The following is the 45 Unicorn companies are valued at 226.8 billion US dollars, and the field of automobile and mobile travel is becoming mature recommended by recordtrend.com. And this article belongs to the classification: Venture capital, Automobile industry.
Driving forces of automobile and mobile travel market
01, from the big environment, the comprehensive outbreak of COVID-19 in 2020 changed the way people live and travel. In terms of travel, consumers are increasingly choosing personal cars instead of sharing tools.
COVID-19 changed the way people live and travel (source: apple, Uber).
At the same time, e-commerce has also replaced the consumption of physical stores, bringing people different shopping experiences, which also further stimulates the rise of consumers’ demand for the improvement of the last mile distribution efficiency. Therefore, the logistics transportation with technological blessing has become the focus of attention in 2020. To seize this opportunity, many companies are turning to delivery.
For example, in November 2020, Cruise, a self driving start-up company, worked with WAL-MART to provide automatic driving services to consumers in Arizona. In January 2021, GM launched the new brand BrightDrop, hoping to provide customers with a brand new one-stop solution to transport goods in a better and more sustainable manner.
Under the policy of social isolation, the “stay at home economy” has flourished, and a number of new formats have ushered in explosive growth, including the automobile retail industry. Under the situation that offline transaction is facing severe challenges, people are more and more willing to purchase online, and the demand for online car purchase and vehicle delivery services is surging.
At the same time, whether in order to deal with climate change or based on environmental protection considerations, electric vehicles began to be widely concerned. At present, the regulatory systems in China and Europe are good for the electric vehicle market. At the same time, with the continuous decline of battery costs, the popularity of electric vehicles will be higher.
In 2020, technology giants will also set foot in the field of automobile and mobile travel, and will launch a more in-depth layout in 2021.
Strategic Investment: Rivian (electric vehicle), Aurora (automatic driving vehicle), Acko General Insurance (automobile insurance), Deliveroo (on demand delivery), Shuttl (travel service, mobility-as-a-service), Redwood Materials (battery recycling). In January 2021, it also expanded its partnership with lion electric, a Canadian electric vehicle manufacturer, by purchasing and owning a 15.8% stake in the company.
Acquisition of zoox in June 2020.
Products: in October 2020, Amazon and rivian jointly released the first fully automatic electric truck; in December 2020, zoox released the first self driving taxi; in February 2021, Amazon announced to test the electric delivery truck jointly developed by Amazon and rivian in Los Angeles.
Strategic Investment: in May 2020, Google’s parent company, alphabet, participated in the e-round financing of share scooter company lime with us $170 million; in March 2020, alphabet participated in the financing of its subsidiary waymo with us $2.25 billion.
Partnership: waymo cooperates with Daimler to develop and deploy large self driving trucks; cooperates with Fiat Chrysler and Volvo to develop on-board applications; and in February 2021, reaches a six-year cooperation agreement with Ford, 2023 Ford will use Android based car infotainment system and Google’s cloud service to carry out data, artificial intelligence and machine learning.
Products: in October 2020, waymo announced that it would open self driving taxi service without safety officers to the public in Phoenix and Phoenix; in February 2021, waymo began to launch self driving taxi test in San Francisco.
Product: Apple plans to launch an electric autopilot in 2024. It is reported that the company is conducting independent research and development of battery technology.
Strategic Investment: in January 2021, Microsoft invested $2 billion in cruise. As part of the investment, Cruise’s autopilot will use Microsoft’s cloud computing platform Azure. At the same time, general motors, cruise’s parent company, will cooperate with Microsoft to speed up the implementation of the automotive digital strategy including artificial intelligence, simplify the operation of the digital supply chain, and launch new travel services in the fields of autonomous taxi and last mile distribution.
Partnership: in February 2021, Volkswagen expanded its cooperation with Microsoft to jointly promote its autopilot technology.
Investment trends in automotive and mobile travel
02. On the whole, since 2018, the number and amount of investment in the field of automobile and mobile travel have shown a continuous downward trend. By 2020, a total of 522 transactions will be completed, with a total amount of US $27.626 billion.
Figure | in 2020, the investment and financing in the field of automobile and mobile travel will decline slightly (source: CB Insights)
However, it is worth mentioning that in 2020, the number of transactions completed through special purpose acquisition companies (SPAC) in this field has reached the peak of nearly six years, with a total of 22 transactions.
Fig. | in 2020, the field of automobile and mobile travel will usher in the climax of SPAC (source: CB Insights)
For example, in November 2020, AEVA, a Silicon Valley start-up focusing on lidar sensors, announced the merger and listing with interprivate acquisition Corp through the listing channel of SPAC; in December 2020, quantumscape, an American solid-state battery developer, reached an acquisition agreement with Kensington capital acquisition, a shell company, and completed the listing through spac.
This wave of backdoor listing will continue in 2021. So far, several companies, including otonomo, an Israeli auto data start-up, Joby aviation, an American air taxi start-up, hyzon motors, a zero emission hydrogen fuel cell powered commercial vehicle manufacturer, and helbiz, a micro transportation solution provider, have been listed through spac.
In terms of different regions, Europe’s share of transactions in the field of automobile and mobile travel will increase to 25% in 2020, but it is still inferior to Asia (39%) and North America (32%).
Figure | Europe’s share of transactions in the field of automobile and mobile travel will increase slightly in 2020 (source: CB Insights)
Although the number and amount of transactions in the field of automobile and mobile travel in 2020 are lower than those in 2019, from the perspective of investment rounds, the field is becoming mature. According to CB insights, in 2020, the proportion of round B and above transactions will reach 33%, an increase of 5% compared with 2019.
