Intel, Denso, Castrol, Volvo, Magna and UPS all contributed to an oversubscribed round for the vehicle systems developer, which will invest the cash in its technology.
US-based technology company Peloton Technology raised $16m in an oversubscribed series A round yesterday led by car components manufacturer Denso International America and Intel Capital, the corporate venturing arm of chip maker Intel.
Auto parts supplier Magna International, and Castrol InnoVentures, Volvo Group Venture Capital and UPS Strategic Enterprise Fund, the respective corporate venturing subsidiaries of industrial and automotive lubricants producer Castrol, industrial group Volvo, and logistics company UPS, also invested in the round.
The corporates were joined by existing…
