Andreessen Horowitz is a venture capital firm specializing in investing in seed, start-ups, early, mid-stage, growth, and late-stage. It prefers to invest in the social media business and technology sector with a focus on software, back-end infrastructure, the infrastructure of the Internet, cloud computing, enterprise software and services, consumer, business Internet, mobile-Internet, consumer Internet, cloud computing, data storage, social network browsers data-storage, consumer electronics, networking functions, software related biology, biotech, and medicine companies at the intersection of computer science and life sciences with a focus on digital therapeutics, cloud technology in biology, and computational medicine.

Andreessen Horowitz

New Enterprise Associates is a prominent venture capital firm focusing on investments in technology and healthcare startups. They help entrepreneurs build transformational businesses across multiple stages, sectors, and geographies. With over $19 billion in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from the seed stage through the IPO. The firm's long track record of successful investing includes more than 210 portfolio company IPOs and more than 360 acquisitions.

New Enterprise Associates

Energize Capital is a global alternative investment manager focused on accelerating digital transformation in energy and sustainability. Founded in 2016, Energize has funded 21 companies to date and is backed by strategic and institutional LPs including CDPQ, Invenergy, Schneider Electric, General Electric, Caterpillar, and more. With an unmatched depth and breadth of industry and operational expertise, Energize works in partnership with its portfolio companies to realize their full potential from early commercialization to growth scaling and into the public markets.

Energize Capital

Smartcar

Smartcar enables mobility businesses to integrate their apps and services with connected cars. Easily retrieve vehicle data and trigger actions with our simple and secure car API. Track vehicle location, manage EV charging, verify mileage, lock & unlock remotely, and more. Our developer-friendly documentation and SDKs allow you to quickly integrate our car API with every tech stack.

Smartcar offers an application programming interface (API) developer platform for mobility-related companies. Through its API platform, users can connect applications with cars through the cloud for various purposes such as obtaining location, verifying mileage, sharing digital car keys, and managing electric vehicle (EV) charging. Smartcar offers its solutions on a software-as-a-service (SaaS) basis. The platform enables users to review and approve data they want to share with their apps instead of selling or sharing user data. As of February 2024, it was compatible with car brands across 30+ countries across North America and Europe.

Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

Lyft partners with Smartcar to help its EV drivers work without range anxiety

Lyft

To enhance electric vehicle driver experience by minimizing range anxiety, offering incentives, and aiming for 100 million EV rides by 2025 while promoting EV adoption.

Riding together toward a sustainable future

Shared Mobility

Platforms that connect passengers with personal drivers on-demand, for dedicated rides.

Companies providing software solutions for managing devices, and integrating external and internal systems for vehicles using internet connectivity

To enhance the driving experience for EV drivers by reducing range anxiety, ensuring ride requests align with battery capacity, and providing proactive charging reminders.

Uber

Uber partnered with Smartcar, an application programming interface (API) developer platform for mobility-related companies, to address range anxiety for electric vehicle (EV) drivers on the Uber app. Through Smartcar's API, Uber will incorporate EV battery status data into its app, potentially encouraging more drivers to switch to EVs. Initially, the feature will apply to certain car makes and models, with plans to broaden coverage in the future.

<div>
 
 Smartcar offers an application programming interface (API) developer platform for mobility-related companies. Through its API platform, users can connect applications with cars through the cloud for various purposes such as obtaining location, verifying mileage, sharing digital car keys, and managing electric vehicle (EV) charging. Smartcar offers its solutions on a software-as-a-service (SaaS) basis. The platform enables users to review and approve data they want to share with their apps instead of selling or sharing user data. As of February 2024, it was compatible with car brands across 30+ countries across North America and Europe.&nbsp;
 
 
 
 
 Key customers and partnerships
 
 
 As of February 2024, the platform was compatible with 39 car brands including BMW, Audi, Chevrolet, and Ford. Smartcar&rsquo;s customers include auto insurance companies such as Just Auto and Paydrive; car and ride-sharing companies like 
 <a href="https://sp-edge.com/updates/24547">
 Uber,
 </a>
 Turo, Coast, and Zemtu; EV charging providers including Optiwatt, Rolling Energy Resources, Carge, Recurrent, and Flex Charging; and fleet management companies such as Zubie, Azuga, and Pitstop.
 
