November 2020 month saw a huge investments made in Automotive Focused startups
• Ather Energy raised $35 Million in its Series D round led by Sachin Bansal.
• LetsTransport a logistic Marketplace for intracity deliveries got funded US$7.6 Million from existing investors.
• Rivigo, a surface logistic company got US$11.4 million from Elevation Capital
• Bizlog startups gets US$1.62 million in a pre-series A funding led by IAN Fund
• Routematic gets US$2million from Bosch. It’s an urban mobility startup.
• WheelsEMI a two-wheeler financer gets US$14.8 million in series C funding
• Charge+Zone gets US$3 Million in pre-series A by Venture Catalyst
It is important to understand logistic and supply chain management continues to be an essence due to COVID. Charging Stations for E-Vehicles will continue to get boost. The general belief that Automotive Startups tend to have sluggish investments seem to be become a MYTH and hence there will be a need for more Automotive Startups to spin off. Innovation needs will continue to exist in this space.
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