Tracxn Research - Electric Vehicles Report, April 2017

Electric Vehicles – April 2017 Copyright © 2017, Tracxn Technologies Private Limited. All rights reserved.
Tracxn
World’s Largest Startup Research Platform
2

Contents
Topic Page No.
Scope of Report 04
Entrepreneur Activity 06
Investment Trend 11
Who is Investing 21
Exit Outlook - IPO, Acquisitions 26
Sub Sector Analysis 29
Interesting Companies 49
Useful Links 68
Company List 70
Team 290
3

Sector Overview
Scope of report
This report covers companies focusing of providing technology solutions for sustainable and energy efficient transportation. These
companies help in promotion and adoption of electric vehicles.
The report excludes traditional automakers such as Daimler, Toyota, Renault-Nissan, General Motors, BMW, Mitsubishi, Ford,
Audi, etc. which also develop electric vehicles. The conglomerates like Panasonic, LG Chem and Samsung which are leading battery
manufacturers are also excluded from the scope of the report.
The scope of this report includes equity as well as debt funding received by the companies.
Disclaimer: The information and data in the report is based on global developments tracked in the sector till March 22, 2017. This is to categorically state that any
events and relevant developments after the said date will not reflect in the report.
4
Business Model Description
Automaker
Companies focused on developing and manufacturing electric vehicles. These include companies which develop
electric cars, electric two-wheelers, electric commercial vehicles such as trucks and buses and electric personal
transport equipment such electric longboards.
Components
Companies focused of developing components for the electric vehicles and working towards improvement of the
technology powering these components. These include companies working on developing efficient electric and
hybrid drive systems, batteries, motors and power electronics for electric vehicles.
Charging Solutions
Companies working towards developing charging infrastructure to support electric vehicles and assist is mass
adoption of the these vehicles. These companies focus on setting up the charging network and develop plug-in and
wireless charging systems for residential, commercial and public applications.
Vehicle-as-a-service Companies providing electric vehicle sharing solutions resulting in increased adoption of electric vehicles.

Scope of Report
Entrepreneur Activity
Investment Trend
Who is Investing
Exit Outlook - IPO, Acquisitions
Sub Sector Analysis
Interesting Companies
Useful Links
Company List
Team
5
Contents

145
136
126
140
186 185
100
0
40
80
120
160
200
2010 2011 2012 2013 2014 2015 2016
#ofCompanies
YoY – Number of companies founded
6
Zee.Aero Gogoro Ninebot Ather Energy Singulato Motors LeSEE InstaVolt
VIA Motors Torrot Electric StoreDot Cityscoot NIO WM Motor Mainpine

Large Upcoming Sectors
# of Companies
Founded
Average
Age
# of Companies
Funded
Business Model
Total
Funding
Example
113 May-2012 25
Automaker > Nontraditional > Personal
Transport Equipment
$223M segway.com
Segway
1999, Bedford
44 May-2012 16 Vehicle-as-a-service > Cars $23M iponycar.com
Ponycar
2017, Shenzhen
128 Aug-2011 31 Charging Solutions > Charging Network $916M voltacharging.com
Volta Charging
2010, San Francisco
44 May-2011 13
Charging Solutions > Charging Network >
Enablers
$16M greenlots.com
Greenlots
2008, Singapore
59 Feb-2010 9 Automaker > Two-wheelers > Motorcycles $161M zeromotorcycles.com
Zero Motorcycles
2006, Scotts Valley
211 Nov-2008 29 Automaker > Two-wheelers > Bicycles $61M tsinova.com
TSINOVA
2014, Beijing
146 Nov-2008 46 Automaker > Cars $10.1B lesee.leeco.com
LeSEE
2015, Beijing
163 Jan-2007 40 Charging Solutions > Plug-in Charging $529M chargepoint.com
ChargePoint
2000, Apeldoorn
7

Large Upcoming Sectors
# of Companies
Founded
Average
Age
# of Companies
Funded
Business Model
Total
Funding
Example
94 Jun-2006 16 Automaker > Two-wheelers > Scooters $326M gogoro.com
Gogoro
2011, Taipei
123 Aug-2005 51 Components > Electric Drive Systems $627M proteanelectric.com
Protean Electric
2009, Troy
185 Sep-2004 28 Automaker > Commercial Vehicles $676M proterra.com
Proterra
2004, Greenville
85 May-2004 30 Components > Batteries $2.1B byd.com
BYD
1995, Shenzhen
8