 
 
 
 Funding and financials
 
 
 In January 2022, Smartcar raised USD 24 million in a Series B funding round led by Energize Ventures to expand its markets in the US and Europe and for further product development by introducing new vehicle telemetry APIs and broadening the range of compatible car brands.&nbsp;
 
 
 
 
 Key competitors: None comparable 
 (Smartcar is the only startup offering an API developer platform to connect applications with cars)
 
 
 
</div>

Smartcar offers an application programming interface (API) developer platform for mobility-related companies. Through its API platform, users can connect applications with cars through the cloud for various purposes such as obtaining location, verifying mileage, sharing digital car keys, and managing electric vehicle (EV) charging. Smartcar offers its solutions on a software-as-a-service (SaaS) basis. The platform enables users to review and approve data they want to share with their apps instead of selling or sharing user data. As of February 2024, it was compatible with car brands across 30+ countries across North America and Europe. Key customers and partnershipsAs of February 2024, the platform was compatible with 39 car brands including BMW, Audi, Chevrolet, and Ford. Smartcar’s customers include auto insurance companies such as Just Auto and Paydrive; car and ride-sharing companies like <a href="https://sp-edge.com/updates/24547">Uber, </a>Turo, Coast, Zemtu and <a href="https://sp-edge.com/updates/33995">Lyft</a>; EV charging providers including Optiwatt, Rolling Energy Resources, Carge, Recurrent, and Flex Charging; and fleet management companies such as Zubie, Azuga, and Pitstop. Funding and financialsIn January 2022, Smartcar raised USD 24 million in a Series B funding round led by Energize Ventures to expand its markets in the US and Europe and for further product development by introducing new vehicle telemetry APIs and broadening the range of compatible car brands. Key competitors: None comparable (Smartcar is the only startup offering an API developer platform to connect applications with cars)

<div>
 
 Aeva develops next-generation sensing and perception systems including 4D LiDAR-on-chip for autonomous vehicles and robotics. Its LiDAR sensors dubbed &ldquo;Aeries II&rdquo; are equipped with unique frequency modulated continuous wave (FMCW) 4D technology for high sensing capabilities and use a continuous laser. It can sense objects 500 meters away over a field of view (FoV) of 120 x 30 degrees. Aries II is powered by the company&rsquo;s proprietary 4D Perception software. Aeries II is reportedly the world&rsquo;s first LiDAR-on-chip silicon photonics design.&nbsp;
 
 
 
 
 The company launched Aeva Atlas, an automotive-grade 4D LiDAR sensor, 
 <a href="https://sp-edge.com/updates/25293">
 in January 2024.
 </a>
 It can sense objects 500 meters away over a field of FoV of 120 x 30 degrees. The company claims that Atlas is the first automotive-grade 4D LiDAR sensor for mass production in automotive applications. Atlas is powered by Aeva&rsquo;s proprietary Digital Signal Processing Software. The company claims the unit is 70% smaller and 4x more energy-efficient than the company&rsquo;s previous lidar solutions.
 
 
 
 
 Aeva sources product components from third-party vendors and assembles the final product in its assembly facility in San Francisco, California. However, since September 2021, the company has gradually shifted to a manufacturing model that solely relies on local and foreign third-party suppliers for both manufacturing and assembly. The company began shipping its LiDAR systems to strategic customers in mid-2022 and reported shipping 40+ units to customers by 
 <a href="https://sp-edge.com/updates/17245">
 December 2022
 </a>
 .
 
