Car Tech Startup Investment Exceeds $1 Billion In 2016

Forbes reported that the car tech startup investment is booming, with CB Insights reporting a variety of private companies investing in an array of startups covering a wide range of automotive categories. Automakers were especially active, led by GM’s massive stake in Lyft and acquisition of Cruise Automation early last year. Other OEMs making large bets on mobility include Toyota with Uber, Volkswagen with Gett, BMW iVentures with Zendrive and Daimler with Blacklane and a variety of other investments.

According to CB Insights, the main countries leading these investments include the US, Canada, and Israel, with burgeoning startups including lidar developer LeddarTech and Argus.

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