Hi ,
Here are the past week's AutoTech and Mobility transactions. For a more detailed monthly recap, check out our
. Enjoy!
Special Announcement: Automotive Ventures expands Operating Partner team with the addition of Tony Rimas
l have worked with
for over 12 years, and I couldn't be more excited and honored to have him join the Automotive Ventures team. I don't know of anyone in the AutoTech and Mobility space who has as strong a background and track record. Welcome to the team, Tony! (Link to
)
Last Week's Auto-Tech Transactions:
Dealer Tech & Auto Commerce:
, Latin America’s biggest startup, signed structured financing agreements with HSBC Holdings Plc, Goldman Sachs Group Inc and Banco Santander SA worth $810 million as it looks to expand operations amid a downturn in the tech industry. (
)
, a Turkey-based online trading platform for buying and selling used cars, has raised $37M in a Series C funding round from a combination of existing and new investors alongside founding investor Vitol. (
)
, the leader in bringing advanced title and registration capabilities to DMVs, automotive retailers, and insurance carriers across the U.S., announced a $12.9 million Series B investment. The over-subscribed round, with continued support from four public companies, brings Champ Titles' total funding to over $30 million. (
)
Shared Mobility:
Micromobility aggregator app
has raised €800,000 in funding to expand its services and further improve the shared mobility experience. The Danish company helps users search for shared e-scooters, bikes, mopeds and cars, compare prices, and find the best option for their trip, all from one platform. (
)
Finance & Insurance:
is a new insurance company founded specifically to serve riders of motorcycles, e-bikes and power sport vehicles. The Boston-based startup recently closed on $4.75 million in a seed funding round led by American Family Ventures, with participation from The Cross Country Group, SiriusPoint and Belmont Capital, LLC. (
)
Autonomy, Robotics & AI:
has raised a $25 million Series B funding round led by KB Investment. Seoul Robotics has taken a divergent path on the road to commercializing autonomous vehicles. Instead of developing and embedding the entire self-driving system, including sensors into a vehicle, Seoul is turning to surrounding infrastructure to do some of the heavy lifting. (
)
BMW i Ventures announced a lead investment in a $10M Series A round for
, an Optical AI technology company. The company’s FeaturePrint® technology quickly and easily digitizes physical objects for irrefutable identification, authentication, and tracing, and eliminates misidentification and misuse of items. (
)
Electrification & Alternative Fuels:
FLEETCOR (NYSE: FLT), a leading global business payments company, announced the acquisition of
, a leading European electric vehicle (EV) software and network provider to vehicle OEMs, charge point operators (CPO), and fleets. (
)
, an EV charging data analysis platform, has now used its proprietary prediction software to analyze 70 million data points for prospective charging site locations across the U.S., and completed its Series A funding round. Lead investor Congruent Ventures is joined by Homecoming Capital and Ironspring Ventures this round, along with seed investors Trucks Venture Capital, Ubiquity Ventures, E14 Fund, AHOY Capital, Upside Partnership, Qasar Younis and others–bringing total funds raised to $14 million. (
)
Japanese auto giant Suzuki has taken a strategic stake in Australian tech startup
as part of $21 million round that values the business at $170 million. Applied EV develops vehicle control systems based on software the company has called Digital Backbone, for use in electric vehicles dedicated to autonomous driving applications. (
)
, a Denver-based battery performance and safety technology company, announced the closing of its $38M Series B Financing led by Volta Energy Technologies, with participation from Flag Group and other investors. (
)
raises 50 million euros from Ballard Power Systems and the German hydrogen system specialist NEUMAN & ESSER GROUP. Quantron AG is a specialist for battery- and hydrogen-electric commercial vehicles. With Quantron-as-a-Service (QaaS), it offers a 360-degree OEM-open ecosystem for its customers. (
)
Britain's Intermediate Capital Group (ICG) is investing 240 million euros ($240 million) in
, a French firm specializing in electric vehicle (EV) charging services in multi-occupant and office buildings. (
)
Electric-vehicle battery maker
plans to raise about HK$11.56 billion ($1.47 billion) in a Hong Kong initial public offering as it looks to raise funds for the construction of battery production lines. (
)
Auto supplier
plans to acquire the vehicle electrification business of Hubei Surpass Sun Electric Co., expanding its electrification foothold to China. (
)
French startup
has signed a multiyear financing partnership with DIF Capital Partners in order to roll out more charging stations for electric vehicles and double down on growth in general. It is an equity and quasi-equity $180 million deal that will be progressively unlocked from 2022 to 2030. (
)
GM Ventures, the automaker’s investment arm, has invested in
’s Series A financing round, supporting a new GM-Lithion strategic partnership agreement to pursue a circular battery ecosystem using Lithion’s advanced battery recycling technology. (
)
Have a great week,
Steve Greenfield
678.576.9972
