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AgTech Australia and Oceania Automotive Electric Vehicle Manufacturing Software Transportation

Electric utility bike company Ubco scores $10M strategic investment with TPK

– New Zealand-based electric utility bike company Ubco announced a new strategic partnership with TPK Holdings, a Taiwanese electric components manufacturing company.
– As part of the agreement, TPK will be leading Ubco’s Series B with a $10 million investment, bringing the company’s total funding to $23 million.
– TPK will also bring the company significant supply chain support as well as scaling and manufacturing capabilities in the near future.
– At the initial stage of the partnership, TPK’s large network of global suppliers will help Ubco ramp up production of its flagship 2X2 electric utility bike, which comes in an off-road version geared for farmers and a city version geared for last-mile logistics.
– Ubco is also gearing up to release two new vehicles for which TPK will provide dedicated manufacturing support.

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Agriculture AgTech Automotive Autonomous Vehicles Drones North Africa and the Middle East Robotics

Blue White Robotics Raises $37M in Series B Funding

– Blue White Robotics from Tel Aviv provides Robots-as-a-Service (RaaS) that enables farms to run themselves autonomously.
– The company raised $37M in Series B funding.
– The round was led by Insight Partners and Entrée Capital, joined by Clal Insurance, Jesselson Family Office, Peregrine VC, and Regah Ventures.
– The new investment will be aimed at increasing the rapid adoption of these technologies, driving new US sales, and hiring talent for their international team.

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Automotive E-Commerce Latin America Online Portals

Mexico’s Kavak drives away with $700M in new funding, doubling its valuation to $8.7B

– Kavak, a Mexico City-based startup that operates a pre-owned car marketplace in Latin America, announced that it has raised a massive $700 million in a Series E round that more than doubles the company’s valuation to $8.7 billion.
– Cambridge, Massachusetts-based General Catalyst led Kavak’s Series E, which brings the company’s total raised to over $1.5 billion since its 2016 inception.
Tiger Global, Spruce House, D1, SEA, Founders Fund, Ribbit Capital, SoftBank and others also participated in the latest financing.

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Automotive Electric Vehicle Last Mile Transportation Logistics Western Europe

Volta Trucks raises €37 million to bring electric delivery trucks to the streets of London and Paris

– Volta Trucks, an EV startup, raised $44m funding.
– The round was led by Luxor Capital Group and returning investor Byggmästare Anders J Ahlström Holding of Stockholm.
– New investors included U.S. electric truck and battery manufacturer Proterra and supply chain management company Agility.
– The company plans to pilot the trucks in London and Paris.

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Automotive Autonomous Vehicles Eastern Asia

DeepRoute.ai Raises $300M in Total Funding

– DeepRoute.ai is a self-driving technology company committed to advancing urban logistics and robotaxis.
– The company raised a Series B funding round totaling to more than $300m USD.
– The round was led by Alibaba Group (NYSE: BABA) and other venture capital companies including Jeneration Capital. Previous investors Fosun RZ Capital, Yunqi Partners, and Glory Ventures also participated in the round.
– The new investment will be used to further research and development, scale automaker collaboration and fleet operation, and support the expansion of the team.

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Australia and Oceania Automotive Autonomous Vehicles Electric Vehicle

Tritium Announces AUD$40 million Private Placement Financing by Cigna Investments, Inc.

– Tritium Holdings Pty Ltd (“Tritium”), a global developer and manufacturer of direct current (“DC”) fast charging technology for electric vehicles (“EVs”), announced a AUD$40 million private placement.
– The round was led by Cigna Investments, the investment arm of Cigna Corporation, a U.S.-based global health services company.

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Artificial Intelligence Automotive Autonomous Vehicles North America

Gatik expands autonomous box truck operations to Texas with $85 million in new funds

– Gatik AI, an autonomous vehicle startup, raised $85m in Series B funding.
– The round was led by Koch Disruptive Technologies, the venture arm of Koch Industries.
– Existing investors Innovation Endeavours, Wittington Ventures, FM Capital, Dynamo Ventures, Trucks VC, Intact Ventures and others also participated.
– The company plans to have a presence in multiple cities within Texas.

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Automotive B2B North America

Trade X Raises $10M in Equity Funding

– Trade X Group of Companies Inc. is a B2B automotive trading platform.
– Canadian company raised $10M in equity funding.
– The round was led by EchoVC, Frontier Ventures, and Ugrowth.
– The company intends to use the funds for acquisitions and global expansion across North America, Europe, Asia, Africa, and the Middle East.

