Kinetic, a Santa Ana, CA-based automotive infrastructure company that delivers digital maintenance and servicing for EVs and AVs through its network of service centers, raised $21m in Series B funding.
The round was led by Menlo Ventures, with participation from returning investors Lux Capital, Construct Capital and Haystack Ventures along with new investors Allstate Strategic Ventures and Liberty Mutual Strategic Ventures.
The company will use the new funding to accelerate its business growth and continue to add top technology and engineering talent to its team.
Founded in September 2021 by Nikhil Naikal and Sander Marques, Kinetic is an automotive infrastructure company that delivers digital repair for modern vehicles, including EVs, AVs and PHEVs. The company’s certified technicians leverage Kinetic’s proprietary AI, computer vision and robotics to provide digital repair of modern vehicles for the automotive aftermarket. The company offers scanning, programming and calibration of all modern vehicles equipped with advanced driver assistance systems (ADAS) via its Kinetic Hubs, which are staffed by certified technicians, and through revenue-sharing agreements with traditional collision repair centers, dealerships and rental fleets.
Kinetic currently operates four service hubs across the nation—in Las Vegas and in Orange County, San Bernardino and Lake Elsinore in California—and plans to launch four additional hubs in the coming months to meet the demand for repair of the digital systems that power modern vehicles.
FinSMEs
20/06/2024