 
 
 
 Key customers and partnerships
 
 
 The company has entered into product collaborations with partners including automotive component manufacturers ZF Group (September 2020), Denso (January 2021), and Fabrinet (November 2021) to develop LiDAR systems for vehicles and Nikon to develop sensors for robotic factory production lines (August 2021).&nbsp;
 
 
 
 
 Avea has high-volume production deals with autonomous shuttle services provider May Mobility 
 <a href="https://sp-edge.com/updates/23631">
 (November 2023)
 </a>
 and an unnamed global automotive OEM 
 <a href="https://sp-edge.com/updates/25168">
 (January 2024).
 </a>
 
 
 
 
 Funding and financials
 
 
 Aeva generated revenue of USD 4.3 million and reported a non-GAAP operating loss of USD 124.1 million in the year ended December 2023. The company has been listed on NYSE since March 2021, via a merger with a special purpose acquisition company (SPAC), which valued the combined entity at USD 2.1 billion (November 2020).
 
 
 
 
 <a href="https://sp-edge.com/updates/23632">
 In November 2023,
 </a>
 the company raised USD 145 million via a combined private investment and preferred facility deal from existing long-term stockholders. The company intended to utilize the funds to enhance its standing with OEMs, and improve its ability to support various high-volume production programs, potentially increasing its prospects for securing additional contracts.
 
 
 
</div>

Aeva

<div>
 
 Israel-based Innoviz Technologies develops LiDAR sensors and perception software specifically catering to autonomous vehicles. Its LiDAR product portfolio includes 1) &ldquo;InnovizOne,&rdquo; a solid-state LiDAR sensor specifically designed for autonomous vehicles with a detection range of up to 250 m and field of view (FoV) of 115 x 25 degrees; 2) &ldquo;InnovizTwo,&rdquo; a next-gen automotive-grade LiDAR sensor with a detection range of up to 300 m and FoV of 120 x 40 degrees; and 3) &ldquo;Innoviz360,&rdquo; a 360-degree LiDAR sensor with a detection range up to 300 m and pitched toward automotive and non-automotive applications.&nbsp;
 
 
 The company&rsquo;s target market spans across the US, Europe, and Asia, and it had an order book worth USD 6.9 billion 
 <a href="https://sp-edge.com/updates/14444">
 as of September 2022.
 </a>
 As of February 2024, Innoviz Technologies had 18 of Innoviz&rsquo;s products protected by US patents.&nbsp;
 
 
 <a href="https://sp-edge.com/updates/26155">
 In January 2024,
 </a>
 Innoviz released a strategic realignment plan for its operations from Q1 2024, which included a reduction of its workforce by ~13% (about 60 employees) to lower expenses and enhance its financial longevity. This was to mainly consolidate expenditures by transitioning the InnovizOne program to series production and focusing on the InnovizTwo sensor and software suite.
 
 
 Key customers and partnerships
 
 
 Innoviz Technologies has entered product collaborations with partners including Curium, a developer of automated calibration services for autonomous systems (August 2021); Ansys, a provider of simulation software (January 2022); Visionary.ai, a developer of software-based image signal processor technology (June 2022); and Japan-based software company Kudan 
 <a href="https://sp-edge.com/updates/14117">
 (October 2022)
 </a>
 and Mobileye (as of February 2024) to obtain technology to be integrated with its LiDAR solutions.
 
 
 The company secured 15 pre-production orders and four series production customers as of September 2023. Its customers include Twinner, Whale Dynamics, Syracuse, BMW, 
 <a href="https://sp-edge.com/updates/12378">
 Volkswagen,
 </a>
 and Delphi Automotive&mdash;of which BMW and Volkswagen were among the series production customers.&nbsp;
 
 
 Funding and financials
 
 
 Innoviz Technologies generated revenue of USD 20.9 million and reported an operating loss of USD 132.6 million during the year ended December 2023. The company has been listed on the Nasdaq since April 2021 via a merger with a special purpose acquisition company (SPAC), which valued the combined entity at USD 1.4 billion (December 2020).
 
 
 <a href="https://sp-edge.com/updates/20883">
 In August 2023,
 </a>
 Innoviz Technologies announced plans for a public offering to issue USD 60 million of its ordinary shares to underwriters so they can purchase up to an additional USD 9 million of ordinary shares. The company planned to use the funds raised for general corporate purposes.
 