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Automotive North Africa and the Middle East Power Grid Semiconductor Vending and Concessions

VisIC Technologies Raises $35M in Funding

– VisIC Technologies, a Ness Ziona, Israel-based world leader in GaN electronics for xEV applications, focused on high-power automotive solutions, raised $35M in funding.
– The round was led by GoldenSand Capital and HG Semiconductors through Fast Semi Corporation.
SuZhou industrial partner joined the round as a co-investor with an additional $10M.
– The company intends to use the funds to expand operations and its business reach.

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Automotive Internet of Things Manufacturing North America

Infinitum Electric Receives Investment from Caterpillar Venture Capital

– Infinitum Electric, an Austin, Texas-based-creator of an air-core motor, received an equity investment from Caterpillar Venture Capital Inc., the venture capital arm of Caterpillar Inc. (CAT), through Cottonwood Technology Fund.
– The amount of the deal was not disclosed.
– The company intends to use the funds to further expand production of its IEs Series motor systems for industrial applications and the development of a new line of alternators.

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Automotive CRM North America SaaS

DealerPeak Raises $3.075M in Funding

– DealerPeak, a Denver CO-based provider of a CRM in the automotive industry, raised $3.075M in funding.
– The round was led by Geweke Auto Group with participation from Tim Crown, Jim Prendergast and Zach Ferres.
– The company intends to use the funds to expand operations and its business reach.

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Automotive Electric Vehicle Energy Infrastructure North America Robotics Transportation

Ample raises $160M to scale its battery swapping service

– San Francisco-based Ample raised $160m Series C funding.
– The round was led by Moore Strategic Ventures with participation from PTT, a Thai state-owned oil and gas company, and Disruptive Innovation Fund.
– Existing investors Eneos, a Japanese petroleum and energy company, and Singapore’s public transit operator SMRT also participated.
– Ample’s total funding is now $230m.

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Automotive Big Data Car Sharing Information Technology Latin America Rental Transportation

Brazil’s Kovi closes $104M Series B to make car ownership ‘more inclusive’ in LatAm

– São Paulo-based Kovi raised $104m in Series B funding.
– The round was led by Valor Capital Group and Prosus Ventures, and joined by Quona, Broadhaven Ventures, GFC, Monashees, UVC Investimentos, PIPO, Norte, Maya Capital and Globo Ventures.
– The company also recently closed on a $20m debt facility.
– It is not yet a unicorn, according to execs, who declined to reveal valuation.

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Automotive Autonomous Vehicles North America

RepairSmith Raises $42 Million in Funding; Disrupts the Independent Automotive Repair Market with the Only Full-Service Mobile Solution

– RepairSmith is a disruptive technology startup offering the first and only full-service mobile solution for automotive repair and maintenance.
– RepairSmith has raised a $42m Series B funding round from investors, including TI Capital, Mercedes-Benz, Porsche Ventures, and Spring Mountain Capital.
– The company will use this cash infusion to continue rapid expansion of its service, already available in 650 cities across six states with over 100,000 service appointments completed to date.

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Automotive E-Commerce North America

Canada Drives Raises $100M to Bring Online Car Purchasing and Delivery Experience Across Canada

– Canada Drives, Canada’s largest 100% online car shopping and to-your-door delivery platform, announced the close of $100M in funding, led by Jeffrey Housenbold’s Honor Ventures with participation from KAR Global and other strategic investors.
– The investment will be used to further expand Canada Drives service across Canada to new markets.
– Canada Drives was founded in 2010, and has been the largest online automotive finance company in the country, helping over 1M Canadians finance and purchase cars in the past decade.
– In May 2021, Canada Drives expanded its retail model from British Columbia to Ontario, allowing customers to purchase certified used vehicles online and have them delivered as soon as the same-day.

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Automotive Clean Energy Electric Vehicle North America Software Transportation

AmpUp Receives Investment From Goodyear Ventures

– AmpUp, a Cupertino, CA-based provider of electric vehicle (EV) charging solutions, received an investment from Goodyear (NASDAQ: GT)’s Goodyear Ventures.
– The amount of the deal was not disclosed.
– With operations across North America, AmpUp supports the EV driving community through their advanced charging network and software solutions.

