Hi ,
Here are the past week's AutoTech and Mobility transactions. For a more detailed monthly recap, check out our
. Enjoy!
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Last Week's Auto-Tech Transactions:
Dealer Tech & Auto Commerce:
Online used-vehicle retailer
. plans to combine with
, the used-vehicle consignment company, in a stock-for-stock merger. (
)
PureCars has acquired
, a digital marketing technology and services provider for car dealers. Terms of the deal were not disclosed. The addition of AutoSigma’s digital asset platform to PureCars can allow dealers to get vehicle advertising out to multiple channels in a more timely manner, helping to alleviate sluggish “speed to market.” (
)
Shared Mobility:
, a Toronto-based software-as-a-service (SaaS) provider for a mobility rewards platform, has raised $2.5 million in growth capital from WindSail Capital Group LLC, a Boston-based investment firm focused on energy innovation and sustainability. (
)
Autonomy, Robotics & AI:
Nexar Inc., a leading AI mobility company, has entered into an agreement to acquire
, the leading provider of intelligent networking for the internet of moving things. (
)
Beijing-based
, a developer of autonomous robots for warehousing, closed a new $100 million Series E1 that values the company at more than $2 billion. Investors in the round included Intel Capital, Vertex Growth and Qingyue Capital Investment. (
)
, a Seoul, South Korea-based AI-based perception processing company for Autonomous Vehicles and ADAS, raised $88M in Series C funding. The round was led by ZF Group and Aptiv. With this round closed, StradVision now has $129m USD in cumulative funding from the seed round through Series C. (
)
Electrification & Alternative Fuels:
BorgWarner has acquired
. The transaction has an enterprise value of up to $185 million, which is being funded primarily with cash balances. Headquartered in San Diego, California, Rhombus offers V2G and Underwriters Laboratory-certified charging. (
)
, the EV industry-leading manufacturer with the most heavy-duty zero-emission trucks in operation in the United States, has closed a $35 million institutional funding round led by S2G Ventures and CCI, an affiliate of Henry Crown & Company, to support and accelerate the company's growth. (
)
, a cloud-enabled parking software provider, announced its strategic partnership with real estate investment management firm Brookfield. The partnership involves a $40 million investment from Brookfield, aimed to improve the tenant experience by utilizing FLASH’s electric vehicle solutions and connected mobility for its residents. These technologies are used in more than 15,000 locations across cities in the U.S. and Canada. (
)
has just completed a new funding round of $63 million. Anchored by a $25 million investment from industrial giant Siemens, the round includes investments from Japan Energy Fund, Mirae Asset Capital, and returning investors Stage One, Airwaves Wireless Electricity, and Delta Electronics among others. WiTricity was founded out of MIT in 2007 to commercialize the use of magnetic resonance to transmit power over distance at any power level. (
)
Air Mobility & Space:
New Zealand-based
has come up with an alternative to current aerospace propulsion systems. The core technology is an electromagnet that generates a very strong magnetic field, which can interact with other magnetic fields — like those on other spacecraft, or even Earth’s own — to generate torque. The technology caught the interest of investors, who recently contributed to a NZ$10.5 million ($6.585 million) seed round. New Zealand-based VC firms GD1 (Global From Day One) and Nuance Connected Capital led the round. (
)
Vehicle Connectivity:
, the transportation software and data provider, has raised $10 million from investors, less than a year after the company nearly went public. Inrix has raised $122 million from private investors since it spun out of Microsoft nearly two decades ago. It last raised outside capital in 2014. The 350-person company in recent years has shifted from selling traffic and transportation-related data to offering software-as-a-service products that feature more analytics, primarily to public sector clients. (
)
Have a great week,
Steve Greenfield
678.576.9972
