4 recent moves in the autotech space you might have missed

Automotive technology is constantly evolving, with new innovations arriving at a dizzying pace. The sheer volume of news means that keeping up with the latest developments and understanding their importance can be a challenge.

That’s why today, we’re looking through four of the biggest moves in the autotech sector and what they mean for the car business.

Acquisitions

• Impel acquires Outsell: Software firm Impel has acquired Outsell, a major data platform serving the retail automotive sector, for $100 million. Impel provides generative artificial intelligence services that allow dealers to automate conversations with customers, greatly increasing customer service efficiency. By combining its AI solutions with Outsell’s “intelligent automated outreach capabilities,” the company plans to bring a comprehensive, automated sales and marketing platform to 8,000 dealerships around the world.

New funding

• Kinetic: Digital maintenance company Kinetic has secured $21 million in additional funding, with investments from major VC firms including Menlo Ventures, Allstate Strategic Ventures and Liberty Mutual Strategic Ventures. Kinetic provides software repair and calibration services for electric vehicles and cars equipped with advanced driver assistance systems through four repair hubs located in Nevada, California and Florida. The new investments will allow it to open an additional four locations to support the growing demand for digital infrastructure dedicated to EVs and AVs (autonomous vehicles).

• The Lasso: Digital retail platform The Lasso has secured $9.8 million in investments, following an early–stage seed round led by Crosslink Capital and Manresa Ventures. The Lasso is an online used car sales platform that links sellers with bids from participating dealerships, connecting owners quality offers and expanding inventory acquisition options for retailers. The new investments will allow the platform to pursue its national expansion, bringing its services to even more dealers and drivers.

New product

• RedCap, Solera + Uber parts delivery collab: Solera’s service-drive platform RedCap now supports auto parts deliveries at 5,500 dealerships across the U.S., thanks to its new partnership with Uber. The ride-sharing company has become increasingly integrated with the retail automotive sector in recent years, offering convenient transportation options for service clients. Now, fixed-ops teams can use Uber Direct to streamline and outsource parts delivery, saving time and productivity. The new feature is now available through RedCap’s Parts OnDemand platform.

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