Niche Upcoming Sectors
# of Companies
Founded
Average
Age
# of Companies
Funded
Business Model
Total
Funding
Example
19 Apr-2014 5 Vehicle-as-a-service > Scooters $21M cityscoot.eu
Cityscoot
2013, Paris
5 Sep-2012 2 Vehicle-as-a-service > Bicycles $170K green-on.fr
Green On
2009, Paris
6 Jan-2012 2 Conversion Kits > Commercial Vehicles $430K hyliion.com
Hyliion
2015, Pittsburgh
17 May-2011 10 Charging Solutions > Wireless Charging $43M pluglesspower.com
Evatran
2009, Wytheville
14 May-2010 8 Automaker > Nontraditional > Aerial $118M zee.aero
Zee.Aero
2010, Mountain View
18 Jul-2009 4 Automaker > Nontraditional > Marine $9M seabubbles.fr
SeaBubbles
2015, Paris
9 May-2009 2
Components > Electric Drive Systems >
Bicycles
$9M zehus.it
Zehus
2013, Milano
9

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
10
Contents

YoY – Number of Rounds and Total Funding
$0.6B
$1.5B
$1.2B
$1.3B
$1.0B
$0.3B
$0.8B
$1.1B
$6.7B
27
40
63
68 66
77
97
132 127
0
28
56
84
112
140
0.0
1.4
2.8
4.2
5.6
7.0
8.4
2008 2009 2010 2011 2012 2013 2014 2015 2016
#ofRounds
FundingAmountin($B)
12

YoY – Number of Rounds by Stage
0
28
56
84
112
140
2011 2012 2013 2014 2015 2016
#ofRounds
Early
Late
Seed
13

YoY – Funding by Stage
0
900
1800
2700
3600
4500
5400
2011 2012 2013 2014 2015 2016
TotalFundingin($M)
EarlyLate
Seed
14

Average Ticket Size – Early Stage
$1.2M $2.1M $0.7M $0.8M $1.1M $1.2M
$11.1M $12.7M
$5.1M $7.4M
$32.5M
$96.5M
$38.1M
$15.3M
$7.5M $8.5M
$14.9M
$54.6M
0.0
24.0
48.0
72.0
96.0
120.0
2011 2012 2013 2014 2015 2016
FundingAmountin($M)
Seed Series A Series B
15

Company
Funding
Amount
Round
Name
Date Investors
lesee.leeco.com
LeSEE
(Beijing, 2015)
$1.1B Series A Sep-2016
Lenovo, Shenzhen Capital Group, China Minsheng Trust, Macrolink Group
Limited
wm-motor.com
WM Motor
(Shanghai, 2015)
$1B Series A Aug-2016 Undisclosed
zhicheauto.com
Singulato Motors
(Beijing, 2014)
$600M Series B Nov-2016 Undisclosed
nio.io
NIO
(Shanghai, 2014)
$600M Series C Mar-2017 Baidu, Tencent, Hillhouse Capital, Lenovo, GIC, TPG, IDG Capital Partners
byd.com
BYD
(Shenzhen, 1995)
$450M Series G Jul-2016 Samsung
proterra.com
Proterra
(Greenville, 2004)
$140M Series E Jan-2017
Tao Capital Partners, KPCB, GM Ventures, Constellation, 88 Green Ventures,
Edison Energy
chehejia.com
Chehejia
(Beijing, 2015)
$120M Series A May-2016 Leo Group, Source Code Capital, FutureCap
chargepoint.com
ChargePoint
(Campbell, 2007)
$82M Series G Mar-2017
Daimler, BMW i Ventures, Linse Capital, Rho Capital Partners, Braemar
Energy Ventures
16
Top investments in last one year

