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:
AutonomyFinance & Insurance:
Polly (formerly DealerPolicy), the leading insurance marketplace for automotive retail, today announced it has closed on an acquisition of automotive marketing and analytics company,
Founded in 2013, Driven Data's mission is to leverage data across a plethora of automotive retail systems to help the automotive community attract high-value customers more efficiently. (
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Electrification & Alternative Fuels:
Siemens has invested $25 million into
, a wireless charging technology company. Siemens and WiTricity will work together to drive innovation in the emerging market for wireless EV charging. This market is expected to reach $2 billion by 2028 in Europe and North America alone, according to Siemens’ calculations. (
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BrightDrop, the technology company decarbonizing last-mile delivery, is acquiring fleet optimization software from
, a California-based technology startup. BrightDrop will integrate Marain’s artificial intelligence-powered fleet optimization software into BrightDrop’s ecosystem of last-mile solutions to analyze, forecast and identify multi-modal solutions for fleet customers as they plan their journey to full-fleet electrification. (
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EV battery swapping network
has raised $25 million in a Series A round led by Tiger Global Management. This is the second round of funding for the India-based company in the past seven months. This fundraise comes at a time when the electric vehicle space is picking up pace in India with multiple players throwing their hats into the ring including battery swapping companies. (
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Blink Charging has agreed to acquire North American EV charging infrastructure manufacturer
for $200 million. Blink, an electric vehicle charging station developer, said the acquisition will add nearly 13,000 chargers and 3,800 locations to its business. (
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Traffic, Smart City, & Public Sector:
Toronto-based driver’s education platform
has raised $500,000 CAD in pre-seed funding to fuel its Ontario launch. Kruzee was founded in 2021, and aims to bring a better, more accessible and transparent driver’s education experience to Ontarians through its ministry-approved online driving school. (
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, a startup building payment infrastructure for parking facilities, has raised $167 million in a Series B round co-led by 3L CAPITAL PARTNERS LIMITED and Assembly Ventures with participation from Dragoneer Investment Group, Eldridge Industries, Silver Lake Waterman and UP.Partners. (
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Micromobility:
Porsche AG is acquiring
, an e-bike drivetrain manufacturer that specializes in lightweight motors. After buying a 20 percent stake in the company earlier this year, Porsche said it would acquire all of Fazua’s shares, making it the latest e-bike company to come under the automaker’s control. Porsche acquired a majority stake in Croatian e-bike company Greyp Bikes late last year. (
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Air Mobility & Space:
has been acquired by Joby Aviation. Joby acquired the company in April 2021, which was previously unreported. H2Fly has made impressive progress with its four-seat, hydrogen fuel cell-powered demonstrator aircraft, the HY4. (
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Specialized radar company
has raised $135 million in new funding it needs to keep pace with client demand and to continue anti-drone tech development, receiving the largest boost from backers Bill Gates and Scotland’s Baillie Gifford Group. (
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, a California-based electric vertical takeoff and landing (eVTOL) vehicle startup, has secured $145 million in funding that will go toward the development of Butterfly, the company’s experimental aircraft prototype, by the second half of 2023. Hanwha Aerospace, which holds a 30% stake in Overair, previously invested $25 million into Overair’s Series A in 2019. This latest round brings its total investment in Overair up to $170 million. (
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Have a great week,
Steve Greenfield
678.576.9972
