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:
, a leader in end-to-end dealer management software for specialty dealerships and backed by Serent Capital, has been acquired by The Reynolds and Reynolds Company. (
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Autonomy, Robotics & AI:
, a leader in the development and deployment of autonomous vehicle (AV) technology, closed a $111 million Series C round of funding. Joining Tokio Marine and State Farm Ventures participated in the round, supporting May Mobility’s growth and becoming one of the first U.S.-based insurers to invest in AVs. (
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announced that it has closed a financing round with Qualcomm Ventures. The funding will go toward R&D investment in autonomous driving core technologies, high-quality mass production, and a talent training system. (
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French tire manufacturer Michelin announced that it has acquired Pittsburgh-based
, a startup that specializes in the analysis of road infrastructure images it captures with smartphones. The companies did not disclose the financial terms of the deal. (
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Electrification & Alternative Fuels:
(7Gen) announced the close of an $8-million Series A financing round that will accelerate the deployment of electric trucks and buses through the company’s innovative EV-as-a-service model. The round was led by Quebec-based pension fund Fonds de solidarité FTQ and Siemens Financial Services (SFS), which both add significant strategic value and can help 7Gen expand. (
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, the innovative zero-emission “fleet-as-a-service” provider, today announced a $50 million capital commitment from a fund managed by ArcLight Capital Partners, a leading infrastructure and energy investor. (
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British fast-charging battery startup
has raised 50 million pounds ($59 million) in Series B funding to build a UK manufacturing plant in 2023 to produce millions of battery cells. (
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, a technology company that uses proprietary high throughput methods to rapidly develop new battery materials, has raised $90 million in a Series D funding round led by Koch Industries Strategic Platforms (KSP). Other significant investments come from Eastman Kodak Company and Fifth Wall Climate. (
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Vehicle Production & Assembly:
, which previously raised $1 million in pre-seed and $3 million in seed funding, recently closed a $23 million Series A round led by Prelude Ventures. Existing and new investors include Obvious Ventures, Congruent Ventures, My Climate Journey, HyperGuap and Alumni Ventures. (
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Public Transport & Smart City:
Volvo Group Venture Capital invests in
to accelerates the digitalization and electrification of the global public transportation sector. The bus market is transforming due to digitalization, electrification, and changes in business models. Advanced software solutions are key for cities and bus operators to take advantage of the market development. Optibus and Volvo Group will collaborate to create mutual strategic learnings and growth opportunities. (
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Air Mobility & Space:
raised a Series B round of $105 million. The round was co-led by Snowpoint Ventures and Baillie Gifford with participation from GV (formerly Google Ventures) and brings Merlin’s total raised to $130 million. (
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Have a great week,
Steve Greenfield
678.576.9972