Company
Funding
Amount
Round
Name
Date Investors
proteanelectric.com
Protean Electric
(Troy, 2009)
$70M Series B Jul-2016
Oak Investment Partners, Zhejiang VIE Science & Technology, Tianjin THSG
Corporation, GSR Ventures
chargepoint.com
ChargePoint
(Campbell, 2007)
$58M Series F May-2016
Braemar Energy Ventures, Constellation, Statoil, Envision Ventures, Linse
Capital
xiaopeng.com
Xiaopeng
(Guangzhou, 2015)
$42M Series A Mar-2016 Undisclosed
navya.tech
Navya Technology
(Paris, 2014)
$34M Series B Oct-2016 Keolis, Valeo, CapDecisif, Gravitation, Robolution Capital
atherenergy.com
Ather Energy
(Bangalore, 2013)
$27M Series B Oct-2016 Hero MotoCorp
tsinova.com
TSINOVA
(Beijing, 2014)
$23M Series B Aug-2016 Tsinghua Holdings Capital
whill.us
Whill
(San Francisco, 2012)
$18M Series B May-2016 Eight Roads Ventures
cityscoot.eu
Cityscoot
(Paris, 2013)
$17M Series A Jul-2016 Avolta Partners, LeasePlan
17

Company
Funding
Amount
Round
Name
Date Investors
visedo.com
Visedo
(Lappeenranta, 2009)
$16M Series B Dec-2016
Emerald Technology Ventures, Finnish Industry Investment, Sinituote, VNT
Management, Green Campus Innovations, Suffice Group, Ilmarinen, LahiTapiola
easymile.com
EasyMile
(Toulouse, 2014)
$15M Series A Jan-2017 ALSTOM
instavolt.co.uk
InstaVolt
(Basingstoke, 2016)
$15M Series A Dec-2016 Zouk Capital
addenergietechnologies.com
AddEnergie
(Quebec City, 2009)
$13M Series A Apr-2016 CDPQ, Investissement Quebec
voltacharging.com
Volta Charging
$12M Series B Oct-2016 Undisclosed
lilium-aviation.com
Lilium Aviation
(Gilching, 2015)
$11M Series A Dec-2016 Atomico
pod-point.com
POD Point
(London, )
$9M Series C Feb-2017 Draper Esprit, Barclays
aquariusengines.com
Aquarius Engines
(Rosh Haayin, 2014)
$8M Seed Jun-2016 Undisclosed
18

Company
Funding
Amount
Round
Name
Date Investors
efficientdrivetrains.com
Efficient Drivetrains
(Palo Alto, 2006)
$8M Series C Sep-2016 H&Q Asia Pacific
zapgo.com
ZapGo
(Oxford, 2013)
$8M
Convertible
Debt
Sep-2016 Undisclosed
altamotors.co
Alta Motors
$8M Series A May-2016 Undisclosed
iponycar.com
Ponycar
(Shenzhen, 2017)
$7M Angel Mar-2017 Undisclosed
dubucmotors.com
Dubuc Motors
(Quebec City, 2013)
$6M
Equity
Crowdfunding
May-2016 StartEngine
immotor.com
Immotor
(Shenzhen, 2015)
$6M Seed Dec-2016 Undisclosed
elixwireless.com
ELIX Wireless
(Vancouver, 2013)
$5M Series A Sep-2016 Chongqing Zongshen Power Machinery Co Ltd
nohms.com
Nohms Technologies
(Rochester, 2010)
$5M Series B Aug-2016 Phoenix Venture Partners, Solvay, Empire State Development
19

Company
Funding
Amount
Round
Name
Date Investors
hyperdriveinnovation.com
Hyperdrive Innovation
(Sunderland, 2010)
$5M Series A May-2016 Hamilton Capital, Rivers Capital Partners
vardenlabs.com
Varden Labs
(Waterloo, 2015)
$5M Seed Dec-2016 Maven Ventures, FundersClub
avidtp.com
AVID Technology
(Cramlington, 2009)
$4M PE Jul-2016 NVM Private Equity, Downing, North East Technology Fund
seabubbles.fr
SeaBubbles
(Paris, 2015)
$4M Series A Dec-2016 MAIF, Partech Ventures
fazua.com
Fazua
(Munich, 2011)
$3M Series B Mar-2017 High-Tech Grunderfonds, Bayern Kapital
g2mobility.com
G2mobility
(Sevres, 2009)
$3M Series B Apr-2016 Nexans, Bpifrance, Innovacom
fastned.nl
Fastned
(Amsterdam, 2012)
$3M Series A Dec-2016 Undisclosed
arcimoto.com
Arcimoto
(Eugene, 2007)
$2M Series A Oct-2016 Undisclosed
20

Funnel view of Sector
Percent of
Previous
24%
36%
51%
91
42
75
148
410
1711
0 360 720 1080 1440 1800
M&A & IPO
Late
Series B
Series A
Funded
Founded
# of Companies
21