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Automotive FinTech North America SaaS

Fuse Autotech Raises $10M in Series A Funding

– Autotech is a Minneapolis, MI-based fintech software platform to improve the car buying process.
– Company raised $10m in Series A funding.
– The round was led by Target Global with participation from PICO Venture Partners, Christopher Muhr, former COO of Auto1, and Escavel Capital.
– The new investment will be used to expand its product and R&D teams.

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Automotive North America Sensor

Innovusion Raises $66 Million in Series B Plus Financing to Accelerate the Global Adoption of Autonomous Transportation

– Innovusion raised $66m in Series B Plus financing.
– The round was led by Guotai Junan International Private Equity Fund (GTJAI) with participation from Shunwei Capital. Existing investors Nio Capital, F-Prime Capital, Eight Roads Ventures, and Temasek also participated in the round.
– Innovusion will use the new infusion of capital to increase the production capabilities of its automotive-grade LiDARs, expand their global footprint, and further broaden its research and development efforts to promote the widespread adoption of LiDAR technology across autonomous vehicles, smart infrastructure, and high-speed rail transit systems.

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Automotive North America Sensor

Innovusion Raises $66 Million in Series B Plus Financing to Accelerate the Global Adoption of Autonomous Transportation

– Innovusion raised $66m in Series B Plus financing.
– The round was led by Guotai Junan International Private Equity Fund (GTJAI) with participation from Shunwei Capital. Existing investors Nio Capital, F-Prime Capital, Eight Roads Ventures, and Temasek also participated in the round.
– Innovusion will use the new infusion of capital to increase the production capabilities of its automotive-grade LiDARs, expand their global footprint, and further broaden its research and development efforts to promote the widespread adoption of LiDAR technology across autonomous vehicles, smart infrastructure, and high-speed rail transit systems.

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Automotive Financial Services FinTech North America

Car IQ Raises $15M in Series B Funding

– Car IQ from Oakland develops a payment solution for fleet vehicles.
– Series B $15m round was led by Forté Ventures with participation from Ally Ventures, BlackBerry Limited, State Farm Ventures, and TELUS Ventures.
– The new investment will be used to expand the company’s business reach.

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Automotive Consumer Financial Services FinTech North America

Carputty Raises $7.2M in Seed Funding

– Carputty, a direct lender re-engineering the car financing business.
– The company has raised $7.2m in a seed round led by Kickstart Fund.
– The funding round also includes a significant investment from others, including Kinetic Ventures, University Growth Fund, Aries Capital Partners, and Atlanta-based entrepreneur John Dancu.

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Automotive Financial Services FinTech Lending North America

MotoRefi Raises Additional $5M in Funding

– MotoRefi, a Washington, DC-based auto fintech startup, raised additional $5m in funding.
Curql Fund made the investment, which enables MotoRefi to become a Credit Union Service Organization (CUSO).
– For credit union partners, like GreenState Credit Union, MotoRefi provides access to more borrowers, adding to their membership base and enabling them to serve their communities at scale.

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Automotive Eastern Asia Freight Service Logistics Transportation

Inceptio Technology Raises US$270M in Series B Financing

– Inceptio Technology is a Shangai, China-based autonomous driving truck technology and operating company.
– Company closed a US$270m Series B equity financing.
– The round was led by JD Logistics (02618.HK), Meituan (03690.HK), and PAG with participation from Deppon Express (603056.SH), IDG Capital, CMB International, SDIC, Mirae Asset, Eight Roads, and Broad Vision Funds, as well as existing shareholders GLP Hidden Hill Capital, CATL (300750.SZ), NIO Capital and Eastern Bell Capital.
– The company intends to use the funds to accelerate the development of its self-developed full-stack autonomous driving system “Xuanyuan”, and speed up its deployment in electrification.

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Automotive Direct Sales E-Commerce Latin America

Brazilian digital auto marketplace InstaCarro revs up with $23M in funding

– InstaCarro, a digital marketplace that connects used car sellers to dealers in Brazil, has raised $23m in a Series B round of funding.
– The round was led by U.S.-based firms J Ventures, FJ Labs and Rise Capital, and joined by Spain’s All Iron Ventures and Big Sur.
– With the latest round, São Paulo-based InstaCarro has now raised more than $56m since its 2015 inception.

