Category: Transportation

• EV tech startups are gaining traction as Wall Street investors focus on the electric vehicle market, driven by strong government support for clean transportation.
• Sila Nanotechnologies leads the sector with a $375 million Series G funding round, innovating battery materials that enhance performance and sustainability.
• EnviroSpark has secured $50 million for expanding EV charging infrastructure, having installed over 8,800 charging stations, significantly improving accessibility.

• DRIFT receives £4.65m funding for green hydrogen yachts, integrating an electrolyser into autonomous vessels to produce hydrogen from seawater using wind power.
• The startup plans to deploy yachts to the deep ocean, utilizing strong winds and an underwater turbine to power the onboard electrolyser.
• The funding, led by Octopus Ventures with support from Blue Action Accelerator, will enhance vessel design, team growth, and partnerships ahead of the first keel laying in 2025.

• FLYR funding announcement reveals the company has raised $295 million to accelerate growth and expand its customer base among major airlines.
• The funding includes $225 million from a Series D round and $70 million in credit, totaling $500 million raised to date.
• FLYR’s tech platform focuses on reservation systems and AI-based decision automation to enhance operational efficiency for travel providers.
• The investment strengthens FLYR’s relationship with WestCap, its largest investor, and brings WestCap Founder Laurence Tosi onto its board.

• H3X has secured $20 million in electric aerospace funding to advance its compact and efficient electric motors for the aerospace and marine industries.
• The company aims to develop megawatt-scale motors that are significantly smaller than traditional options, enhancing efficiency and reducing space requirements.
• H3X’s motors are designed for hybrid electric aircraft, allowing for effective propulsion while minimizing battery limitations.
• The startup has contracts across various sectors, including commercial aviation, marine, and military, with plans to expand production and hire more staff.

• Autonomous vehicles funding drives $2.7 billion investment boom in June 2024
• 48 companies raised $2.7 billion, the highest monthly total of 2024
• Largest investments were in autonomous driving technologies
• Robotics technologies for manufacturing operations also attracted significant investment
• Majority of funding rounds in June went to U.S. and Chinese-based companies

Autonomous Vehicles Funding: A $2.7 Billion Boost in June 2024

In the fast-evolving landscape of autonomous vehicles, the funding boom reached new heights in June 2024, with a staggering $2.7 billion raised by companies involved in robotics and relevant enabling technologies. Read more

• Croatia secures significant funding rounds with top seven startups raising €124M in H1 2024
• Project 3 Mobility raises €100M, impacting Croatia’s growth compared to the previous period
• Zagreb emerges as a regional startup hub with support from ZICER for tech companies
• Croatia ranks 48th globally in the startup scene, showing promise in the Balkans and CEE ecosystem
• Startups in various verticals like Transportation, Event Tech, SaaS, HealthTech, and FinTech receive funding, showcasing diversity and potential

Croatia Top Funding Rounds in H1 2024 – Project 3 Mobility Paving the Way

In the dynamic world of tech startups, securing funding rounds is crucial for growth and innovation. Read more

• Addionics secures £30m funding for cost-efficient EV battery technology
• Investment to support global team expansion, manufacturing enhancement, and US gigafactory construction
• Addionics manufactures 3D current collectors for improved battery performance
• Funding round co-led by GM Ventures and Deep Insight, with participation from Scania
• Addionics aims to begin commercial production by end of year, enhancing battery performance globally

Revolutionizing Electric Vehicles with Advanced EV Battery Technology

Electric vehicles (EVs) have been gaining popularity in recent years as the world shifts towards sustainable transportation options. Read more

• Addionics secures $39M Series B funding for cost-efficient EV batteries
• Funding co-led by GM Ventures and Deep Insight, with participation from Scania
• Investment to enhance manufacturing capabilities and advance global business engagements
• Addionics specializes in 3D Current Collectors for improved battery performance
• Plans for US-based giga-factory and commercial production by year-end

Revolutionizing EV Battery Technology with Addionics’ $39M Series B Funding

The landscape of electric vehicle (EV) battery technology is constantly evolving, with companies like Addionics leading the way in innovation. Read more