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
22
Contents

Most Active Investors in Sector
12
9
8 8
7
6
5 5 5
4
0
3
6
8
11
14
Climate-KIC Department
of Energy (US)
California
Energy
Commission
GSR
Ventures
Sequoia
Capital
KPCB Draper Fisher
Jurvetson
Startup
bootcamp
UK
Government
500
Startups
TotalNumberofCompanies
23
Lilium Aviation XL Hybrids
Zero
Motorcycles
Boston
Power
NIO
Fisker
Automotive
Tesla Star Engines
Zytek
Automotive
ZBoard
ViriCiti Tesla Wrightspeed
Protean
Electric
A123 Systems Proterra Think Global Cookee
Ashwoods
Automotive
Whill

Where are Top Investors investing
Climate-
KIC
Department
of Energy
(US)
California
Energy
Commission
GSR Ventures
Sequoia
Capital
KPCB
Draper
Fisher
Jurvetson
Startup
bootcamp
UK
Government
500
Startups
Automaker
Lilium
Aviation,
Urban-e.com,
E-Trailer
Tesla, Smith
Electric
Zero
Motorcycles,
Tesla, Proterra
Niu, IAT
Automobiles
Technology
Company,
TwoWheelsCar
NIO,
Ninebot,
Niu
Fisker
Automotive,
Proterra
Tesla, Think
Global,
Mahindra Reva
Cookee,
Ampersand,
Faraday
Motion
Asap Water
Crafts
ZBoard,
Whill,
Riide
Components Libralato
XL Hybrids,
A123 Systems,
UQM
Technologies
Wrightspeed,
Motiv Power
Systems,
TransPower
Boston Power,
Protean Electric
A123
Systems
SINOEV
Technologies
Shanghai Dajun
Technologies,
Jing-Jin Electric
Technologies
Zytek
Automotive,
Ashwoods
Automotive,
Tevva Motors
Charging
Solutions
Blue
Inductive,
Ebee Smart
Technologies,
PlugSurfing
ECOtality,
Evatran
EV Connect ChargeDot ChargePoint Star Engines
Volta
Charging
Vehicle-as-a-
service
Emmy Sharing
Conversion Kits Nuwiel Hyliion
Vehicle
Management
ViriCiti coModule Delta Motorsport
Retail eBikeFinder
24

Top Investor by Stage of Entry
Draper Fisher Jurvetson 2
Earlybird 2
High-Tech Grunderfonds 2
KPCB 2
Vision Ridge Partners 2
Zhejiang VIE Science &
Technology
2
KPCB 4
Angeleno Group 2
Constellation 2
Daimler 2
Engie 2
GE 2
GIC 2
GM Ventures 2
RockPort Capital 2
VantagePoint Capital
Partners
2
Seed Series A Series B Later Stage
Sequoia Capital 6
GSR Ventures 4
JD.Com 3
KPCB 3
Shunwei 3
500 Startups 2
BayBG 2
Chrysalix EVC 2
Draper Fisher Jurvetson 2
Earlybird 2
Y Combinator 4
500 Startups 3
Climate-KIC 3
C3E 2
Ecofuel Accelerate 2
FundersClub 2
High-Tech Grunderfonds 2
Pasadena Angels 2
Startupbootcamp 2
Tech Coast Angels 2
25

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
26
Contents

Top IPOs in last three years
IPO
Date
Company Overview
Funding
Amount
Dec-2015 energicasuperbike.com
Energica Motor Company
(Modena, 2010)
All-electric motorcycle manufacturer

Date Company Acquirer
Deal
size
Overview
Total
Funding
Mar-2017 ev-box.com
EV-Box
(Amsterdam, 2010)
Engie Undisclosed
EV charging infrastructure and cloud-based solutions
Gilde Equity Management (GEM) Benelux
Feb-2017 pvi.fr
PVI
(Gretz-armainvilliers,
2007)
Renault Undisclosed
Heavy duty electric vehicles
Feb-2017 voltamotors.in
Volta Motors
(Chennai, 2015)
Smartron Undisclosed
Developer of electric bicycles
Kalaari Capital
$100K
Jan-2017 elektromotive.com
Elektromotive
(Shoreham-by-sea, 2003)
Chargemaster Undisclosed Developer of plug-in EV charging stations
Jan-2017 chargeyourcar.org.uk
Charge Your Car
(Shoreham-by-sea, 2010)
Chargemaster Undisclosed Charging point management and locator services
Dec-2016 faradaybikes.com
Faraday Bicycles
Pon Holdings Undisclosed
Electric bicycles maker
Maiden Lane, NEST
$3.9M
Nov-2016 delta-q.com
Delta-Q Technologies
(Burnaby, 1999)
Zapi Group Undisclosed
Battery charging solutions
Tandem Expansion Fund
$17M
Aug-2016 zhyle.com
YinLong
(Zhuhai, 2004)
Gree Electric
Appliances
$2B
Electric buses and Lithium ion battery packs
Apr-2016 ridemission.com
Mission Motors
Vayon Group Undisclosed
Components manufacturer for EV
SoftTech VC, Warburg Pincus, Infield Capital
$14M
28
Major Acquisitions in last one year