</div>

Innoviz Technologies

<div>
 
 AEye develops artificial intelligence (AI)-powered LiDAR for various applications, including vehicle autonomy, advanced driver assistance systems (ADAS), and robotic vision. The company&rsquo;s products include &ldquo;4SIGHT,&rdquo; a software-defined, solid-state LiDAR sensor for automotive applications. The company claims that 4SIGHT offers the industry&rsquo;s longest detection range with the ability to identify small obstacles at over 300m and a 128 degree horizontal field of view (FoV). 4SIGHT uses adaptive LiDAR sensors as opposed to traditional sensors that passively collect data. AEye&rsquo;s next gen product 
 <a href="https://sp-edge.com/updates/24047">
 &ldquo;4IGHT Flex,&rdquo;
 </a>
 is an ultra-compact, high-performance LiDAR for in-cabin autonomy and safety features. It comes with a 120 x 30-degree FoV, high resolution, and a detection range of up to 275 meters. The company 
 <a href="https://sp-edge.com/updates/14502">
 launched a new 4Sight product line
 </a>
 in November 2022, which it claims was built on a high-performance adaptive LiDAR platform. In 
 <a href="https://sp-edge.com/updates?industryIds=70">
 March 2024
 </a>
 , AEye announced the launch of Apollo, the first product in the 4Sight Flex Lidar series. As of July 2023, AEye held 120 patents for its technology solutions.
 
 
 
 
 The company&rsquo;s business model also involves licensing software sensing platforms to automotive partners and outright sale of software-configured hardware products in partnership with system integrators in industrial markets.
 
 
 
 
 Key customers and partnerships
 
 
 The company began has been producing and supplying its sensors since late 2021, in partnership with electronic solutions provider LITEON Technology Corporation 
 <a href="https://sp-edge.com/updates/29284">
 (May 2024),
 </a>
 electronics manufacturer Sanmina Corporation (July 2021), German automotive parts manufacturer Continental (October 2020), simulation software provider Ansys (January 2020), and other system integrators. Its customers include Nvidia (July 2020), Continental (August 2021), and autonomous trucking company TuSimple (July 2021).
 
 
 Funding and financials
 
 
 AEye generated revenue of USD 1.5 million and reported an operating loss of USD 87.8 million during the year ended December 2023. The company has been listed on Nasdaq since August 2021, via a merger with a special purpose acquisition company (SPAC), which valued the combined entity at USD 1.52 billion (May 2021).
 
 
 
</div>

AEye

LeddarTech is a Canadian company offering environmental sensing and perception solutions for advanced driving assistance systems (ADAS) and autonomous driving solutions. The company’s main product offering “LeddarVision,” includes four scalable raw-data sensor fusion and perception platforms for Level 2/2+ ADAS applications (i.e., Level 2 refers to vehicles that can control both the speed and the steering, but the driver must maintain full vigilance). LeddarTech also offered LiDAR hardware components for LiDAR manufacturers, system integrators, and Tier 1–2 suppliers. However,&nbsp;<a href="https://sp-edge.com/updates/14304">in November 2022,</a> the company announced plans to move away from its LiDAR hardware component business and focus on software development going forward. As of February 2024, LedderTech had 150+ patents (granted or applied).&nbsp;LeddarTech acquired VayaVision (sensor fusion and perception software company) in July 2020 and Phantom Intelligence (signal processing and LiDAR technology company) in September 2020 to complement its operations.&nbsp;LeddarTech became a publicly traded company via a merger with a special purpose acquisition company (SPAC) in&nbsp;<a href="https://sp-edge.com/updates/25036">December 2023.</a> The company generated revenue of USD 7.4 million and an operating loss of USD 52.5 million in 2023.Key customers and partnershipsThe company has partnerships with technology companies such as&nbsp;<a href="https://sp-edge.com/updates/27813">Renesas Electronics,</a> STMicroelectronics, Flex, dSPACE, Ningbo Sunny Optical, Black Sesame Technologies,&nbsp;<a href="https://sp-edge.com/updates/27574">Arm Technologies,</a> and&nbsp;<a href="https://sp-edge.com/updates/29173">Immervision</a> for the joint development and delivery of LiDAR solutions.

