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:
MotorK confirmed the completion of the acquisition of
. WebMobil24 is a German software provider of stock management solutions and e-commerce platforms to automotive dealers and OEMs. (
)
, an automotive e-commerce technology and services company, and Flagship Credit Acceptance, a leading auto-finance provider managed by funds controlled by Perella Weinberg Partners Capital Management and sub-advised by an affiliate of Innovatus Capital Partners, are pleased to announce they have completed a Series C capital raise with Flagship as the sole investor. Details of the financing were not disclosed. (
)
AutoVerify, powered by Mobials Inc., has acquired
. Financial details of the transaction were not disclosed. The transaction is the next step in building out the AutoVerify strategy that provides dealers with an end-to-end solution to connect and transact with digital customers looking to research and purchase a vehicle from anywhere they choose. (
)
Shared Mobility & Subscription:
All-inclusive electric car subscription service
, has raised $60M USD in equity in a Series C funding round led by Legal & General. The round will enable the business to consolidate leadership in the UK and expand into Europe, starting with Germany. (
)
Autonomy, Robotics & AI:
, a startup working on solving delivery problems using autonomous robots, has raised $3.3 million in a seed funding round as it looks to expand its market and deploy robots to existing customers. (
)
Electrification & Alternative Fuels:
Nikola Motor Company (NASDAQ: NKLA), and
(NYSE: RMO), have entered into a definitive agreement in which Nikola, a global leader in zero-emissions transportation and energy infrastructure solutions, will acquire Romeo, an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, in an all-stock transaction. The proposed exchange ratio implies a consideration of $0.74 per Romeo share and represents an approximately 34% premium to Romeo's July 29, 2022 closing share price and values 100% of Romeo's equity at approximately $144 million. (
)
, a Blacksburg, VA-based early-stage lithium-ion battery (LIB) recycling company, raised $7M in Series A financing. The round was led by Khosla Ventures, with further participation from Xerox Ventures and Shell Ventures. (
)
announced a more than $700M external investment led by funds and accounts advised by T. Rowe Price and includes Goldman Sachs Asset Management, Baillie Gifford, CPP Investments | Investissements RPC, and Fidelity Investments. In addition, all Series B investors, Capricorn's Technology Impact Fund, Breakthrough Energy Ventures and Amazon’s The Climate Pledge Fund, returned for this round and Valor Equity Partners, Emerson Collective, and Franklin Templeton also participated. (
)
Electric two-wheeler startup,
has raised $11 million (around Rs 88 crore) in a Series A round led by Chris Sacca's Lowercarbon Capital, with participation from Toyota Ventures. (
)
Dutch-based
, a company that facilitates hyper charging stations for electric delivery vans and trucks, has raised €15M in a fresh round of funding from Meewind. (
)
Marine:
, a marketplace for boat rentals, has raised $38 million in a new round of funding (
)
Micromobility:
LeBron James is betting on the boom in cycling with an investment in Germany’s
. Canyon has raised 30 million euros ($30.5 million) from LRMR VENTURES, LLC, the family office of James and sports marketing businessman Maverick Carter, and US private equity firm SC Holdings. (
)
Have a great week,
Steve Greenfield
678.576.9972
