Autotech Ventures, a Menlo Park, CA-based specialist venture capital firm, launched its inaugural fund of more than $120m to invest in startups innovating ground transportation.
The fund comprises both financial and corporate investors. Among the corporate investors are BorgWarner and Autoliv, as well as dozens of others including vehicle manufacturers, parts suppliers, repair shop chains, leasing corporations, refueling station networks, dealership groups, and trucking firms.
Founded by Alexei Andreev and Quin Garcia and featuring a team of seasoned transportation executives, investors, and entrepreneurs, Autotech Ventures is a venture capital firm focused solely on ground transportation startups developing connected, autonomous, shared, electrified vehicles and related mobility services, providing them with capital, transportation market intelligence, and access to corporate scale-up partners.
The fund has already made investments in DeepScale, Lyft, Outdoorsy, Realine, Volta Charging, and Work Truck Solutions.
The firm’s team also includes Masahiro Suzuki, Partner in charge of strategic partnerships.