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:
Finance & Insurance:
J.D. Power has purchased finance and insurance menu and reporting programs from the auto retail software company
. Terms of the deal were not disclosed. About 2,000 dealerships, nearly all of which are franchised operations, use at least one of the two Tail Light products, that help consumers pick F&I products and choose a means of financing the vehicle. (
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Autonomy:
is aiming to be the iPhone camera for laser technology to others’ DSLR — using software workarounds to compete with more advanced (and more expensive) hardware. The Mountain View, California, company announced a $10 million Series A funding from NextView Ventures and Micron Ventures, the corporate venture capital arm of the semiconductor company Micron Technology. The startup, which has been operating quietly since 2018, previously raised about $3 million in seed capital from funds including NextView Ventures, Refactor Capital, Haystack and Hustle Fund. It’s now worth $55 million after the new round. (
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, an India-based maker of self-driving vehicles, has raised US$1.7 million in a seed funding round led by Chiratae Ventures, a technology VC firm that mainly focuses on the growth-stage startups in India. JITO Angel Network, a few angel investors, and professionals from the autonomous-vehicle industry participated in the round. Founded in 2021, Minus Zero had raised an undisclosed sum in a pre-seed round last September. It aims to produce fully autonomous vehicles similar to what global tech companies such as Tesla and Google’s Waymo make. (
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Electrification & Alternative Fuels:
has closed its first-ever seed funding round totaling $2 million. The round was led by TechNexus Venture Collaborative and included participation from Shark Tank investor Mark Cuban. Founded in 2018, the startup develops components for automotive and battery manufacturers that have uses for electric vehicles because they offer improvements in charging speeds, driving range and longevity. Natrion achieves these claims with its patented and proprietary technology called the Lithium Solid Ionic Composite (LISIC).
Web3:
BMW i Ventures announced today an investment in the Series B funding round of
after having invested in their Series A in 2021. Vendia is a leading next-gen blockchain company that is bringing the combination of blockchain and serverless computing to companies in the web3 era. (
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Micromobility:
French startup Upway has raised a $25 million Series A round led by Exor Seeds and Sequoia Capital. The company sells secondhand electric bikes that have been refurbished and are ready to roll. (Link to article)
Aftermarket:
American Tire Distributors (ATD) is acquiring the wholesale tire distribution arm of Monro, Inc.., which operate as
. ATD will pay $105 million to Monro to acquire its Tires Now operations and "certain assets under Monro's internal distribution operations." (
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Mobile vehicle services and technology marketplace Wrench, Inc. has completed the acquisition of mobile vehicle repair network
. The combined company will reach more than 35,000 zip codes and deliver services to more than 20,000 private and fleet vehicles per month. (
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Have a great week,
Steve Greenfield
678.576.9972
