Corporates including Denso, Mahle and Murata Manufacturing have joined existing backers like BorgWarner and Autoliv to take the ground transport-focused firm's first fund to $120m.
US-based venture capital firm Autotech Ventures launched its first fund yesterday having raised more than $120m from limited partners including several corporates in the automotive industry.
Autotech makes investments in companies focused on ground transportation technology, in areas such as vehicle technology, mobility services, electric vehicle (EV) charging, and ancillary services such as insurance or repair.
The firm had already disclosed a $10m investment by clean vehicle technology provider BorgWarner and a $15m contribution from car safety equipment…
