| |
| |
| Why mobility tech startups continue to attract investor attention | | From tackling congestion to reducing carbon emissions, the mobility tech industry is increasingly being seen as a key to solving a host of societal problems.
Venture investors are pouring billions of dollars into mobility tech startups that have been benefiting from the ongoing SPAC boom and rising demand for low-cost, environmentally friendly transportation solutions.
Our latest installment of Emerging Tech Research explores the major trends that shaped this space in the first quarter of 2021, including mounting optimism around air taxis and autonomous driving technology. Among the takeaways: - Mobility tech venture funding set a record in Q1 2021, with $23.4 billion invested in the vertical.
- The SPAC phenomenon added upward pressure on valuations for early- and late-stage mobility startups and has accelerated funding timelines.
- Electric vehicle specialists need to rethink design processes in a way that prioritizes manufacturing cost and total cost of ownership.
- Micromobility providers appear to be gaining traction in emerging markets such as India and Brazil.
| | | | | | | | | | Beyond VC: The fundraising alternatives for Europe's startups | |  | | (LvNL/Getty Images) | | | European VC activity is on track for a record year, with Q1 already setting a quarterly high. But not all of the region's startups are eager to bring in venture capital. For many, raising equity funding comes at a cost they are unwilling to pay: control. - "There's so much pressure as a founder to take funding even if you don't need it," said Lemlist co-founder Guillaume Moubeche. "I wanted to send a message that fundraising should not be the definition of a startup's success and that you can succeed on your own terms."
- Venture funding typically includes a board seat for investors, and with it, some say in how the company is run. That influence can be more hindrance than help, Moubeche said, as startups are often pushed to prioritize short-term growth over long-term profits.
- Building a successful company usually requires at least some outside capital, but for founders who don't want to go the VC route, alternative funding options are cropping up throughout Europe to help startups scale.
| | | | | | | |
|
| |
| Getting ready to go public: How PE investors can help | | The floodgates have opened for late-stage growth companies backed by venture capital and private equity investors to finally reach the public markets. When the IPO market is booming, and SPACs are pushing companies quickly toward public ownership, it becomes vital to bring the entire team to the table—founders, VCs and PE investors. A skilled management team needs to be in place, financial systems need to be ready to scale, the company has to be able to project future financial performance accurately, and corporate governance and professional support need to be activated.
Discover the five focus areas where PE investors can be a valuable resource for ensuring a company is fully prepared for public ownership. | | | | | | | |
|
| SPAC deal to value pandemic-hit Bird at $2.3B | | Bird, an electric scooter-sharing startup, is set to be acquired by an NGP Capital-sponsored blank check vehicle at a $550 million haircut to its valuation, dot.LA has reported. - The merger with Switchback II Corporation, a special purpose acquisition company focused on energy transition investments, is expected to value the company at $2.3 billion.
- The Santa-Monica, Calif.-based startup was valued at $2.85 billion when it raised $75 million in January last year, but a fall in ridership during the pandemic saw the company lay off 406 staff, around 30% of its workforce.
- Its 2020 revenue fell to $95 million, down 37% from the previous year. However, Bird reportedly expects to cut its losses to $96 million in 2021, down from $183 million last year, with a view to profitability by 2023.
| | | | | | | | | | Labor shortages, supply constraints and high costs are making it difficult for food distributors to fulfill orders. And buyers like Walmart and Sysco are now penalizing them for this. [The Wall Street Journal]
After being furloughed or laid off during the pandemic, pilots are getting ready to fly again. But they'll need to brush up on their skills first. [The New York Times]
In Europe, where transport accounts for 25% of emissions, policymakers are asking travelers to take trains instead of planes. [Bloomberg] | | | | | |
|
| |
| | Since yesterday, the PitchBook Platform added: | | 14 Deals | 22 People | 19 Companies | | | | | | |
| |
| |
| |
| |
| |
| |
| 2016 Vintage Global PE Funds | | | | | | |
|
| |
| |
| | | | | | | | | TwinStrand Biosciences lands $50M | | | | | | |
|
| |
| |
| TA Associates, EQT swap Singaporean advisory firm | | | TA Associates has acquired a majority stake in InCorp Global from Sweden's EQT, which has backed the company since 2016. Based in Singapore, InCorp is a provider of corporate advisory services including compliance, accounting, taxation, incorporation and human resources. | | | | | | | | Apollo bids $4B for Tabcorp unit | | | | | | | | | Harvest Partners to back PE-owned HelpSystems | | | | | | | | | Abry Partners, Castik Capital to buy UK SaaS provider | | | | | | | | | KKR in talks to purchase John Laing | | | KKR has engaged in discussions to acquire UK-based infrastructure investor John Laing, according to reports. Shares of John Laing surged up to 18.5% to 376.4 pence per share after reports of a possible deal, valuing the company at about £1.9 billion (about $2.6 billion). | | | | | | | | Authentic Brands, Simon Property strike deal for Eddie Bauer | | | | | | |
|
| |
| |
| Gopuff enters UK delivery market with Fancy acquisition | | | Gopuff has purchased UK startup Fancy, as the Philadelphia-based rapid delivery company looks to expand into Europe. Fancy, which is backed by Y Combinator, operates a network of dark stores in several UK cities and delivers items in under 30 minutes. Gopuff was valued at $8.9 billion in March, according to PitchBook data. Its investors include D1 Capital Partners and SoftBank. | | | | | |
|
| |
| |
| Clinical trials operator Science 37 going public via SPAC | | | Science 37, a developer of technology for facilitating virtual clinical trials, has agreed to go public through a reverse merger with LifeSci Acquisition II Corp., a blank-check company. The deal values the company at $1.05 billion and includes a $200 million PIPE from investors including BlackRock, Lux Capital and the SPAC sponsor's affiliate, LifeSci Venture Partners. Science 37 has raised more than $140 million in venture capital to date, according to PitchBook data. | | | | | | | | | | | | |
|
| |
| |
|
No comments:
Post a Comment