Scaling an autonomous vehicle or EV startup often requires eye-popping amounts of capital that only hedge funds, strategic venture arms and institutional investors have the appetite and funds for.Â
In the past two years, those capital needs have prompted dozens of mobility startups to turn to either public markets or deep-pocketed hedge funds and venture arms of automakers and suppliers. Arrival, Canoo, Faraday Future, Lucid Group, Luminar Technologies and Nikola are just a few of the companies that went public via mergers with special purpose acquisition companies, while Rivian and TuSimple took the traditional IPO route. Other startups, perhaps not ready for that stage, turned to GM, Toyota’s Woven Capital and BMW Ventures — …