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Automotive Energy Information Technology Manufacturing North America

Niron Magnetics Raises $21.3M to Commercialize Rare-Earth Free Magnets for a More Sustainable Electric Economy

– Niron has raised $21.3M in new financing.
Volvo Cars Tech Fund and Volta Energy Technologies join existing investors Anzu Partners and the University of Minnesota.
– Niron will use the funding to build its pilot production facility in Minnesota and accelerate the development of its Clean Earth Magnet™ technology.
– Surging global demand for electric vehicles (EVs) and other motorized devices has highlighted global dependency on the unsustainably-produced rare earth materials currently required for the magnets needed in electric drivetrains and motors.
– Niron’s Clean Earth Magnet™ technology, developed from a decade of research, leverages materials science innovations to eliminate the need for rare earth content in magnets. Instead, Niron utilizes some of the most common elements on earth – iron and nitrogen – to deliver better performance and lower costs.

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Augmented Reality Automotive Eastern Asia Software

Raythink Raises Tens of Millions of Yuan Series A Funding

– Raythink, a Shenzhen, China-based in-vehicle AR display technology company, raised an undisclosed amount in Series A funding.
– The round – of tens of millions of yuan – was led by Plum Ventures with participation Qianhai FOF, Weed Ventures, Oriental Fortune Capital.
– The company intends to use the funds for a rail transit laboratory, HUD (heads-up display) mass production and automotive-grade certification.

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Automotive Car Sharing North America

Rodo Raises $18M in Series B Financing

– Rodo, Inc. is a NYC-based car ecommerce platform.
– The company raised $18m in Series B funding round.
– The round was led by Holman Enterprises and Evolution VC Partners with participation from existing investor IAC along with Kevin Hart’s HartBeat Ventures and auto industry veterans Mack McLarty, Vice Chairman of RML Automotive, and Franklin McLarty, Chairman and CEO of McLarty Diversified Holdings and Ken Schnitzer, former Chairman of Park Place Automotive Group.
– The company intends to use the funds to scale its dealership network nationwide and invest in marketing and customer acquisition.

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Artificial Intelligence Automotive Autonomous Vehicles Computer Vision Internet of Things Machine Learning North America Robotics Software

Algolux Closes $18.4M Series B Funding

– Algolux, a Montreal, QC, Canada-based computer vision software company, raised $18.4M in Series B funding.
– The round was led by Forte Ventures and Drive Capital with participation from Investissement Quebec, Castor Ventures, Nikon-SBI Innovation Fund, GM Ventures, Generation Ventures and Intact Ventures.
– The company intends to use the funds to achieve the following three goals: accelerate adoption of its products across mobility markets; grow its engineering and customer enabling teams to scale worldwide support; grow its engineering and customer enabling teams to scale worldwide support.

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Automotive Electric Vehicle Leasing Price Comparison Western Europe

WeVee Raises $7M Seed Funding

– WeVee is a London UK-based electric vehicle leasing platform.
– The company raised $7M in seed funding.
– The round was led by German entrepreneurs Rahmyn Kress and Michael Perschke, who joined WeVee Founder Paul Fagan as cofounders and board members.
– The new funding will be used to expand its eMobility lifestyle platform into Germany and Europe later in the year.

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Automotive Electric Vehicle Manufacturing North America Transportation

Amazon leads $2.5B funding round in Rivian, maker of the tech giant’s future electric delivery vans

Amazon is pouring more money into Rivian, as the electric vehicle maker announced that the tech giant was among lead investors in a $2.5 billion financing round.
Amazon made the investment through its Climate Pledge Fund, which is aimed at backing companies that accelerate Amazon’s pledge to be net zero carbon across its businesses by 2040.
– The company previously backed Rivian in 2019 in rounds of $700 million and $1.3 billion, and it’s planning to buy 100,000 electric vans from the automaker for its delivery fleet.
Amazon said last October that it will have 10,000 custom electric delivery vehicles on the road as early as 2022, and all 100,000 by 2030.

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Apps Automotive Cloud Data Services Information Technology North America Software

Sonatus Raises $35M in Series A Financing

– Sonatus, a Sunnyvale, Calif.-based automotive software company, raised $35m in Series A funding.
– The round was led by Translink Capital with participation from Hyundai Motor Group’s Kia Corporation, SAIC Capital, LG Electronics, Marvell, UMC Capital, and Wanxiang Group Company.
– The new investment will be used to accelerate global growth and further expand its roadmap of next-generation software-defined vehicle solutions.