• ZeroAvia secures £10.5M UK Government funding for zero-emission aircraft tech
• Funding will accelerate development of high-temperature fuel cell technology for zero-emission propulsion systems in aircraft
• AFCAD project led by ZeroAvia in collaboration with academic partners aims to advance fuel cell technology in aviation
• Previous HyFlyer projects by ZeroAvia demonstrated viability of hydrogen-electric aircraft for commercial use
• Funding and collaborative efforts signify progress towards sustainable aviation and positioning UK as a leader in aerospace innovation

ZeroAvia Secures £10.5 Million UK Government Funding

ZeroAvia, a pioneering company in sustainable aviation technology, has recently received a significant boost with a £10.5 million funding injection from the UK Government. Read more

• Michigan awards $6M in funding to four AAM projects
• Funding from AAM Activation Fund to scale AAM infrastructure and deploy pilots
• Projects aim to validate commercial potential of key AAM use cases
• Lt. Governor Gilchrist highlights economic opportunities and job growth from AAM investments
• Projects include multimodal chargers, aerial mobility region expansion, drone delivery services, and UAS testing for healthcare and environmental purposes

Michigan AAM Funding: State of Michigan Awards $6M to Four AAM Projects

In a significant move towards advancing the future of transportation, the State of Michigan has allocated a total of $6.25 million in funding to four Advanced Air Mobility (AAM) projects. Read more

• Mobility transformation: MATTER Group secures $35 million in funding led by Helena for Series B round
• MATTER aims to propel India towards energy independence through innovative EV technology
• Global collaboration with prominent investors marks a significant milestone in solving environmental challenges through technological innovation
• MATTER’s agile approach towards innovation in electric vehicles validated by impact-oriented institutions
• MATTER’s AERA electric motorbike receives 40,000 pre-bookings and is set to revolutionize mobility in India

Mobility Transformation Unveiled: MATTER’s AERA Revolution

In a groundbreaking move towards mobility transformation, MATTER Group, an innovative EV tech and energy storage firm, has announced a significant milestone in its journey by securing the first tranche of $35 million in the ongoing funding round. Read more

• Tulsa awarded $51 million for Autonomous Technology Development
• Funding aims to enhance region’s capabilities in autonomous systems
• Tulsa selected from 12 regions for EDA’s Tech Hubs program
• Funding to create up to 56,000 new jobs over the next decade
• THETA initiative led by steering committee with over 75 partners

Advancing Autonomous Technology in Tulsa

The recent announcement of Tulsa being awarded $51 million to advance autonomous technology development marks a significant milestone in the region’s journey towards becoming a hub for innovative technologies. Read more

• Africa: Transport logistics sector leads in startup funding with $215 million
• Fintech investments in Africa drop significantly in 2024
• Energy & Water sector follows closely behind Logistics & Transport in funding
• Climate Tech investments reach an all-time high in 2024 at 45%
• Climate Tech funding shows a positive trend after a drop in previous years

Transport and Logistics Boom in Africa: A $215 Million Start-up Funding Trend

In the ever-evolving landscape of start-up funding in Africa, a notable shift has been observed in the sectors attracting significant investments. Read more

• The eVTOL funding fight is evident in various countries like the UAE, U.S., China, UK, and Brazil, with differing levels of government support for advanced air mobility.
• German eVTOL developers Volocopter and Lilium face challenges securing government backing, impacting their financial stability and growth prospects.
• Volocopter struggled to secure loans from German state governments, leading to potential insolvency concerns and the need for alternative financing options.

• Aurora Tech award funding will provide faster and more reliable emergency services across Africa, says Folake Owodunni, the award winner
• Owodunni’s tech journey blends passion, persistence, and problem-solving, transitioning from public health to tech to address healthcare gaps in Africa
• Emergency Response Africa (ERA) merges public health expertise with innovative technology for efficient emergency medical services
• ERA leverages technology for rapid response, data collection, and scalability in transforming emergency services in Africa
• The Aurora Tech Award win will fund ERA’s AI optimization, responder network expansion, and marketing to enhance emergency care services across Africa

Empowering Emergency Services Through Aurora Tech Funding

In the realm of technology and public health, innovation often emerges as the driving force behind transformative change. Read more

• Aerodome secures $21.5M in Series A funding for Drone-As-First-Responder technology
• CRV leads investment to accelerate development of public safety solutions
• Funding round includes participation from Andreessen Horowitz, Karman Ventures, and others
• Aerodome’s DFR technology aims to revolutionize emergency response with automation and efficiency
• Company’s growth attributed to advanced DFR system, reducing response times and increasing safety

