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:
Aftermarket & Repair:
SoftBank Group Corp. might invest $35 million in Indian car service and repair firm
, Reuters reported. SoftBank has been in discussions with GoMechanic for more than nine months and was initially uncomfortable with the Indian firm's valuation request of $1 billion. Vision Fund's early-stage talks with GoMechanic are being held around a $600-700 million valuation. Malaysian sovereign fund Khazanah and existing investor Tiger Global are also planning to invest in the $100 million funding round. GoMechanic was valued at $300 million last year with annual revenue of around $40 million. (
)
Vehicle Production & Assembly:
Harman International acquired Israeli startup
for its car-occupant monitoring system. Deal details were not disclosed. (
)
, a Boston-based company that aims to make car rides less bumpy and more fun, just raised $39 million led by NIO Capital, a mobility-focused venture capital fund established by William Li, the founder of Chinese electric vehicle upstart Nio. (
)
Air Mobility & Space:
United Airlines is making another bet on flying taxis with a $15 million investment in
, a company backed by the aircraft manufacturer Embraer. (
)
Electrification & Alternative Fuels:
, a Dutch startup developing a long-range hybrid solar-powered car, today announced that it has raised €81 million ($81 million) as it prepares to begin production of its first vehicle in the coming months. (
)
, a global developer and manufacturer of direct current (DC) fast charging technology for EVs, announced a $150 million debt facility, provided by a consortium of investors, in addition to a committed equity facility established with B. Riley Financial Principal Capital II, LLC, for up to $75 million. (
)
Liberty Energy (NYSE: LBRT) announced an investment in
, a global leader in the manufacturing of sodium-ion batteries. Liberty and Natron will collaborate to introduce sodium-ion batteries as an energy storage solution to provide uninterruptible backup power for Liberty’s digiFrac™ electric frac pumps. (
)
Mullen Automotive acquired a controlling interest in fellow electric vehicle manufacturer
, of Oak Park, Mich. Mullen, headquartered in Brea, Calif., bought a 60 percent stake in Bollinger for $148.2 million. (
)
Micromobility:
India's online two-wheeler marketplace
has raised $52.8M (INR 420 Cr) in its ongoing Series D funding round. (
)
Supply Chain & Logistics:
Ryder System, Inc. has acquired
, a San Francisco-based start-up known for the development of a proprietary logistics technology focused on optimizing transportation networks. (
)
Middle Eastern logistics startup
raised $100 million from investors including Bahrain-based asset manager Investcorp and Abu Dhabi wealth fund Mubadala Investment Co., in what’s likely to be its last funding round ahead of a planned listing. (
)
Have a great week,
Steve Greenfield
678.576.9972
