Startup Funding: March 2021
Self-driving vehicles revved up investors in March, with two companies receiving over $200M apiece as they prepare for their systems to enter mass production. One focuses on software for passenger vehicles, while the other is looking to autonomous trucks. Both of the companies received investment from automakers, with China’s largest carmaker SAIC joining each of the funding rounds. It was also a good month for startups making chips for AI acceleration, with four companies from seed to Series D stages raising funds. Plus, two companies are looking to shake up the memory and storage space with some unique solutions. This month, we take a look at 24 startups that collectively raised over $1.3B.
15-year fitment forecasts for 20 automotive component sectors including:
Vehicles and markets ⢠Connected vehicle technologies ⢠Electrified vehicles ⢠Lightweighting ⢠Chassis and safety ⢠Active and passive safety ⢠Electronic braking systems ⢠Foundation braking systems ⢠Shock absorbers ⢠Steering systems ⢠Interiors ⢠Door modules ⢠Heating, ventilation and air-cooling ⢠Seating systems ⢠Exteriors and materials ⢠Glazing systems ⢠Roof systems ⢠Powertrain and transmission ⢠4WD and AWD ⢠Engine technologies ⢠Transmission and clutch ⢠Turbochargers ⢠Electrics and electronics ⢠Battery technologies ⢠Electric motors ⢠Lighting - plus OEM and supplier company profiles and extended automotive news.
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Self-driving truck company Plus adds $220M to recent fundraising bringing total to $420M
Plus (formerly Plus.ai), a provider of self-driving truck technology, added $220 million in new financing co-led by FountainVest Partners and ClearVue Partners, with participation from Quanta Computer Inc., Phi Zoyi Capital, and Millennium Technology Value Partners. The company’s existing investors including Sequoia Capital China, SAIC Capital, and Full Truck Alliance (FTA) also participated. This investment is an extension of the $200 million round announced last month, which was led by CPE and Guotai Junan International.
The additional funds will enable Plus to further expand its global operations and commercial deployment plans across the US, China, Europe and other parts of Asia for its driver-in autonomous driving solution, PlusDrive. The company is in the final stages of certifying PlusDrive for commercial operation in China.
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