Transport

Monthly analysis: June 2021

Innovative regions: California, New York, Massachusetts, Texas

The global electricity market is worth around $3 trillion a year and is only likely to get bigger. But if electricity power generation fails to keep up with demand securely and flexibly, what trade-offs need to be made for which devices gets what level of allocation?

Sector report: Information Technology

Paccar, Uber and Volvo Group are taking part in a $1bn PIPE supporting the autonomous driving technology developer’s reverse merger with Reinvent Technology Partners.

Softbank enabled the cybersecurity software provider Cybereason to secure crossover financing at a valuation likely to have exceeded $3bn. This year seems set to be a record one for the broader corporate-backed cybersecurity space, with valuations spiking up.

SoftBank Vision Fund 2 led a series C round for the driver safety technology developer at a valuation of almost $1bn that also featured M12.

Alibaba and SAIC Motor helped provide fresh funding for the in-car system provider having formed it as a joint venture in 2015.

Electric aircraft developer Heart Aerospace raised $35m from investors including Mesa Air and United, while several corporates are set to exit remote access software developer Openpath.

Lilith Games helped artificial intelligence software developer Inspir.ai secure $46.3m while Microsoft AI spinoff Xiaoice closed its series A round at a billion-dollar valuation.

GII led a series B round for the Hero MotoCorp electric motorcycle spinoff, the proceeds of which will go to manufacturing, R&D and market expansion.