With no shortage of venture capital (VC) funds in Silicon Valley and beyond, one VC firm has elected to focus its entire effort on one fast-growing niche. Founded out of Menlo Park, California in 2015, Autotech Ventures has set up shop with a specific focus on automotive startups, bankrolling multi-stage companies that operate across such areas as […]
Autotech Ventures Closes Oversubscribed $120M Inaugural Fund to Invest in Cutting-Edge Ground Transportation Startups
Venture capital firm will use funds to pursue multi-stage investment opportunities solving ground transportation’s most pressing problems MENLO PARK, CA–(Marketwired – Jul 12, 2017) – Autotech Ventures, a specialist venture capital firm based in Silicon Valley, today announced that it launched its inaugural fund of more than $120M to invest in startups revolutionizing ground transportation. […]
Work Truck Solutions Raises $5 Million to Expand Service Offerings to Work Truck Dealers, Body Manufacturers and Distributors
Work Truck Solutions announced today it has completed a Series B Preferred Stock financing round of $5 million. The company is the industry leader in the commercial truck inventory solutions market. Kathryn Schifferle, CEO and founder of Work Truck Solutions, stated that the company will use this new round of funding to accelerate expansion of […]
Quin Garcia, AutoTech Ventures managing director, explains how the company is reinventing ground transportation. He speaks with Bloomberg’s Shery Ahn on “Trending Business.”
AutoTech Ventures LLC wants to be the talent scout for startups reinventing ground transportation. The venture capital firm, based in Palo Alto, California, has raised about $75 million to bankroll early-stage technologies enabling autonomous driving, improved cybersecurity in cars, entertainment systems and other automotive next big things.
Auto-parts makers and component suppliers, including Denso Corp., Mahle GmbH. and Murata Manufacturing Co. Ltd., were among the investors in the firm, founded last year. As limited partners, they’ll get a share of AutoTech Ventures’ returns. “We aren’t in it for financial return — it’s all strategic,” said Tony Cannestra, director of corporate venture at Japan-based automotive components company Denso. He said the number of tech startups in transportation has more than doubled since he began investing in such companies almost five years ago, making it harder to hone in on the potential winners.