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
29
Contents

March 2017Tracxn BlueBox : Electric Vehicles
Cumulative funding in the sector
1550+ companies in the sector, 256 funded in last 5 years, $6.34B invested in 2016/17 (YTD)
Most Active Investors: Climate-KIC, Sequoia Capital, GSR Ventures, KPCB, DFJ, US DOE
CHARGING SOLUTIONS
PLUG-IN CHARGING
ChargePoint (2007, $156M)
WIRELESS CHARGING
Evatran (2009, $16M)
AUTOMAKER
MULTI-CATEGORY
Polaris Industries (1954, IPO)
FDG Electric Vehicles (1990, IPO)
COMMERCIAL VEHICLES
Proterra (2004, $345M)
CARS
Tesla Motors (2003, IPO)
WM Motor (2015, $1B)
MOTORCYCLES
Zero Motorcycles (2006, $134M)
BICYCLES
TSINOVA (2014, $44M)
NONTRADITIONAL
Segway (1999, $102M, Acq.)
SCOOTERS
Vmoto (2002, IPO)
Gogoro (2011, $180M)
VEHICLE-AS-A-SERVICE
COMPONENTS
$132M
$448M
ELECTRIC DRIVE SYSTEMS
Protean Electric (2009, $154M)
$535M
BATTERIES
Boston Power (2005, $638M)
$1.8B
MOTORS
UQM Technologies (1967, IPO)
$77M
Cityscoot (2013, $16.5M)
$46M$36M
$531M
$6.3B
$153M
$59M
$402M
$320M
$7.9B $1.3B $2.4B
CHARGING NETWORK
Car Charging Group (2009, IPO)
Volta Charging (2010, $24M)
$852M
Enablers
Greenlots (2008, $7M)
31

Top Business Models by Funding
$7.9B
$2.4B
$1.3B
$46M $8M $4M
0
1600
3200
4800
6400
8000
9600
Automaker Components Charging Solutions Vehicle-as-a-service Conversion Kits Vehicle Management
TotalFundingin($M)
Avg. Age Jan-08 Nov-04 Jul-09 Sep-12 Apr-12 Jun-11
32
# Cos. 961 245 342 77 38 20
Fisker Automotive BYD Better Place Cityscoot Superpedestrian Spiers New Technologies
LeSEE Boston Power ChargePoint Ponycar Rool'in ViriCiti

Automaker – Business Model Description
Companies focused on developing and manufacturing electric vehicles. These include companies which develop electric
cars, electric two-wheelers, electric commercial vehicles such as trucks and buses and electric personal transport
equipment such electric longboards.
Two-wheelers Nontraditional Commercial Vehicles Cars Multi-category
Vehicles
Developers of Personal
Transport Equipment
and other non-
traditional electric
vehicles
Developers of
commercial vehicles
such as trucks, buses,
vans, etc.
Companies focused on
developing electric cars Companies which
manufacture four-
wheelers, three-
wheelers and two-
wheelers.
Companies developing
two-wheeled electric
vehicles such as electric
scooters, motorcycles,
mopeds and bicycles

Automaker – Entrepreneur Activity and
Investment Trend
$306M
$988M
$574M $786M $621M
$187M
$287M
$952M
$5.4B
13
20
24
28
23
28
41
64
72
0
16
32
48
64
80
0
1200
2400
3600
4800
6000
2008 2009 2010 2011 2012 2013 2014 2015 2016
#ofRounds
FundingAmountin($M)
YoY – Total Funding and No. of Rounds
46
71
76
63
58
83
105 107
60
0
24
48
72
96
120
2008 2009 2010 2011 2012 2013 2014 2015 2016
#ofCompaniesFounded
YoY – No. of Companies Founded
233
173
75
50 45 42 41 36
0
50
100
150
200
250
United
States
China India Germany United
Kingdom
Netherlands France Spain
#ofCompanies
Distribution of Companies across Countries
$6.3B
$566M $531M $402M
$132M
105
98
55
67
7
0
24
48
72
96
120
0
1400
2800
4200
5600
7000
Cars Two-wheelers Commercial
Vehicles
Nontraditional Multi-category
Vehicles
#ofRounds
FundingAmountin($M)
BM wise Investment
34

