Welcome to The Paddock, your go-to place for the latest insights and trends revolutionizing the mobility sector globally. 🚗
— Curated by Rodolfo, Enrique, Cecy, and Bernardo: the Proeza Ventures team. 💪
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📌 Do you know a startup reshaping mobility by being more efficient, safer and environmentally friendly? We want to meet them! 📩
🏁 Check our investment thesis and learn more about our Portfolio Co.
🎉 Welcome, Pull Systems!
We are excited to announce our most recent investment: Pull Systems 🎉, an AI-powered automation platform that supports OEMs and vehicle manufacturers in tracking and managing real-time data for quality, after-sales, and development issues.
“With Proeza’s investment, we’ve successfully closed our oversubscribed Seed round, securing the capital needed for Pull to embark on an exciting new chapter. Our go-to-market initiatives kicked off this week in Detroit and we’re poised for a dynamic summer ahead,” shared Jorge Borbolla, CEO of Pull Systems with us.
💥 Pull Systems: Smart Solutions for Electric Challenges
OEMs and Automakers are facing significant challenges with the shift to electric vehicles (EVs), particularly in managing the quality and maintenance of EV batteries. Current systems and processes are outdated and fragmented, leading to expensive and often unnecessary recalls.
👉 To address these pain points, Pull Systems provides an AI-powered platform that offers real-time monitoring and analysis of battery performance. This technology enables faster and more precise insights, helping manufacturers identify problems, prevent failures, shorten feedback cycles, and boost profitability in record time.
Pull Systems’ platform integrates data from various sources to give engineers a comprehensive view of battery health and performance. By unifying and analyzing this data through advanced AI models, the platform allows for early detection of issues and more effective management of batteries.
🔌 The market for EVs is rapidly expanding, with global investments expected to reach $1.2 trillion by 2030. We trust that Pull Systems will be able to capture a substantial share of this growing market as EV production becomes cheaper and charging infrastructure improves.
We are very excited to work with Jorge, Henry, and the entire Pull System team on their journey to reshape mobility as we know it.
🏆 Our PortCos News
🏁 Driving and thriving
DriveU.auto has partnered with Serve Robotics to integrate its connectivity platform to support scale as it continues to deploy its fleet to 2,000 robots on the Uber Eats platform.
Serve is a leader in using autonomous technology to make delivery sustainable and economical. We are thrilled at this vote of confidence from Serve who selected and now implemented DriveU’s technology!
Congrats to the entire team!
💪 European Mobility Ecosystem on the rise
Next week, June 19th and 20th, Rodolfo, Enrique, and Bernardo will attend this year’s MOVE London, 🇬🇧 the world’s #1 tech mobility event connecting +5,000 mobility professionals, +1,500 CEOs, and +650 speakers.
We hope to see you there! After all, the mobility industry ranks #3 in the top-funded European sectors in 2023. 🫢
- According to the State of European Mobility Startups Report of 2023, by viaID and dealroom.co, the mobility sector is witnessing significant shifts. While EV battery and EV charging have received considerable attention, SaaS and manufacturing are also dominating the landscape.
- In contrast, marketplace models have dropped to their lowest share in over a decade.
- The switch to electric mobility is identified as the key sustainable mobility trend, attracting 66% of mobility funding.
- This emphasis on electric vehicles (EVs) aligns with broader sustainability goals, driving substantial investments into transportation, battery technology, and mobility manufacturing.
“Since transportation, battery tech, and mobility manufacturing have attracted the largest flows of capital within the sustainability theme, it comes as no surprise that Europe also emerges as the global leader in early-stage mobility investments outpacing the US and other regions,” reflected Theodora Preda, Ventures Director at Startup Autobahn.
📍 London and Stockholm remain top hubs in the mobility sector, so it’s only natural that the MOVE event takes place in one of these cities. We wish happy connections to every attendee participating in the event! 🙌
🌱 Opportunities in Mobility
There are countless ways to improve a more efficient and sustainable mobility landscape. Here we found some you might like:
👩🏻💻 Border Partnerships Manager – Cargado
👩🏻💻 Senior Software Engineer – Cargado
👩🏻💻 Head of EV Charging Network Operations – Electric Era
👩🏻💻 Office Manager – Electric Era
👩🏻💻 Head of Consumer Marketing – Bliq
👩🏻💻 Sensor Validation Engineer – Lunewave
👩🏻💻 Energy Data Scientist – Rhythmos
📖 Interesting Reads
How Much Do inDrive and Didi Drivers Earn in Latin America?
Did you know that drivers for ride-hailing services like inDrive and Didi in Latin America have democratized access to employment by offering flexible and accessible revenue options? These earnings vary depending on the country, local cost of living, and the number of hours worked, and can represent a significant percentage of an individual’s income.
- Colombia: Drivers earn about $8-9 per hour.
- Mexico: Earnings range from $6-7 per hour.
- Chile: Drivers typically make $10-12 per hour.
- Other Countries: Earnings vary, but they are generally in the range of $5-10 per hour.
Many drivers choose these platforms for their earning flexibility and practicality, and they have revolutionized the mobility industry. However, these well-known “gig workers” also face significant challenges, such as long hours and managing expenses
📯 Hot Deals
At Proeza VC we check many deals weekly.
Here are the Top 10 deals that caught our attention recently.
🚀 Magic Lane, a startup based in Amsterdam and Romania whose technology allows apps and vehicles to use maps and navigation features with minimal hardware and without needing an internet connection, raised a $3.2 million round. No Such Ventures was the deal lead. (13.May.2024)
🚀 Cylib, a German battery recycling startup secured a €55 million Series A co-led by World Fund and Porsche Ventures. (16.May.2024)
🚀 Orange Charger, a Menlo Park, CA startup that provides affordable electric vehicle charging outlets for apartment buildings, raised a $6.5 million seed round led by Munich Re Ventures and Climactic. (15.May.2024)
🚀 Ulemco, a Liverpool startup that specializes in converting commercial diesel engines into hydrogen-powered engines, raised a $6.3 million round co-led by Mercia Ventures and Northern Powerhouse Investment Fund. (15.May.2024)
🚀 Loopit, an Australia-based mobility software provider that allows automakers, dealers and rental car companies to provide vehicle usage models like car subscriptions and micro-leasing raised $3.95 million in pre-Series A funding. (21.May.2024)
🚀 ThinkLabs AI, a New York-based startup focusing on enhancing grid planning through automation and AI raised $5 million in Seed funding co-led by Powerhouse Ventures and Active Impact. (27.May.2024)
🚀 GoodShip, a Nashville and Seattle-based procurement platform that provide shippers with transparency into their freight data and insights into the operations of their ecosystems, raised an $8 million Series A led by Bessemer Venture Partners with participation from existing investors. (16.May.2024)
🚀 Neural Concept, a Swiss startup uses AI to help car designers model how components will perform before they can be manufactured raised $27 million in a Series B round led by Forestay Capital. (03.Jun.2024)
🚀 Whizz, a New York-based e-bike subscription startup geared toward gig food delivery workers, raised $12 million in equity and debt from Leta Capital and Flashpoint VC. (05.Jun.2024)
That’s it for this month!
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