Hi
,
Here are the past week's AutoTech and Mobility transactions. For a more detailed monthly recap, check out our
. Enjoy!
We're excited to have the new Automotive Ventures
DealerFund
covered in Automotive News (
). The fund has been created for dealers to drive strong returns by investing in tech companies that sell into dealerships.
Last Week's Auto-Tech Transactions:
Shared Mobility & Subscription:
is bringing on-demand rides to public transportation. The service is already working in Houston and Seattle. The startup raised $15 million in new venture funding in a round led by Galvanize Climate Solutions. (
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Autonomy:
A nascent Nuro challenger from China has its sight set on the delivery market in the U.S. and just raised some seed funding to advance its ambitions.
, a Shenzhen-based autonomous delivery startup founded by Baidu veteran David Chang, said it has closed a seed round of about $2.5 million. Qianchuang Capital, a Beijing-based investment firm managed by veterans from China’s leading financial institutions, led the round, with participation from Shangbang Huizhong, a Chinese fund backed by real estate developers. (
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Luminar Technologies is acquiring high-performance laser manufacturer
. This transaction follows a multi-year collaboration and brings fundamental next-generation chip-scale laser technology, IP, and production expertise in-house for Luminar lidar systems. This integration extends Luminar’s industry leadership on its path towards democratizing safety and autonomy for the automotive industry. (
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, a provider of multi-passenger, electric, autonomous mobility solutions, announced $25 million of Series A-1 funding, led by ABS Capital, with supporting participation from Intel Capital, Blue Lagoon Capital, TDF Ventures and Hidden Creek Management. Founded in 2018, Beep has safely advanced the testing of autonomous shuttles for the public and private sectors while working closely with the National Highway Traffic Administration and its autonomous vehicle test program. (
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has raised more than 1 billion yuan ($157 million) in a new round as the Chinese autonomous driving system startup looks to build a new production plant. (
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Connectivity:
The Goodyear Tire & Rubber Company announced today that its venture capital arm, Goodyear Ventures, has added
, formerly Helium, to its growing investment portfolio. Nova Labs is the pioneer of decentralized wireless communications and founder of the core technologies powering the Helium Network. The Helium Network provides public, long-range wireless coverage for a wide range of Internet of Things (IoT) devices, such as smart bikes and scooters, home delivery systems and more. (
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Marine:
is joining the likes of Pure EV and Zin in trying to convert some of our waterways’ gas-guzzling outboards to cleaner, quieter battery-powered ones, and the company just raised $15.5 million ahead of a planned summer shipping date. The $15.5 million A round was led by Ocean Zero, with participation from Boost VC, Winklevoss Capital and previous early investors. The conversion of the boating world to electrics is progressing slowly for lots of reasons, but it also seems as inevitable as the electrification of land vehicles. Boats are such big investments, and used so differently from cars, and physically are so much more power-hungry, that it’s not quite as simple to make the switch. Flux has designed for, it claims, both convenience and efficiency, with a new take on the traditional rear-mounted outboard. (
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Vehicle Assembly, Supply Chain & Logistics:
After nearly 60 years, BMW Group is acquiring luxury tuner brand
. The deal is expected to close in 2025. Alpina's roots can be traced back to the 1960s when the typewriter and textiles manufacturer began producing performance carburetors and crankshafts for BMW vehicles -- which are reflected in the brand's crest -- and, eventually, full-blown racing vehicles. Over the decades, the partnership between the automaker and tuner has grown, with Alpina now plucking chassis straight from BMW's assembly line for modification. Alpina's focus has also changed from racing to building luxurious grand touring vehicles, like the Alpina B8 Gran Coupe and the Alpina XB7. (
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, a company that promises freight and logistics companies full visibility into their operations, has raised $25 million in a Series A round of funding, led by Sozo Ventures, with participation from Peter Thiel’s Founders Fund, Activant Capital, Human Capital, Strike Capital, Lineage Ventures, and Flexport. Founded in 2019, Kargo has developed a software-as-a-service (SaaS)-based hardware and software platform that captures and aggregates data from physical loading docks and enterprise software systems — it essentially connects the physical and digital worlds around freight. (
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Electrification:
SK E&S announced the acquisition of
, a leading EV charging solution provider in the U.S. This is the first time a Korean company has acquired the management rights of an EV charging company based in the U.S. Founded in 2013 in California, EverCharge is a charging solutions provider that manufactures EV chargers and operates charging stations. Currently, the company has installed and is operating 4,600 EV chargers across North America including the U.S. and Canada. (
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Air Mobility & Space:
Hypersonic aircraft start-up
announced a $100 million round of funding that it says will help complete development of its first prototype aircraft, with first flights planned for 2023. The company is developing aircraft that would travel at five times the speed of sound, or Mach 5. Hermeus’ fundraising was led by venture capitalist Sam Altman, and joined by Peter Thiel’s Founders Fund and In-Q-Tel, both new investors. (
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Many thanks,
Steve Greenfield
678.576.9972