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Automotive Autonomous Vehicles Eastern Asia Software

Venti Technologies Announces $8 Million Funding To Continue Scaling its Autonomous Mobility for Logistics, Supply Chain and Transportation Markets

– Venti Technologies has secured approximately $8m in a seed round funding.
– The financing round was led by LDV Partners and Alpha JWC Ventures, leaders in supporting pioneering technical teams to build winning companies in their spaces.
– The investment will further Venti’s leadership in producing AI-enabled autonomous logistics transport, including fulfilling new and existing customer agreements with PSA Corporation, a global ports operator with 60 ports under management; automotive manufacturers including SAIC Volkswagen and SAIC-GM; the world’s largest automotive logistics provider, SAIC Anji Logistics Tech, and Seedland, a top Asian real estate developer and operator.

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Automotive Autonomous Vehicles North America Software Transportation

Ghost Pulls In $100M Series D Round

– Ghost has announced the closing of a $100m Series D financing.
– Returning investors Sutter Hill Ventures and Founders Fund participated in the round, along with a new commitment from Coatue.
– The financing is fueling the development of its autonomous driving system that features a revolutionary breakthrough in crash prevention.

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Analytics Automotive North America Software

Driven Data Raises $4.5M in Series Seed B Funding

– Driven Data is an Indianapolis IN-based software marketing provider and digital marketing agency serving the automotive retail industry.
– The company raised $4.5M in Series Seed B funding.
– The round was led by Rick Gibbs and JHCapital.
– The new investment will be used to accelerate growth, expand operations and its business reach.

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Automotive North America

Sustainable Electric Motor Company Enedym Inc. Secures $15 Million Investment to Accelerate Business Plan

– Enedym announced a $15m financing round from an international group of strategic investors.
– The round was led by P&A Paletta Giving Inc., TRIO Capital Group Inc., Napino Group, KWG Capital Inc., Pathfinder Asset Management Limited, and others.
– The new investment will be used to accelerate Enedym’s patented motor development technology and increase its footprint within the massive electric motor market.
– The Company is focused on the digitization of next-generation electric propulsion and electrified powertrains.
– Enedym has ownership of over 50 patents and significant IP in the space.
– The Enedym team has developed a disruptive way to design electric motors at a fraction of the time and cost of existing methods.

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Automotive Hospitality North America Ride Sharing Transportation

Alto Announces Closing of $45M Series B Financing

– Alto, a leader in ride-hailing and private transportation currently operating in Dallas, Houston, and Los Angeles, has announced the successful completion of a $45M Series B financing — the company’s largest round of funding and infusion of capital to date.
– Alto is the first ride-hailing provider to hire W-2 employee drivers and manage its own fleet of company-owned vehicles.
– Through its unique business model, Alto is on a mission to create remarkable journeys by providing the safest, most consistent, and highest quality ride experience for passengers and drivers alike.
– The Series B financing was co-led by Tuesday Capital and Goff Capital. New investors in the round include Franklin Templeton, Alumni Ventures Group, Senterra, Green Park & Golf Ventures, and Hope Ventures Capital.

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Automotive Western Europe

Caura Raises $4.2M in Seed Funding

– Caura is a London, UK-based vehicle management platform.
– The company raised $4.2m in seed funding led by TwinFocus Capital Partners with participation from InMotion Ventures (the CVC arm of Jaguar Land Rover), Road Ventures, Pareto Holdings and Quiet Capital, as well as Jon Oringer, founder of Shutterstock, Antony Sheriff, former CEO of McLaren Automotive, and Rob Wilmot, serial entrepreneur, investor, and advisor to the UK Government, and unnamed Apple and Google executives.
– The new investment will be used to expand its products, including a new B2B offering for car manufacturers.

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Automotive Direct Sales E-Commerce Platforms Marketplace Southeast Asia

Automotive marketplace Carro hits unicorn status with $360M Series C led by SoftBank Vision Fund 2

– Carro, a Southeast Asia-based automotive marketplace, raised $360m funding.
– The round was led by SoftBank Vision Fund 2 and joined by insurance giant MSIG and other investors.
– The company plans to use the funding to expand its financial services portfolio and develop its AI capabilities.

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Automotive Consumer Reviews E-Commerce Electric Vehicle Marketplace Western Europe

Motorway’s auction platform for second-hand cars raises $67.7M Series B led by Index Ventures

– Motorway, a U.K. startup that allows professional car dealers to bid in an auction for privately owned cars for sale, has raised £48m in Series B funding.
– The funding was led by Index Ventures and joined by BMW i Ventures and Unbound, and existing investors Latitude and Marchmont Ventures also participated.
– The funding will be used to extend its platform and grow the current 160-strong team.

