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Assembly Ventures closes $76M Fund I to invest in cutting-edge mobility startups

Assembly Ventures founders
Picture credits: Assembly Ventures

US-based Assembly Ventures is an early-stage transatlantic venture capital platform investing in cutting-edge technologies across the mobility sector. The company has announced the successful closing of its inaugural $76 million Assembly Ventures Fund I. 

Assembly’s investors include strategic corporates such as Arbor Bancorp Inc., CRONIMET,  MANN+HUMMEL, Renaissance Global Logistics, Stellantis Ventures, Vontier, and WF  Whelan, and a pension fund UA Local 467 Defined Benefit Plan. With its unique investment thesis Assembly also attracted a long list of individual investors in the U.S. and Europe. 

Investment plans 

Its first fund is focused on seed, Series A, and B investments and is committed to strategically supporting outstanding entrepreneurs driving transformative innovations across land, air, sea, and space. With the successful closing of the fund, Assembly Ventures is in the process of opening an office in the German capital to advise on European investments.  

Chris Thomas, co-founder and partner at Assembly Ventures said, “We are proud to have  reached this significant investment milestone, which stands as a huge testament to our  team’s credentials, investment thesis, and unwavering efforts over the past few years in a  challenging market environment.” Thomas added, “We believe that the world is on the cusp of a new geopolitical era where the West will increasingly choose to de-risk its heavy reliance on China. In the coming decades, we anticipate a radical reshaping of economies, especially in automotive and mobility technology across air, land, sea, and space, along with  their respective supply chains.” 

Notable investments 

Assembly Ventures was founded in 2020 by experienced mobility investors and operators Chris Thomas, Jessica Robinson, and Felix Scheuffelen in Detroit. With $94 million in assets under management, Assembly Ventures has announced several investments as follows:

● Metropolis Technologies, a mobile commerce platform powered by advanced computer vision enabling seamless payment in any automotive environment.

● NAVIT, an all-in-one corporate mobility benefits and CO2 tracking software platform.

● Our Next Energy (ONE), an energy storage company focused on battery technologies that will accelerate the adoption of EVs.

● Sortera, a technology-powered industrial company bringing artificial intelligence to the recycling industry, starting with aluminum.  

“Selecting investors with a shared vision and values is one of the most important and foundational decisions a new company can make,” said Mujeeb Ijaz, CEO & Founder of  ONE. “As an early-stage investor, Assembly Ventures has used their team’s business  relationships, sector knowledge, and operations expertise to help ONE grow efficiently and  scale its manufacturing ecosystem here in Michigan.” 

Presence at IAA Mobility show

Assembly Ventures has recently been selected by the Association of the German Automotive Industry to bring a day of programming at IAA Mobility, the world’s largest automotive and mobility show on September 6, 2023, in Munich, Germany. 

The Assembly Summit will bring together global business leaders, investors, and visionary entrepreneurs to discuss the current state of the industry and topics shaping the automotive and mobility sector. Previously, it was present at the 2022 Assembly Summit, which took place in Detroit, Michigan during the Detroit Auto Show.  

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