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:
has been acquired by The Beekman Group, LLC-backed AutoManager Inc., a provider of dealer management system and website builder tools to independent auto dealerships. (
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, an online C2B marketplace for consumers to sell their vehicles to professional buyers, has closed an oversubscribed seed funding round of more than $5 million. The company, which is based in Vancouver, is also expanding to Toronto, Calgary and Edmonton, while also adding Seattle, its first U.S. market. Vanedge Capital led the funding round, which also included Anges Québec, super angel investors and existing investors. (
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, a provider of advanced vehicle diagnostic systems, today announced that it has received an investment from the capital venture arm of General Motors, GM Ventures, to help fund the development and commercialization of the company's vehicle inspection technology. (
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Autonomy & Robotics:
German automotive parts maker Continental has invested in
, a Chinese autonomous vehicle tech startup, by participating in its Series C. The round runs into “several hundred million RMB,” with funds earmarked for developing self-driving technologies for cars. The companies are working hand-in-hand with the aim of enabling Chinese passenger vehicles with automated driving functions to be produced at scale starting next year. (
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is one of a handful of startups looking to leverage indoor drones to help warehouses keep track of inventory. It’s a clever solution that’s been thus far difficult to achieve solely with wheeled robots, which have quite a bit of trouble reaching those top shelves. (
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, a developer of high-resolution 3D radar systems, announced a $22 million Series A funding round led by Octave Ventures, along with Disruptive Technology Advisors. Kleiner Perkins (which also participated in this Series A round) led a $3.4 million seed round in 2016. (
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Electrification & Alternative Fuels:
has raised $10.1 million, led by angel investor Justin Hamilton and featuring a number of additional YC investors. Turns out there are a lot of valuable metals on the ocean floor — materials like nickel and cobalt, which are key to tackling the growing demand for lithium-ion batteries. The San Jose–based Y Combinator graduate believes it has developed a method to mine the depths of the ocean for polymetallic nodule rocks without harming the fragile ecosystem in the process. (
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and Gores Guggenheim, the special purpose acquisition company planning to merge with EV maker, said Tuesday that they expect the deal to raise at least $850 million. The companies foresee the merger closing on Thursday, subject to Gores Guggenheim stockholder approval. If that happens, Gores Guggenheim's Nasdaq listing under the ticket symbol GGPI will switch to the combined companies' new symbol, PSNY, and start trading in New York on Friday. (
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Swedish startup
differentiates itself from competitors by allowing only full-electric cars and plug-in hybrids to be listed on the platform. Founded in 2021, Carla was launched to streamline the process of buying an electric vehicle while providing assurances to buyers. Having established a presence in Sweden, the country has just secured an additional 19 million euros ($20 million) in fresh funding to propel it into the wider European market. (
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Boston-based
closed a $198 million Series B—a mix of equity and venture debt—led by Fifth Wall Climate Tech. The round also featured investments from S2G Ventures, lenders Silicon Valley Bank and Trinity Capital and strategic investors Amazon’s The Climate Pledge Fund, Cosan, Equinor Ventures, Honeywell, Mitsubishi Heavy Industries and Rio Tinto. (
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has been acquired by global electric equipment and services giant Schneider Electric, giving it financial backing to expand its open-standards-based charging platform. (
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was founded to accelerate the adoption of EVs in commercial fleets. The company announced a $10 million seed round led by Obvious Ventures and joined by Wireframe Ventures, Congruent Ventures and Better Ventures. (
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Micromobility:
Helbiz has signed a letter of intent to acquire a shared electric mobility platform -
- in a potential all-stock deal. Terms of the transaction were not disclosed yet. Founded in 2018, Wheels is a micro-mobility company using proprietary vehicles with integrated helmet technology. It is said to have eight thousand vehicles deployed across major U.S. markets, including New York City, Honolulu, and Austin. (
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Supply Chain & Logistics:
, the third-largest logistics provider in the world by revenue and a division of the national railway company of Germany, has agreed to acquire truckload carrier USA Truck, Inc. in an all-stock transaction as it seeks to accelerate its penetration of the U.S. domestic market. (
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Air Mobility & Space:
Detroit-based
, Inc. has positioned itself as a provider of increasingly important infrastructure in the burgeoning drone services space, letting operators get local and federal approval quickly. With $23 million in new backing, the company now plans to take its platform to other countries looking to get their drone industries off the ground. The $23.1 million B round was led by Avanta Ventures, the VC arm of CSAA Insurance Group, a AAA Insurer — representing another category with an interest in easing red tape and quantifying risk. (
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Have a great week,
Steve Greenfield
678.576.9972