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3D Technology Automotive Autonomous Vehicles Western Europe

Scantinel Photonics Raises € 7.5M in Funding

– Scantinel Photonics GmbH from Ulm, Germany develops FMCW LiDAR (Frequency Modulated Continuous Wave) sensors for next-generation LiDAR systems that are a prerequisite to reach a higher level of automation.
– The company raised € 7.5m in funding.
– The round was led by Scania Growth Capital, Scania’s corporate venture capital-fund.
– The company intends to use the funds to continue to further improve FMCW LiDAR technology, and to commercially implement this technology in close cooperation with customers and technology partners.

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Automotive Financial Services FinTech Lending North America

Goldman Sachs leads $45M investment into auto fintech startup MotoRefi

– MotoRefi, a fintech startup, raised $45m in a round led by Goldman Sachs.
– The round was joined by IA Capital as well as returning backers Moderne Ventures, Accomplice, Link Ventures, Motley Fool Ventures and CMFG Ventures.
– The company has raised $60m since its inception in 2016.

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3D Technology Automotive Autonomous Vehicles Western Europe

Scantinel Photonics GmbH, a ZEISS Ventures Portfolio-Startup, Announces Series-A Financing Round via Scania Growth Capital as Lead Investor

– Scantinel, a leading LiDAR startup, which develops and produces FMCW LiDAR (Light Detection and Ranging) sensors for the next-generation LiDAR systems for autonomous vehicles (AV) has received growth financing through Scania Growth Capital.
– LiDAR is considered the key technology for safety of autonomous vehicles.
– FMCW LiDAR – a bulky abbreviation for a disruptive technology – will help autonomous driving to achieve a breakthrough and, according to experts, will displace the currently used Time of Light (TOF) LiDAR systems from the market.
– Scantinel offers unique FMCW LiDAR technology that delivers a new dimension of data to make cars safer and, eventually, autonomous.

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Automotive Manufacturing North America

Infinitum Electric Raises $40 Million in Series C Funding Led by Energy Innovation Capital

– Infinitum Electric, creator of the breakthrough air-core motor, announced $40 million in Series C funding to scale production of its ultra-high-efficiency, lightweight motors.
– The investment will be used to expand production of the company’s IEs Series motors for commercial and industrial applications and complete development of its IEm Series motors for the rapidly growing electric vehicle market.
Energy Innovation Capital led the round with Infinitum Electric’s existing investors Cottonwood Technology Fund, Chevron Technology Ventures and Ajax Strategies participating. Rockwell Automation also purchased an equity stake in Infinitum Electric, bringing the company’s total funding to date to $55 million.

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Automotive North America Sensor

Oculii Raises $55M in Series B Funding

– Oculii, a maker of high-resolution commercial imaging 4D radar, raised $55M in Series B funding.
– The round was co-led by Catapult Ventures and Conductive Ventures, with participation from Taiwania Capital, Susquehanna Investment Group (SIG), HELLA Ventures, PHI-Zoyi Capital, R7 Partners, VectoIQ, ACVC Partners, Mesh Ventures, SV Tech Ventures, Schox Ventures, and Signature Bank.
– The new funding will be used to scale and deliver on demand of Tier-1’s and OEMs globally.

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Automotive Banking Consumer Lending Financial Services Information Technology Logistics North America Software Venture Capital

Informed.IQ Raises $20M in Series A Funding

– Informed.IQ, a San Francisco, CA-based technology company used by financial institutions to verify income, assets, residence, and other loan origination data and documents, raised $20m in Series A funding.
– The round was co-led by Nyca Partners and US Venture Partners with participation from angels such as Manuel Bronstein, former VP of Product at Google and Dan Romero, former VP of Coinbase.
– The company intends to use the funds to expand its business reach.

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Artificial Intelligence Auto Insurance Automotive Financial Services FinTech Insurance InsurTech North America

AI-powered Jerry raises $28M to help you save money on car insurance

– Jerry, a mobile-first car ownership “super app,” has raised $57m funding.
– The round was led by Goodwater Capital and joined by angel investors including Greenlight president Johnson Cook and Greenlight CEO Timothy Sheehan; Tekion CEO Jay Vijayan; Jon McNeill, CEO of DVx Ventures and former president of Tesla and ex-COO of Lyft; Brandon Krieg, CEO of Stash and Ed Robinson, co-founder and president of Stash.
– The company plans to use the new capital to move into other categories of car ownership.