Automaker – Most Funded Companies
Company Overview
Business
Model
Funding
Amount
fiskerautomotive.com
Fisker Automotive
(2008, Irvine)
Electric Car maker
NEA, KPCB, Qatar Investment Authority, Palo Alto Investors, seventysixcapital, Advanced Equities,
Egis Captial Partners, A123 Systems, InvestWithACE, Israel G-tek, ThomasLloyd
Automaker > Cars $1.2B
lesee.leeco.com
LeSEE
(2015, Beijing)
Under development autonomous electric supercar
Lenovo, Shenzhen Capital Group, Macrolink Group Limited, China Minsheng Trust
nio.io
NIO
(2014, Shanghai)
Developer of smart electric cars
Lenovo, Sequoia Capital, JD.Com, Baidu, IDG Capital Partners, Temasek, TPG, Tencent, Shunwei,
GIC, Hillhouse Capital, Joy Capital, Yiche, Magic Stone Alternative
wm-motor.com
WM Motor
(2015, Shanghai)
Smart electric car
Automaker > Cars $1B
zhicheauto.com
Singulato Motors
(2014, Beijing)
Developer of smart electric car
Intel Capital, GX Capital
Automaker > Cars $601.6M
teslamotors.com
Tesla
(2003, Palo Alto)
Electric car developer
Deutsche Bank, Draper Fisher Jurvetson, J.P. Morgan, Technology Partners, Compass Technology
Partners, Silver Lake, VantagePoint Capital Partners, Capricorn, Department of Energy (US),
Westly Group, Aabar Investments, Panasonic, Daimler, SDL Ventures, Toyota Motor Corporation,
Think Big Partners, Fjord Advisors, Valor Equity Partners, Juvo Capital, Darwin Ventures, Draper
Associates, DBL Partners, California Air Resources Board, California Energy Commission
Automaker > Cars $404M

Automaker – Most Funded Companies
Company Overview
Business
Model
Funding
Amount
proterra.com
Proterra
(2004, Greenville)
Electric Bus Manufacturer
KPCB, Silicon Valley Bank, Mitsui & Co. Global Investment, GM Ventures, Obvious Ventures, HTGC,
88 Green Ventures, Hennessey Capital, Constellation, Third Shore Group, Vision Ridge Partners,
NMT Capital, Tao Capital Partners, Hennessey Capital, Edison Energy, California Energy
Commission, MK Energy and Infrastructure
Automaker >
Commercial Vehicles
$344.8M
codaautomotive.com
Coda Automotive
(2009, Los Angeles)
Electric car producer
Aeris Capital, EDBI, Harbinger Venture Management, Angeleno Group, Riverstone Holdings, Indus
Capital, Countyline

Components – Business Model Description
Companies focused of developing components for the electric vehicles and working towards improvement of the
technology powering these components. These include companies working on developing efficient electric and hybrid
drive systems, batteries, motors and power electronics for electric vehicles.
Electric Drive Systems Batteries Motors Power Electronics
Companies focused of
developing battery and battery
management systems for
electric vehicles
Companies developing motors
for electric and hybrid vehicles
Companies developing power
electronics and motor
controllers for electric and
hybrid vehicles
Companies working on the
development of electric and
hybrid drive systems for
vehicles

Components – Entrepreneur Activity and
Investment Trend
$311M
$427M
$182M
$267M $240M
$39M
$399M
$108M
$644M
9 13
25
22
26
16
25
24
22
0
6
12
18
24
30
0
140
280
420
560
700
2008 2009 2010 2011 2012 2013 2014 2015 2016
#ofRounds
FundingAmountin($M)
23
21
24
19
23
9
7
12
6
0
6
12
18
24
30
2008 2009 2010 2011 2012 2013 2014 2015 2016
#ofCompaniesFounded
84
23 20 17 15
9 9 8
0
18
36
54
72
90
United
States
China United
Kingdom
Germany Canada France Netherlands Israel
#ofCompanies
$1.8B
$535M
$77M
55
123
16
2
0
28
56
84
112
140
0
400
800
1200
1600
2000
Batteries Electric Drive
Systems
Motors Power Electronics
#ofRounds
FundingAmountin($M)
BM wise Investment
38

