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:
Stellantis is hoping to cash in on globally robust used-car prices stemming from the chip shortage’s squeeze on new-vehicle availability by expanding into Africa. The automaker group has teamed up with AfriCar Group to launch sales activities of that company’s new subsidiary,
, based in Abidjan on the Ivory Coast. Auto24 is a direct-to-consumer used-car company that claims transactions are conducted transparently and securely. (
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Kenect, a texting solution used by nearly 6,000 businesses throughout North America, has completed the acquisition of
, a leading provider of online reputation and digital communication software solutions for automotive and powersports dealerships and manufacturers. (
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Shared Mobility:
, an on-demand, electric shuttle service, closed an $11M Series A financing round, led by Tribeca Venture Partners. (
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Vehicle Production & Assembly:
, formerly Crane Carrier Co., has completed a Series B investment round with $150 million in new growth capital from a cornerstone global institutional investor. (
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Autonomy, Robotics & AI:
, the SaaS startup using artificial intelligence and edge computing to focus on driver and fleet safety, has raised $65 million in a combination of senior and junior mezzanine financing from SVB (Silicon Valley Bank). (
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Electrification & Alternative Fuels:
Autonomous vehicle software supplier Aptiv has agreed to acquire
for around $600 million. The bolt-on of the Bruneck, Italy-based manufacturer of busbar and battery cell technology would bolster Aptiv's high voltage power portfolio and strengthen its standing in Europe. (
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Jaguar Land Rover and South Korean conglomerate SK Group are among the investors putting more than $300 million into
, a startup that aims to serve an emerging center of battery production in the Southeastern U.S. The company says it has an efficient way to turn used lithium-ion batteries into new components. Other investors include Fifth Wall, a venture investor with a clean-energy focus. The funding is split between equity and debt and values Ascend at more than $500 million. (
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, a company that builds electric vehicle charging infrastructure for fleets, has secured over $1 billion in a Series A round to build out its portfolio of commercial charging centers. (
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EV charging company
has been building out EV charging solutions to make it easier to charge electric vehicles everywhere. It started in Europe, but it just raised an additional $30 million from Energize Ventures, at a $155 million valuation, to expand into the U.S. market. (
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, a Pittsburgh-based startup that delivers state-of-the-art compact and efficient magnetic solutions targeting electric vehicles (EVs) and the grid, has raised $2.5M in pre-seed funding. The round was led by Volta Energy Technologies, with participation from Evergreen Climate Innovations and Innovation Works. (
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Munich-based climate tech startup
has raised in €3.5 million in funding to recover critical materials such as lithium, nickel and cobalt from lithium-ion batteries. The round was led by Atlantic Labs and backed by Verve Ventures, Possible Ventures. (
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Atlanta-based electric vehicle (EV) charging company
announced the completion of its Series A funding round led by Ultra Capital, an independent investment firm that invests in businesses focused on sustainable infrastructure and energy transition. (
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has raised £9 million from The Scottish National Investment Bank. The Trojan Electric Vehicle Charging System offers an equal chance for EV drivers without a driveway to charge effectively at home, while eliminating residual clutter on the pavement. (
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XL Fleet (NYSE: XL), announced the acquisition of
, the largest privately held owner and operator of residential rooftop solar systems in the U.S. with more than 52,000 subscribers. In connection with the acquisition of Spruce Power, XL Fleet also unveiled its new corporate strategy to provide subscription-based solutions for rooftop solar, battery storage, EV charging and other distributed energy resources. (
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Supply Chain & Logistics:
is coming out of stealth with $44 million in funding to date. The company recently closed a $25 million Series B, which was led by Thrive Capital, with participating investors like Founders Fund, Andreessen Horowitz, Bain Capital Ventures and Fin Capital. TruckSmarter is a free platform that allows truckers, carriers and dispatchers to search and book loads — like the Zillow of the trucking world. (
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— a startup out of Oslo, Norway, that applies innovations in crowdsourcing to the fragmented and often murky world of shipping to build transparent data and analytics for the industry — has raised $80 million, money that it will be using to build out its datasets and customers across more global routes. (
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Logistics fintech platform Axle Payments has rebranded as
after closing a $126 million Series B funding round to continue building out payment solutions across the supply chain. (
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Micromobility:
Magna International invested $77 million in
, an Indian shared micromobility operator, and plans to jointly launch a battery swapping service company. (
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Air Mobility & Space:
, which produces a modular, electric propulsion system for small satellites, has raised a $28 million Series A. The funding round was led by Alpine Space Ventures, with participation from Vsquared Ventures, Lavrock Ventures, Airbus Ventures, In-Q-Tel, Pallas Ventures and Techstars Ventures. (
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Have a great week,
Steve Greenfield
678.576.9972