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Artificial Intelligence Auto Insurance Automotive Financial Services FinTech Insurance InsurTech North America

Jerry Raises $28M in Series B Funding

– Jerry Services, Inc. provides customized quotes from more than 45 insurance carriers quickly.
– The round was led by Goodwater Capital with participation from Jay Vijayan, CEO of Tekion; Jon McNeill, CEO of DVx Ventures (former president of Tesla and COO of Lyft); Brandon Krieg, CEO of Stash; Ed Robinson, co-founder and president of Stash; Johnson Cook, president of Greenlight; and Timothy Sheehan, CEO of Greenlight.
– The new funding will be used to scale the car insurance product and hire talent to expand its marketplace into additional categories.

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Automotive North America Sensor

Image-Grade LiDAR Company Innovusion Raises $64 Million

– Innovusion is a worldwide leader in the design and development of image-grade LiDAR (Light Detection and Ranging) systems.
– The company raised $64m in Series B funding.
– The round was led by Temasek, BAI Capital, and Joy Capital.
– Existing investors NIO Capital, Eight Roads Ventures, and F-Prime Capital also participated in the round.
– The funding will be used to increase the production capabilities of its automotive-grade LiDARs, support supply-chain partners for mass production capabilities, and further expand Innovusion’s research and development efforts around advanced LiDAR Technologies.
– Innovusion’s products are widely used across autonomous vehicles, smart cities, high-speed rail transit systems, and have been recognized by clients as a top performer.

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Automotive Big Data North America Sales Automation

Auto parts data platform PDM Automotive raises $4M after doubling revenue in 2020

– PDM Automotive, a 3-year-old company that runs an automotive product data platform for manufacturers and receivers, raised a $4m round led by FUSE.
– The startup provides information on aftermarket automotive parts and other data to companies such as Walmart, Advance Auto Parts, Autozone, Amazon, and eBay.
– Large automotive parts companies also manage their catalog data with PDM.

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Automotive Manufacturing North Africa and the Middle East

Israel’s electric powertrain maker IRP Systems raises a $31M Series C

– IRP Systems, a maker of innovative electric powertrains for electric vehicles, raised $31m Series C funding.
– The round was led by Clal Insurance and Altshuler Shaham, which are Israeli institutional investors.
– Also participating was Samsung Ventures, Renault-Nissan importer Carasso Motors and Shlomo Group, as well as existing investors such as Entrée Capital, Fosun RZ Capital and JAL Ventures.
– The company will use the new case to scale the development of its systems for EVs and reduce the path to mass production, expand R&D, operations and customer support and make a push on global sales and marketing.

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Automotive Digital Entertainment Digital Media Software Virtual Reality Western Europe

Audi spinoff holoride collects $12M in Series A led by Terranet AB

– Holoride, a Swedish ADAS software development company, raised €10m in Series A funding.
– The round was led by Terranet and joined by Chinese financial and automotive technology investors, organized by investment professional Jingjing Xu, and educational and entertainment game development company Schell Games.
– Holoride will use the fresh funds to search for new developers and other talent both as it prepares to expand into global markets like Europe, the United States and Asia, and in advance of its summer 2022 launch for private passenger cars.
– Holoride is on a mission to revolutionize the passenger experience by turning dead car time into interactive experiences that can run the gamut of gaming, education, productivity, mindfulness and more.
– Holoride is manufacturer-agnostic.

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Asia Automotive Electric Vehicle Manufacturing

Vietnamese electric motorbike startup Dat Bike raises $2.6M led by Jungle Ventures

– Dat Bike, a Vietnamese startup with ambitions to become the top electric motorbike company in Southeast Asia, has raised $2.6m in pre-Series A funding.
– The round was led by Jungle Ventures and included participation from Wavemaker Partners, Hustle Fund and iSeed Ventures.
– The company’s flagship motorbike, called Weaver, was created to compete against gas motorbikes.
– Dat Bike opened its first physical store in Ho Chi Minh City last December.

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Automotive Electric Vehicle Electronic Design Automation (EDA) Information Technology North America

Faraday Future Announces it has Raised $100 Million in Debt Financing to Help Advance the Countdown to FF 91 Delivery, Following the Signing of the Merger Agreement with Property Solutions Acquisition Corp (PSAC)

– Faraday Future announced that it has raised approximately US$100m in debt financing commitments led by Ares.
– The new funding allows FF to build upon the momentum of a well-developed vehicle program and begin production preparation at FF’s manufacturing facility in Hanford, California and advance the countdown of the delivery of the FF 91, which is planned for approximately 12 months after the close of its previously announced merger with Property Solutions Acquisition Corp (“PSAC”).