Components – Most Funded Companies
Company Overview Business Model
Funding
Amount
byd.com
BYD
(1995, Shenzhen)
Vertically integrated solution provider for green energy technologies
Samsung, MidAmerican Energy
Components > Batteries $680M
boston-power.com
Boston Power
(2005, Westborough)
Lithium-ion battery provider
Venrock, GGV Capital, Gabriel Venture Partners, GSR Ventures, Foundations Asset
Management, Swedish Energy Agency, FAM, Oak Investment Partners
a123systems.com
A123 Systems
(2001, Westborough)
Lithum based battery based on nanophosphate electrode technology
Procter & Gamble, Qualcomm, Sequoia Capital, Qualcomm Ventures, GE, Motorola
Solutions, North Bridge, Department of Energy (US), FA Technology Ventures, ES Ventures,
Novus Energy Partners, Alliance Capital Ventures, Arsenal Venture Partners, Madison
Parker Capital
proteanelectric.com
Protean Electric
(2009, Troy)
Electric drive system developer
GSR Ventures, Oak Investment Partners, Zhejiang VIE Science & Technology, Tianjin THSG
Corporation
Components > Electric
Drive Systems
$154M
brammo.com
Brammo
(2002, Ashland)
Electric Vehicle components manufacturer
Draper Associates, Northport Investments, Chrysalix EVC, Alpine Energy, Aviva Investors,
EarlyShares, Honey R Capital, Polaris Industries, Terracap Ventures, Draper Associates
Drive Systems
$82M
store-dot.com
StoreDot
(2012, Herzliya)
Fast charging bio-organic batteries
Rhodium, Nation-E, Samsung Venture Investment, Singulariteam
viamotors.com
VIA Motors
(2010, Orem)
Electric drive system for commercial vehicles Components > Electric
Drive Systems
$53M
phinergy.com
Phinergy
(2008, Lod)
Metal-air battery technology for EVs
Alcoa

Charging Solutions – Business Model Description
Companies working towards developing charging infrastructure to support electric vehicles and assist is mass adoption of
the these vehicles. These companies focus on setting up the charging network and develop plug-in and wireless charging
systems for residential, commercial and public applications.
Plug-in Charging Charging Network Charging Point Locator Wireless Charging
network of charging stations
for electric vehicles
Companies providing web and
app-based solutions to locate
charging stations
Companies which provide
wireless charging solutions for
electric vehicles
Companies which provide
plug-in charging equipment
such as charging points

Charging Solutions – Entrepreneur Activity and
Investment Trend
$31M
$124M
$421M
$232M
$162M
$46M
$71M $70M
$136M
5
5
14
16
11
26 26
30
22
0
7
14
21
28
35
0
90
180
270
360
450
2008 2009 2010 2011 2012 2013 2014 2015 2016
#ofRounds
FundingAmountin($M)
19
32
39
34
37
31
40
30
22
0
9
18
27
36
45
2008 2009 2010 2011 2012 2013 2014 2015 2016
#ofCompaniesFounded
111
26 25 22
14 13 11 10
0
24
48
72
96
120
United
States
Netherlands Germany United
Kingdom
France Canada Spain China
#ofCompanies
$852M
$448M
$36M $4M
57
77
24
6
0
18
36
54
72
90
0
180
360
540
720
900
Charging Network Plug-in Charging Wireless Charging Charging Point
Locator
#ofRounds
FundingAmountin($M)
BM wise Investment
41

