Natron Energy, maker of sodium-ion batteries, raised $7 million from Nabors Industries. MOVS, a Swedish micromobility subscription service, raised $4.3 million to expand across Europe. New investors include CP Overture, Breakout Capital and Two Lanterns Venture Partners.
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Koffie Insurance, Brooklyn, New York-based trucking and transportation insurance company, raised $11 million in a Series A funding round led by Anthemis Group, along with existing investors Lerer Hippeau Ventures and Plug and Play Ventures. Gbike, a Korean e-scooter company, acquired Hyundai’s micromobility platform ZET. Here are some other deals that got my attention this week.īain Capital and an Abu Dhabi Investment Authority subsidiary agreed to acquire Merchants Automotive Group, DBA Merchants Fleet and Merchants Auto. I interviewed the trio during the TC Sessions: Robotics event last week.įaulk revealed during the interview that Locus is planning for an IPO in the next 12 to 18 months. And growth appears to be limitless, according to Locus Robotics CEO Rick Faulk, Berkshire Grey SVP Jessica Moran and Melonee Wise, who founded Fetch and is now VP of robotics automation at Zebra Technologies. This fruitful convergence has led to acquisitions and large funding rounds for warehouse robotics startups. More of a deal ecosystem that has been created by Amazon’s drive to get as many products to customers as quickly as possible combined with a decade of technological breakthroughs, a labor shortage and skyrocketing e-commerce growth. ZapBatt has partnered with Toshiba to create a new battery option for micromobility, one that’s based on lithium titanium oxide, which the companies say make for a faster, smarter and efficient battery. YES Scooter has come out with a very cute e-scooter that goes up to 15 mph and costs $599. Weel has a new self-balancing bike that’s made without chains or gears, but with plenty of smart vehicle capabilities - including sensors like camera, radar and lidar. Tier says Parrot gives scooters improved positioning and geo-fencing capabilities. Tier is piloting its first in-house developed IoT module, named “Parrot,” in London and then Norway and France. Swytch is showing off its not-quite-pocket-sized-but-still-really-small batteries that are a part of the company’s DIY e-bike conversion kit. The minimalistic design includes a concealed battery and motor, a digital dashboard, phone charging functionality and more. Mercedes-EQ Formula E team have created a collection of sleek-looking, high-performance, luxury e-bikes. Ola Electric is investing $500 million to set up a battery innovation center in India following a string of moped fires. Hawaii residents can now get an e-bike rebate of $500, capped at 20% of the purchase price. GetHenry, a maker of bikes and trikes, shall henceforth be known as Cycle, Haje Kamps reports, as he scratches his head at the un-originality of the new name choice. between January and May as gas prices soar. Let’s jump right in with this past week’s news.Ĭargo e-bike sales have doubled in the U.K. Welcome to the world of tiny electric vehicles. You also can send a direct message to Micromobbin’ Take a listen.Īs always, you can email me at to share thoughts, criticisms, opinions or tips. It’s rare that a founder will speak so candidly and so soon after a collapse like this. Autonocast, the podcast I co-host with Ed Niedermeyer and Alex Roy, recently sat down with Sam Anthony about the startup’s collapse, what he learned and his thoughts about the AV industry. Perceptive Automata was one of those to suddenly close.
In some other cases, entire companies are shutting down. Other executive shuffling includes Volkswagen of America CEO Scott Keogh leaving to head up VW’s new spinoff EV brand Scout. Blume is apparently staying in the top spot at Porsche and running all of VW Group. Porsche boss Oliver Blume is taking his spot, which leaves me with many questions, including how this might affect Porsche’s plans for an IPO. The company announced his departure Friday just hours after Diess published a pep talk-like LinkedIn post. I did expect this day to come, but not now and not in this manner. The embattled CEO has been on the ropes, so to speak, for awhile now. VW Group CEO Herbert Diess is leaving - and rather suddenly. Put another way, lots of companies from automakers and tech giants to suppliers and startups are restructuring, shuffling executives and laying off staff. When I zoom out though, it’s looking a lot more like the summer of the course correction. Last week I noted that July is the summer of the EV truck (for me). Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. Sign up here - just click The Station - to receive it every weekend in your inbox. The Station is a weekly newsletter dedicated to all things transportation.
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