Revolutionizing Public Safety with Drone-As-First-Responder Technology

In a significant move to enhance public safety solutions, Aerodome has secured $21.5 million in Series A funding for its innovative Drone-As-First-Responder (DFR) technology. Read more

• SoftBank leads $1.4 billion funding for UK self-driving start-up Wayve, with Nvidia and Microsoft also contributing
• Funding will accelerate development of Wayve’s Embodied AI technology for production-model vehicles
• Wayve’s autonomous driving technology uses AI to navigate unpredictable situations
• Challenges faced by self-driving companies include predicting and assessing risk quickly
• Wayve’s technology is designed to generalize driving knowledge and handle edge cases using AI

SoftBank Leads $1.4 Billion Funding for UK Self-Driving Start-Up Wayve

Self-driving technology has been a buzzword in the tech industry for years, promising to revolutionize the way we commute and travel. Read more

• Companies are increasingly spending more on AI technology to comply with government oversight
• Silicon Valley is engaging with government officials to secure government contracts and navigate AI regulations
• American companies are facing stiff competition from Chinese tech companies, leading to concerns about intellectual property theft and global competitiveness
• The Hill and Valley Forum in Washington, D.C. discussed AI policy and national security, with a focus on potential AI regulations under a Trump presidency
• The event showcased a mix of bipartisan and pro-Trump sentiments among tech leaders and politicians, raising concerns about the normalization of Trump within the business community.

• **Decarbonise Freight Funding**: £1.8 million government boost to support SMEs in deploying AI and automation for more sustainable deliveries.
• Freight Innovation Fund Accelerator: Launched by Roads Minister Guy Opperman to enhance the UK supply chain and grow the economy.
• Success Stories: Examples include Royal Mail’s drone delivery in Orkney and FedEx’s eCargo bikes for efficient, decarbonised deliveries.
• Economic Impact: Previous funding winners attracted £97 million in commercial investment, decarbonising supply chains and creating jobs.

• Lohum aims to raise $100 million in funding to expand manufacturing operations and capitalize on the growing electric vehicle adoption.
• The company has appointed Avendus Capital to assist in the fundraising process, which is expected to take 5-6 months.
• Lohum closed FY24 with over $500 crore in revenue and plans to expand to North America, the Middle East, and Europe.
• The company specializes in repurposing and recycling EV batteries, with plans to set up integrated facilities in various locations.

• Venture Catalysts leads $1 million bridge funding round for BluWheelz, an EV fleet company revolutionizing logistics
• BluWheelz addresses cost and timeline challenges for e-commerce, quick commerce, and food tech industries with a focus on environmental impact
• BluWheelz operates in 18 cities with a comprehensive EV fleet solution covering 2-wheelers, 3-wheelers, and 4-wheelers, with plans to integrate 6-wheelers
• BluWheelz has expanded its fleet to over 1,200 vehicles, serving over 40 billable clients across various sectors
• BluWheelz has partnerships with major vehicle OEMs, a low-cost franchise model, comprehensive technology integration, and strategic alliances for charging and parking infrastructure

EV Fleet Funding: Venture Catalysts Leads $1 Million Bridge Funding Round for BluWheelz

In the ever-evolving landscape of sustainable mobility solutions, Venture Catalysts, an integrated incubator and a pioneer in early-stage investments, made waves by spearheading a $1 million bridge funding round for BluWheelz, a tech-enabled delivery company that is transforming logistics with its electric vehicle (EV) fleet. Read more

• Kenya’s electric bus startup BasiGo secures $3 million in funding round from CFAO Group
• CFAO, with a strong presence in over 40 African countries, provides robust financial support to BasiGo
• BasiGo’s modern electric buses offer maintenance and charging services, with a pay-as-you-go financing plan
• BasiGo aims to manufacture 1,000 electric buses locally within the next three years
• CFAO Kenya expresses commitment to advancing the electric vehicle industry and fostering a sustainable green energy value chain

Revolutionizing Mobility with Kenya’s Electric Bus Startup BasiGo

Kenya’s electric bus startup, BasiGo, recently made headlines by securing a substantial $3 million equity investment from CFAO Group. Read more

• Carrar secures $5.3 million in funding for EV innovation, focusing on advanced battery modules and thermal management systems.
• Investment from various backers, including Salida B.V. and OurCrowd, highlights Carrar’s potential to revolutionize the e-mobility landscape.
• Carrar’s technology aims to enhance battery safety, lifespan, and efficiency, addressing key challenges in the EV industry.
• The global EV battery market is projected to grow significantly, with a CAGR exceeding 20% in the next decade.

