Aftermarket:
Wheel Pros, a designer, manufacturer and distributor of proprietary branded aftermarket vehicle enhancements for light trucks, SUVs, passenger cars and ATVs/UTVs backed by Clearlake Capital Group, has acquired throtl Inc, an aftermarket e-commerce platform for automotive and off-roading enthusiasts. (Link to article)
Vehicle Connectivity:
A multi-million-dollar investment from Decathlon Capital Partners will support the industry leadership of Zubie, as it expands its fleet-management platform and launches new service capabilities. (Link to article)
Shared Mobility & Subscription:
SOCAR, a south Korean car-sharing startup, has filed for an IPO. The details — the number of shares to be offered in the IPO and the price range — have not yet been determined. SOCAR has reached approximately $834 million (1 trillion won) valuation after raising $50.7 million (60 billion won) in October 2020. The company has raised a total of about $275 million since its inception in 2011. According to media reports, SOCAR’s estimated valuation is to be $2.5 billion (3 trillion won) after the listing in the first half of this year. (Link to article)
ALD Automotive and LeasePlan, two of the world’s largest fleet leasing companies, announced Jan. 6 they will combine forces to create a leading global mobility player that would further the digital transformation of the industry. (Link to article)
Electrification:
StoreDot, the pioneer of extreme fast charging (XFC) battery technology for electric vehicles, has announced the first close of its Series D funding round of up to $80 million, the majority of which have already been secured. (Link to article)
