Last Week’s Auto-Tech Transactions (12/13 – 12/17):


Vay, a company that is trying to get self-driving car services to market faster by pursuing a teledriven approach, has raised a $95 million Series B round to help it launch its first commercial service in Hamburg, Germany sometime in 2022. The startup plans to offer a transportation service where a user can order a car to be delivered to their door, drive the car themselves to their destination and then just hop out, leaving the job of parking it to the remote operator. New investors Kinnevik AB, Coatue Management and Eurazeo participated in the round alongside existing investors Atomico, La Famiglia VC and CREANDUM. Other participants include Project A Ventures, Visionaries Club and signals Venture Capital. (Link to article)



Shares in eVTOL aircraft developer Vertical Aerospace began trading this week on the New York Stock Exchange after shareholders in special-purpose acquisition company (SPAC) Broadstone Acquisition Corp. approved a merger with the UK-based startup eVTOL manufacturer. Around $300 million is expected to be raised from the flotation and the issuance of convertible senior secured notes. (Link to article)



ePROPELLED, a Massachusetts-based electrical manufacturing startup, has raised $15 million in Series A funding to create more efficient motors and generators using electric propulsion. (Link to article)

Harley-Davidson Motor Company is taking its electric motorcycle division LiveWire public through a merger with a blank check company sponsored by executives of AEA Investors LP and Bridges Fund Management Ltd. (Link to article)

Forum Mobility, a zero-emission fleet and infrastructure provider, has raised $7.5 million in seed funding to build its operations, broaden its team, and further product development. (Link to article)

John Deere has signed a definitive agreement to acquire majority ownership in Kreisel Electric, a battery technology provider based in Austria. Kreisel develops high-density, high-durability electric battery modules and packs. Additionally, Kreisel has developed a charging infrastructure platform (CHIMERO) that utilizes this patented battery technology. (Link to article)


Dealer Tech & Auto Commerce:

360Converge, Inc., a provider of communication workflow automation in automotive, announced the acquisition of Valuinsight, LLC, an inventory analysis platform that can enable automated equity mining for inventory acquisition. (Link to article)

Bumper, a UK-based auto fintech startup, raised $12M in Series A funding. The round was led by Autotech Ventures, with participation from Jaguar Land Rover’s fund InMotion Ventures, and a group of prominent angel investors. (Link to article)

Automotive aftermarket services platform Otoklix has raised US$10 million in a Series A round co-led by Indonesia-based venture capital firms Alpha JWC Ventures and AC Ventures. Sequoia Capital India’s Surge also participated in the round. (Link to article)


Vehicle Assembly & Supply Chain

Porsche Ventures has made a strategic investment in INTAMSYS, a world-leading 3D printer manufacturer that specializes in high-performance materials. (Link to article)

Apex.AI has attracted Continental and ZF Group in a Series B $56.5 million fundraising round led by Orillion. AGCO Corporation, Canaan, Lightspeed Venture Partners, Airbus Ventures, Jaguar Land Rover’s InMotion Ventures and others participated in the round. The startup provides automakers and other mobility companies a toolkit to integrate software applications into their vehicles. (Link to article)


Commercial Vehicle Tech & Logistics

Solvento, a Mexico City-based digital platform providing trucking companies with access to capital, announced Monday it has raised $4.5 million in a fundraising round led by Dynamo Ventures. Other participants included Wollef Ventures and Zenda Capital, along with a $3 million debt facility from Marco Financial. (Link to article)

TrueNorth has closed a $50 million Series B funding co-led Stripe executive Lachy Groom and Y Combinator’s Sam Altman. Other investors include Flexport Fund, Tribe Capital, Original Capital, K5 Global, 137 Ventures and Fifth Down Capital. (Link to article)

Technology-enabled trucking company aifleet announced Monday it has closed on a $21 million series A round led by Obvious Ventures with participation from Compound, Ibex Investors, and angel investor Tom Williams. (Link to article)

As supply chains around the world struggle to deliver goods on time, Tiger Global Management and SoftBank Group Corp. are backing nowports, a Latin American logistics startup specializing in digital freight forwarding with plans to expand rapidly in Brazil in 2022. (Link to article)