This quarter was rife with crunchy deals and moves for startups and stalwarts in the auto segment. Join us as we analyze the latest developments, major players, and potential opportunities in this thriving segment. Whether you are an avid investor or simply curious about the future of sustainable mobility, this blogpost promises to entrall you with valuable insights in the auto tech investment terrain.
Top three investment trends in Q2 2023
Electric vehicles: investors are acknowledging the need for the fortification of autonomous vehicles and associated infrastructure from cyberrisks. For this, the segment has received $66.1 million in funding this quarter. With this injection, firms in the segment are expected to renew their secure-manage-comply mantra for tamper-proofing information exchange in vehicles.
Autonomous vehicles: $53 million went into the development of autonomous vehicles and technologies fueling autonomous driving.
Connected vehicles: this sub-segment pulled in $2 million in funding as companies unlock the value of data over mobility applications. The funds will also be directed towards improving vehicle user experience, safety, performance, interoperability and reliability.
Most-funded Autotech Segments in Q2 2023
Self-driving vehicle technology: Ghost Autonomy and AutoCore secured an impressive $50 million in venture funding for the continuance of their self-driving technology development for autonomous vehicles. Ghost Autonomy is a Californian autonomous driving software maker that has made a breakthrough in AI to make highway autonomous driving safe and scalable. Established in 2018, AutoCore quickly emerged as a world-leading smart mobility software developer, providing full stack in-vehicle networking support for buses.
Powertrain systems for aerial vehicles: Whisper Aero’s focus on aerial vehicles has paid off. The company, committed to ushering the next generation of electric propulsion, has secured a tantalizing $32 million in development money for powertrain systems for airborne vehicles. Elsewhere in electric car funding, electric kick scooters ($17.3 million) and vehicle management solutions($7 million) are tipped for great things.
Cloud-based platforms: connected vehicle data collection, management and distribution is a problem companies such as Cerebrum X and Preteckt are solving to enhance the connected vehicles subsegment. This quarter, these companies received the entire $2 million in funding allocated.
Most-funded autotech companies in the US in Q2 2023
Ghost autonomy: the American company founded in 2017 is helping automakers to reimagine cars of the future through bespoke AI-driven software. For their efforts, they are furnished with $50 million this quarter.
Whisper Aero: this brand is leading the new generation of electric propulsion systems. Suave investors backed this clean, quiet-air aircraft manufacturer this quarter with $32 million. Whisper Aero promised jet propulsion systems that are 20 times more efficient and 100 times quieter than any other aircraft that you can find on the market.
Unagi Scooters: $17.3 million went to the coffers of Unagi Scooters, premier producers of portable electric-scooters. The startup looks to ease the discomfort associated with public transportation with commuter-friendly scooters with high power and range.
Automotive technologies trending on social media
Let’s turn our gaze on the main keywords related to automotive technologies trending on social media. We have “electric cars,” “trim level automobile,” “self driving car,” “on-board dignostics,” “adaptive cruise control,” among others.
Hot stories from automotive giants
Development launch and termination: find out what Volvo hopes to acheive with their new office in Fort Worth, Texas. Porche just entered the metaverse and is collaborating wtih one of the biggest names in the niche.
Business expansion: BMW is breaking new ground with a battery facility in Woodruff, US. This is expected to bring jobs to residents in and around the location as well as Foreign Direct Investment (FDI). Elsewhere, Toyota is expanding its US battery plant operations to produce battery electric vehicles (BEVs) by 2025 as a direct response to the increase in the demand of battery-powered automobiles.
Partnerships: it’s batteries, batteries and more batteries this quarter.Companies such as Siemens, Volkswagen, Hyundai, NVIDIA, and Tesla are invested in clean battery cells. Even the Biden Administration is in on the action.
Are you interested in staying informed on the latest news and initiatives from the auto tech segment in the United States? Keep an eye out for investment updates. We regularly update our followers with the most exciting investment opportunities in the auto world.
