Summary
- Kinetic, an automotive infrastructure company in the US for EVs, raised $21 million in Series B funding led by Menlo Ventures
- Other investors included Lux Capital, Construct Capital, and Haystack Ventures, along with new investors Allstate Strategic Ventures and Liberty Mutual Strategic Ventures
- The funding will be used to accelerate business growth and expand Kinetic’s presence with more service hubs
- Kinetic offers scanning, programming, and calibration for vehicles with advanced driver assistance systems through its hubs and partnerships
- Lux Capital’s General Partner highlighted the increasing need for specialized software, systems engineering, AI, and robotics in aftermarket vehicle repair, which Kinetic is successfully developing.
Article
Kinetic, an automotive infrastructure company in the US, recently secured $21 million in Series B funding led by Menlo Ventures, with participation from Lux Capital, Construct Capital, Haystack Ventures, Allstate Strategic Ventures, and Liberty Mutual Strategic Ventures. The company offers digital repair services for EVs and operates four service hubs in Las Vegas and California. With the new funding, Kinetic plans to expand its business by launching four additional hubs in the near future. The company specializes in scanning, programming, and calibration of vehicles equipped with advanced driver assistance systems (ADAS) through its Kinetic Hubs and revenue-sharing agreements with traditional collision repair centers, dealerships, and rental fleets.
According to Bilal Zuberi, General Partner at Lux Capital and board member of Kinetic, modern cars are evolving into computers on wheels, creating a growing need for specialized repair services. Kinetic’s Hubs are designed to meet this demand by utilizing specialized software, systems engineering, AI, and robotics to automate aftermarket repair processes. Zuberi believes that as the automotive industry transitions into a new era of technology-driven vehicles, the market for Kinetic’s services will continue to grow rapidly. The company’s focus on providing tailored solutions for ADAS-equipped vehicles sets it apart in an increasingly digital and connected automotive landscape.
The funding secured by Kinetic will not only support the expansion of its service hubs but also enable the company to further develop its proprietary technology and software solutions. By leveraging AI and robotics, Kinetic aims to streamline repair processes and enhance the overall customer experience for owners of EVs and vehicles with ADAS capabilities. Through its partnership model with collision repair centers, dealerships, and rental fleets, Kinetic is able to reach a broader customer base and establish a strong presence in the automotive repair industry.
As the automotive industry continues to embrace digital transformation and the integration of advanced technologies in vehicles, companies like Kinetic play a crucial role in providing specialized repair services. By focusing on ADAS-equipped vehicles and leveraging cutting-edge software and robotics, Kinetic is well-positioned to meet the evolving needs of modern car owners. The success of the company’s business model and its ability to attract significant funding from leading investors indicate a strong market demand for its services, as well as confidence in its growth potential in the automotive repair sector.
With a strategic approach to expansion and innovation, Kinetic is poised to play a significant role in shaping the future of automotive repair services in the US. By combining expertise in software development, AI, robotics, and systems engineering, the company offers a unique solution for the repair and maintenance of ADAS-equipped vehicles. The support from investors such as Menlo Ventures, Lux Capital, and others highlights the confidence in Kinetic’s vision and ability to disrupt the traditional automotive repair industry. As the company continues to grow and expand its footprint, its focus on technological advancement and customer satisfaction will be key drivers of its success in the evolving automotive landscape.
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