• AutoNxt Automation secures Pre-Series A funding led by Saama, advancing electric and autonomous mobility tech in India’s automotive industry.
• The funding round included participation from notable investors like Amit Singhal and Suveer Sinha, among others.
• AutoNxt plans to launch India’s first electric tractor with self-driving capabilities for commercial use in various sectors later this year.
• The company aims to capitalize on India’s large tractor market and align with the government’s initiatives for self-reliance and sustainability.

• GT Green Technologies secures £1.25 million in seed equity funding to accelerate sustainable shipping innovation, particularly in wind-assisted technology.
• AirWing™ by GT Green Technologies is a flagship product aimed at reducing fuel costs, carbon emissions, and aiding compliance with environmental regulations in commercial shipping.
• Funding round led by OnePlanetCapital and supported by strategic investments from Carisbrooke Shipping and climate-focused angels, with over 500 retail investors on Seedrs.

• Transport Tech Innovations Backed by £1.8M UK Gov Funding: Self-driving delivery boats and other innovative transport projects awarded funding from the UK government’s TRIG scheme.
• 41 winning projects receive over £1.8 million to support early-stage research in transport technology.
• Projects aim to address challenges in airports, local transport, maritime decarbonisation, AI, digital twins, connectivity, and freight.
• Initiatives like self-driving boats for parcel delivery and AI tools for optimizing passenger flow are highlighted as examples of cutting-edge innovation.

• Tech education grant drives WMU and state forward in high tech education, research, and training
• Western Michigan University awarded grant for research and career development in mobility industry
• Grant supports Center for Advanced Vehicle Design and Simulation (CAViDS) led by Dr. Claudia Fajardo-Hansford
• Industry and community collaborators include Dana Incorporated, Eaton, The Lubrizol Corporation, and Michigan Works! Southwest
• Funding from Mobility Public-Private Partnership & Programming Grant supports over 200 students in mobility careers

Mobility Grant Strengthens Tech Education at WMU

In a significant move towards advancing high tech education, research, and training, Western Michigan University (WMU) has been selected as one of the recipients of a strategic grant aimed at positioning Michigan as a leader in the mobility industry. Read more

• Suas Aerospace seeks €5m funding for Irish spaceport development
• Aiming for operational spaceport by 2027, projecting €70m annual revenue
• Identified Ireland as suitable for spaceport based on feasibility study
• Plans for world-class facility capable of 48 launches annually
• Long-term vision includes aeronautical facility with launchpads and visitor center

Suas Aerospace Seeks €5m Funding to Build an Irish Spaceport

Suas Aerospace, a promising Irish start-up, has set its sights on constructing an Irish spaceport by 2027. Read more

• Advent Technologies secures funding for the RiverCell 3 project, focusing on revolutionary maritime fuel cell systems powered by eMethanol.
• Project involves prestigious partners like MEYER NEPTUN Engineering, Siemens Energy, Lloyd’s Register, and Hochschule Wismar, aiming to develop high-capacity fuel cell systems for larger vessels.
• Utilizing Advent’s Ion-PairTM membrane electrode assembly (MEA) technology to enhance fuel cell lifespan and power density for maritime applications.

• £275m funding announced for automotive and aerospace tech
• £73m investment in automotive R&D for electric vehicle technology
• Government has allocated over £2bn for zero emission vehicles and batteries
• Nearly £200m funding for aerospace R&D projects, focusing on energy efficiency and zero-carbon aircraft technology
• Industry views the funding as crucial for advancing key sectors and positioning the UK as a global leader in advanced manufacturing

Investment Boost: £275m Funding for Automotive and Aerospace Technologies

In a significant move ahead of the Spring Budget, Chancellor Jeremy Hunt has unveiled a substantial investment package that includes funding for the automotive and aerospace industries. Read more