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Africa Automotive E-Commerce Rental Subscription Service

South Africa’s FlexClub adds $5M to seed round to scale its car subscription marketplace

– FlexClub, a South African company, has been provided with $5m to improve drivers’ experience in emerging markets.
– The company is an online marketplace that connects customers looking for flexible access to long-term cars with its partners.
– It offers car subscriptions.

Source
Automotive Cloud Computing North America

ADDING MULTIMEDIA Damon Motors Raises $30M; Secures $20M in Preorders

– Damon Motors today announced it has raised more than $30M in funding, completing a bridge round led by Benevolent Capital, SOL Global Investments, Zirmania, and others.
– The financing couples with skyrocketing preorder sales that have now reached $20M for the exhilarating line of HyperSport motorcycles.
– The capital raised will further fuel Damon’s path to market and enable demo tours, pre-production development and testing, and associated hires.
– Damon has also expanded its board of directors with the additions of Jaques Clariond and Howard Wu.
– The Damon HyperSport sets a new standard in motorcycle safety, awareness and connectivity.
– It boasts well over 200hp and 200nm of torque delivered at zero rpm, a top speed of 200 mph, a range of more than 200 highway miles per charge.

Source
Asia Automotive

Service My Car Raises $10M in Series A Funding

– Service My Car is a Dubai, UAE-based tech-enabled car-servicing platform.
– The company raised $10m in seed funding led by Bahwan from Oman.
– The new investment will be used to expand into the GCC by the end of year and extend services offered with car detailing, service contracts, roadside assistance, 4×4 accessories, insurance, rental and mobile service.
– It can be accessed from their iOS and Android app, Website and their customer care support, shortly from all GCC countries.

Source
Artificial Intelligence Automotive Information Technology Logistics North America Robotics Supply Chain Management

Delivery startup Refraction AI raises $4.2M to expand service areas

– Refraction AI, a company developing semi-autonomous delivery robots, today announced that it raised $4.2 million in seed funding led by Pillar VC.
– Refraction says that the proceeds will be used for customer acquisition, geographic expansion, and product development well into the next year.
– The worsening COVID-19 health crisis in much of the U.S. seems likely to hasten the adoption of self-guided robots and drones for goods transportation. They require disinfection, which companies like Kiwibot, Starship Technologies, and Postmates are conducting manually with sanitation teams. But in some cases, delivery rovers like Refraction’s could minimize the risk of spreading disease.

Source
Artificial Intelligence Automotive Autonomous Vehicles North America

Gatik to winterize self-driving box trucks through partnership with Ontario government

– Gatik, a startup developing an autonomous vehicle stack for B2B short-haul logistics, today announced it has secured CAD$9 million (~$7.12 million), with CAD$1 million coming from a partnership with Ontario’s Autonomous Vehicle Innovation Network (AVIN).
– Gatik says the AVIN collaboration — part of an Ontario government program providing R&D, business, technical, and talent support, as well as vehicle test tracks — will help it understand how inclement weather affects its vehicles’ movements.
– Some experts predict the pandemic will hasten adoption of autonomous vehicles for delivery. Self-driving cars, vans, and trucks promise to minimize the risk of spreading disease by limiting driver contact. This is particularly true with regard to short-haul freight, an estimated 30% of which takes place in snowy and icy conditions.

Source
Automotive Autonomous Vehicles E-Commerce Europe

Carvolution Raises CHF15M in Series C Funding

– Carvolution is a Bannwil, Canton Bern, Switzerland-based car subscription company.
– The company raised CHF15m in Series C funding.
– The round was led by Francisco Fernandez, founder of the Avaloq Group, as well as Ringier Digital Ventures.
– The new investment will be used to advance product development, continue market expansion, and grow the team.

Source
Automotive E-Commerce Internet North America

Gettacar Raises $25 Million To Continue Building the Best Car Buying & Ownership Experience

– Gettacar, the online car buying start-up that makes the car buying and ownership process easy, today announced $25m in funding, bringing the total raised to $48m.
– The round was led by 3L and Luxor Capital, with additional participation from Torch Capital.
– Gettacar will use the new funding to continue investing in the customer experience, expand into additional markets, and product development.
– Gettacar plans to launch in additional U.S. markets in 2021.

Source
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