LeddarTech

<div>
 
 Seyond (formerly known as Innovusion) offers image-quality long-range LiDAR solutions for the automotive and other industries. Its product portfolio includes 1) &ldquo;Falcon,&rdquo; a LiDAR sensor specifically designed for the automotive industry, with a detection range of up to 500 meters and field of view (FoV) of 120 x 25 degrees; 2) &ldquo;OmniVidi,&rdquo; a perception service software platform, powered by a proprietary single-laser Forward SightNet and multi-laser fusion perception lightweight model; and 3) &ldquo;Robin,&rdquo; a short- to medium-range LiDAR sensor, with a detection range of up to 250 meters and FoV of 120 x 24 degrees.&nbsp;
 
 
 
 
 The company, headquartered in Silicon Valley, California, also has operations in China and Germany. As of November 2023, the company had an annual production capacity exceeding 300,000 units at its facility in China, and had plans to commence mass production by December 2023. In November 2023, the company reported delivering 200,000 automotive-grade LiDAR to customers.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 Seyond primarily targets China and has entered several partnerships in the region. This includes a strategic partnership with Chinese EV maker NIO to supply LiDAR sensors for NIO&rsquo;s vehicles and a partnership with Chinese self-driving tech startup Mogo Auto (January 2022) to promote the adoption and commercial use of LiDAR for autonomous vehicles. The company reportedly delivered 56,000 LiDAR sensors to NIO in 2022.&nbsp;
 
 
 
 
 Meanwhile, the company also has a partnership with Joynext, the smart vehicle arm of Chinese auto component manufacturer, Joyson Electronics, for mass production of LiDAR sensors. It also entered a product partnership with 3D spatial intelligence software solutions specialist Outsight 
 <a href="https://sp-edge.com/updates/24507">
 in November 2023
 </a>
 to combine Outsight's software technology with Seyond's products for enhanced 3D perception capabilities.
 
 
 
 
 Funding and financials
 
 
 In January 2022, Seyond raised USD 118 million in a Series C funding round led by Hermitage Capital at a pre-money valuation of USD 1.1 billion. The company intended to use the funds to enhance production capabilities, expand global reach, increase headcount, and for further research and development (R&amp;D).
 
 
 
</div>

Seyond

Companies developing LiDAR and other sensors for autonomous passenger vehicles and to improve driver safety

Providers of software such as collision avoidance alerts, blind spot detection, automatic braking, and other advanced driver assistance systems

Companies developing self-driving technology for autonomous passenger vehicles including cars, buses, and shuttles

Companies offering vehicle data capturing, analyzing, tracking, and mapping solutions

Companies providing in-vehicle infotainment products such as audio equipment and other electronic systems

Companies providing cybersecurity solutions for IoT-enabled vehicle devices

Connected vehicles and related services like infotainment and cybersecurity use IoT applications

Some companies use AI/ML tech for autonomous navigation

Autonomous vehicles facilitate efficient and greener transportation, contributing to creating smart cities

Automotive companies utilize GenAI solutions to enhance in-vehicle user experiences—mainly conversational AI technologies

Autonomous cars promote sustainable operations

PROMINENT_CATEGORY

<div>
 Transportation network Lyft and mobility business API platform Smartcar have collaborated to better support electric vehicle (EV) drivers. They have introduced the "Rides in Range" feature which utilises Smartcar's API to monitor EV battery levels.
 Lyft drivers only receive ride requests that they can complete within their current battery range, plus a 20-mile allowance. The system also notifies drivers when they need to recharge, specifically when a scheduled trip would bring their battery below the 20% threshold.
 This feature is designed to alleviate any range anxiety, which is a significant concern for EV drivers using Lyft. This move is expected to boost driver confidence, increase acceptance of rides, and contribute to Lyft's 2025 target of facilitating 100 million EV rides.
</div>

Smartcar

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