Figure | the proportion of each round of financing transactions in the field of automobile and mobile travel (source: CB Insights)
The top 5 enterprises that completed the largest transaction amount in 2020 were from electric cars, automatic driving cars and three major services of Rivian, namely, Chi Chi motors and China motors. They were third and fourth respectively. The other three enterprises were new electric vehicles, automatic driving old game player Waymo and shared travel service Gojek.
The big financing in 2020 covers electric cars, autopilot cars and mobile service as the three major racetracks (source: CB Insights).
According to CB insights, eight companies will grow into unicorns in 2020. So far, there are 45 Unicorn enterprises in the field of automobile and mobile travel, with a total valuation of $226.8 billion.
Figure | new Unicorn enterprises in the field of automobile and mobile travel in 2020 (source: CB Insights)
Highlights of automobile and mobile travel
03. Electric vehicles
According to CB insights, since 2015, the amount of investment transactions in the field of electric vehicles has increased for five consecutive years, and by 2020, a total of US $12.752 billion has been raised through 193 transactions. As mentioned above, the number of transactions completed through spac has reached a record high in 2020, with electric vehicle companies accounting for 68%.
Figure | the amount of financing in the field of electric vehicles is the highest in nearly six years (source: CB Insights)
From the perspective of track segments, the start-up of passenger vehicle manufacturers (OEMs) is gaining the attention of investors. For example, in January 2021, electric vehicle start-up rivian completed a new round of financing of US $2.65 billion led by T. Rowe price; in September 2020, intelligent electric vehicle developer Weima automobile completed a D round of financing of US $10 billion.
Since 2015, the investment and financing in the field of automatic driving has set a record in 2018, with 169 transactions and financing of US $6.771 billion. Compared with 2019, the number of transactions decreased in 2020, but the total amount was almost flat.
Figure | investment and financing in the field of automatic driving in the past six years (source: CB Insights)
In recent years, the ecology in the field of automatic driving has become increasingly mature. For investors, they will choose more head players to invest. At the same time, cooperation among manufacturers will continue. For example, in February 2021, Aurora announced cooperation with Toyota to jointly develop autonomous taxis; in October 2020, waymo and Daimler jointly developed L4 Class Autonomous trucks.
Internet of vehicles
In the field of Internet of vehicles, the investment and financing situation began to show a downward trend since it reached its peak in 2018. In 2020, compared with 2019, the amount of financing transactions decreased from US $2.16 billion to US $1.044 billion, a decrease of more than 50%. More money is turning to autonomous driving and electric vehicles.
Figure | investment and financing in the field of Internet of vehicles in recent six years (source: CB Insights)
According to CB insights, enterprises in the automotive retail sector completed 89 transactions in 2020, with a total value of US $2788 million, down nearly 32% from US $4087 million in 2019.
Figure | investment and financing situation of automobile retail sector in recent 6 years (source: CB Insights)
Affected by the epidemic, the way of automobile retail is gradually changing from offline to online digital. Seize this opportunity, many related enterprises completed the listing. For example, in June 2020, American online used car retailer vroom completed its IPO on NASDAQ. Founded in 2012, the company is an end-to-end e-commerce platform dedicated to changing the used car industry by providing better ways to buy and sell. In addition, in October 2020, shift technologies completed its listing through reverse merger and acquisition. This is an online trading platform for used cars, which was established in 2014 and provides services in San Francisco, Los Angeles, San Jose, San Diego and Portland.
In addition, the online trading platform also made some progress during the epidemic period. For example, cazoo, a British used car e-commerce platform headquartered in London, completed the financing of 240 million pounds (about 311 million dollars) in October 2020.
Bicycles and scooters
After a sharp decline in 2019, investment and financing in the field of bicycles and scooters will pick up slightly in 2020, with a total of 83 transactions completed, with a total amount of US $2.373 billion, but still less than the performance of 2018 (110 transactions raised US $4.924 billion).
Figure | investment and financing in the field of bicycles and scooters in the past six years (source: CB Insights)
Although the industry is still facing profit problems, it has become mature on the whole. Since 2016, the proportion of the number of early financing events in this field has gradually decreased, and investors pay more attention to the mid and late stage enterprises.
Figure | the proportion of investment rounds in the field of bicycles and scooters in the past six years (source: CB Insights)
Travel as a service
According to CB insights, investment and financing activities in the field of travel as a service have declined for two consecutive years, reaching the lowest level since 2015 in 2020.
Figure | investment and financing in the field of mobile as a service in the past six years (source: CB Insights)
However, in Europe, this field has performed well, and several companies have obtained financing one after another: in December 2020, voi technology, a sharing electric scooter company, announced a new round of financing of US $160 million led by the Raine group. In the same month, the Estonian based on-demand transport platform bolt raised 150 million euros, which was led by D1 Capital Partners and participated by Darsana Capital Partners.
04, under the influence of COVID-19, the global automotive and mobile travel field is undergoing hitherto unknown transformation to a new mobile travel ecosystem. For industry insiders and industry subversives, if they want to seize this opportunity, they need to win in this life cycle with newer technology and more acceptable products.
Read more: the future of mobile travel: where to go next? Silicon Valley Bank: future report of mobile travel Research: 2014-2015 China Mobile Travel Market Research China Automobile Circulation Association: China automobile import and export analysis from January to April 2020 Revenue: 10.753 billion in 2019, original sales leads accounting for nearly 70% Weilai: 1533 vehicles delivered in March, a big increase of 117% compared with the previous month Why the loss is more serious with the increase of sales volume: Problems and solutions of Automobile Supply Chain Finance
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