MAKING MOBILITY MOVES
An update on all things Autotech
Spring 2024
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Generative AI: Realities in the Hype
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As the frenetic buzz around GenAI begins to die down, we continue to see many experimental applications of GenAI in mobility, manufacturing, supply chain/logistics, and horizontal back office functions. Many of the most promising demos have struggled to be “good enough” to scale. That’s because GenAI models are synthesizing systems with no inherent ability to distinguish good data from bad unless significant guardrails are put in place.
Because of this limitation, GenAI can’t tell you how to change your operating parameters to get more out of your factory. Instead, what GenAI is very good at is changing information from one format to another. We are seeing several exciting new product themes emerge that GenAI makes possible:
- Applying GenAI to extract data from disparate sources, transform it, and then load it into another platform, such as taking information contained in email or PDF and automatically populating the structured fields in an ERP (or CRM, TMS, WMS, or other specialized system of record). ERPs offer automation features that could bring big benefits if users had time to collect and format necessary data. GenAI models can now automate much of this work, enabling complex task automation that previously relied on this data.
- Flattening the learning curve for new tech tools and data analytics using natural language interfaces. GenAI makes it possible for users to describe their questions or desired outcomes to the tech tool, enabling users to quickly get results from a new tool without first learning the controls.
We’re excited to see a new wave of GenAI companies that understand these opportunities and are making the most of their capabilities to build powerful new tools for workers in ground transportation and adjacent sectors.
This is just a glimpse into our GenAI investment thesis. Contact Ivy Ngyuen if you’d like to learn more or have a more in-depth conversation.
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On the Funding Front:
Portfolio Companies in the News:
- Mundimoto reported an exceptional year of growth in 2023, including €70M turnover, 15,000 motorcycles sold, close of a €10M round and expansion in Europe.
- BUSUP was named one of Brazil's most influential companies in mobility by Grupo Estado.
- Gridwise released its 2024 Gig Mobility Report - a comprehensive overview of the dynamic gig mobility landscape in the U.S.
- Jordan Miller, CEO of Yendo, was named one of D Magazine's 500 Most Powerful Business Leaders in Dallas.
- Latent AI was selected by the U.S. Army for its initial xTechPrime initiative - a new program that connects small businesses with technology integrators.
- Fixco expanded its strategic partnership with Europcar Mobility
 Group, one of the world's leading mobility providers, to Germany after successful collaborations in Belgium and the Netherlands.
- Veo, Hayden AI, and Verdant Robotics were included on Time’s prestigious list of America's Top GreenTech Companies.
- Outdoorsy Co-Founder Jen Young was named to Inc.'s 2024 Female Founders 250 List.
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For regular news and updates from Autotech Ventures, follow us on LinkedIn and Twitter. |
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VIDEO SERIES: BETWEEN TWO LIGHTBULBS
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We continue to release new episodes of “Between Two Lightbulbs,” our video interview series where we sit down with the founders of our portfolio companies learn about their founder story, and discuss their approach to solving mobility challenges and what’s on the horizon for the companies.
Latest Episodes:
Episode 5: Bumper
Episode 6: Laka
You can watch past episodes here.
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Automechanika Riyadh
April 30 - May 2
Riyadh, Saudi Arabia
Quin Garcia, co-founder and managing director, will be presenting at Automechanika Academy on April 30. The session is titled, “Role of Start-ups Spearheading the Future of Mobility.”
Mobility Live ME
April 30 - May 1
Abu Dhabi
On May 1, Quin Garcia will host a keynote, providing a venture perspective on the future of mobility, and will participate in a panel discussion about “Impactful investment: seizing an emerging opportunity to develop an ecosystem in the region.”
Auto Finance Summit
May 1-3
Nashville
Burak Cendek, partner, will judge the tech demos at the conference on May 2 from 3:30 to 5 p.m. Stop by if you’re at the event.
Move London
June 19-20
Alexei Andreev, co-founder and managing director, will participate in a panel on June 20 titled “Investing in mobility start-ups: what does winning look like?” Autotech will also be hosting an Autotech Connect event. If you’re attending the conference, please reach out!
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