyte formulations for next-generation lithium batteries, has raised $12M in Series A financing, led by Anzu Partners with participation from LG Technology Ventures, Shell Ventures, Foothill Ventures, and Taiyo Nippon Sanso MOCVD. (
)
has become the latest startup in the electric-vehicle space to unveil plans for an initial public offering as the global push towards electrification accelerates. (
)
Lithium-ion battery recycling firm
is teaming up with Glencore as the mining giant expands its stake in the EV battery supply chain. Glencore will invest $200 million in the company as well as designate Li-Cycle its preferred lithium-ion battery recycling partner worldwide. The Toronto-based recycling firm has developed a process for breaking down end-of-life batteries and extracting their valuable metals for reuse. (
)
Shared Mobility & Subscription:
Stellantis has agreed to buy the
car-sharing business from
BMW Group
and
Mercedes-Benz AG
as the two German automakers focus on the software part of their mobility alliance. (
)
Have a great week,
Steve Greenfield
678.576.9972