Charging Solutions – Most Funded Companies
Funding
Amount
betterplace.com
Better Place
(2007, Rosh Haayin)
Battery Switching services for electric vehicles
HSBC Group, Morgan Stanley, UBS, GE, VantagePoint Capital Partners, Musea Ventures,
Lend Lease Ventures, Ofer-Hi Tech, Israel Corp, ActewAGL, Maniv Mobility, European
Investment Bank, Lazard Asset Management
Charging Solutions >
Charging Network
$737M
chargepoint.com
ChargePoint
(2007, Campbell)
EV charging points and charging network operator
Siemens, KPCB, Rho Capital Partners, Harbor Pacific Capital, Rho Ventures, Voyager
Capital, Braemar Energy Ventures, Daimler, Estag Capital, The Hartford, Constellation,
LSIS, Statoil, Toyota Tsusho, Siemens Financial Services, Constellation Technology Ventures,
Envision Ventures, Linse Capital, F+ Ventures, BMW i Ventures
Plug-in Charging
$255M
ecotality.com
ECOtality
(2006, San Francisco)
Electric transportation and storage technologies company
ABB Group, Department of Energy (US), Edelson Technology Partners
Plug-in Charging
$30.50M
semaconnect.com
SemaConnect
(2008, Bowie)
Electric Vehicle Solutions for Commercial Properties
TEDCO, PEAR TREE PARTNERSHIP LTD
Plug-in Charging
$27M
voltacharging.com
Volta Charging
Electric vehicle charging network developer
500 Startups, Riverwood Capital, EPIC Venture Fund, Blue Startups, SQN Capital, Ulupono
Initiative, Three Bridges Venture Partners
Charging Network
$23.77M

Charging Solutions – Most Funded Companies
Funding
Amount
carcharging.com
Car Charging Group
(2009, Jackson)
Electric vehicle charging sevices
NYSERDA, Pennsylvania Energy Development Authority
Charging Network
$21M
chargerlink.com
ChargerLink
(2014, Shenzhen)
Developer of Electric Vehicle (EV) charging solutions and community for EV owners to
discover charging stations
Plug-in Charging
$20M
btcpower.com
BTCPower
(1999, Santa Ana)
AC and DC charging stations for electric vehicles Charging Solutions >
Plug-in Charging
$20M

Vehicle-as-a-service – Business Model Description
Companies providing electric vehicle sharing solutions resulting in increased adoption of electric vehicles. Vehicle-as-a-
service also includes companies which provide electric and hybrid vehicles for short term rental.
Cars Scooters Bicycles Multi-category Vehicles
Companies providing electric
scooter sharing services.
Companies offering electric
bike sharing services.
Companies providing different
types of electric vehicles for
rental or on sharing basis.
Companies offering electric
cars on sharing basis, rental
basis or providing on-demand
taxi services using electric
cars.

Vehicle-as-a-service – Entrepreneur Activity and
Investment Trend
$1M
$4M
$0.5M
$4M
$11M
$20M
1
2
6
2 2
6
8
0
2
4
5
7
9
0
5
10
15
20
25
2009 2011 2012 2013 2014 2015 2016
#ofRounds
FundingAmountin($M)
2 2 2
7
2
8
20
18
9
0
5
10
15
20
25
2008 2009 2010 2011 2012 2013 2014 2015 2016
#ofCompaniesFounded
16
8 8
5
4 4
3 3
0
4
7
11
14
18
United
States
France United
Kingdom
Germany Netherlands Spain Australia Canada
#ofCompanies
$21M $21M
$4M
$0.2M
5
19
2
1
0
4
8
12
16
20
0
5
10
15
20
25
Scooters Cars Commercial
Vehicles
Bicycles
#ofRounds
FundingAmountin($M)
BM wise Investment
45

Vehicle-as-a-service – Most Funded Companies
Funding
Amount
cityscoot.eu
Cityscoot
(2013, Paris)
Network of electric scooters for rent
LeasePlan, Avolta Partners
Vehicle-as-a-service >
Scooters
$16.6M
iponycar.com
Ponycar
(2017, Shenzhen)
Self drive electric vehicle rental service Vehicle-as-a-service >
Cars
$7.3M
myevercar.com
Evercar
(2013, Los Angeles)
Electric car sharing service for on-demand drivers Vehicle-as-a-service >
Cars
$5M
scoot.co
Scoot Networks
Electric Scooter rentals
Western Technology Investment, Scout Ventures, Greenstart, Toniic, Vision Ridge Partners,
Krillion Ventures, Mahindra Partners
Scooters
$4.3M
voltia.com
Voltia
(2011, Bratislava)
Electric vehicle-as-a-service for logistics companies
Janom, Neulogy Ventures
Commercial Vehicles
$3.7M
moveabout.net
Move About
(2007, Oslo)
Electric car sharing service
Ecomobility Ventures
Cars
$2.6M
zencar.eu
Zen Car
(2010, Brussels)
Electric vehicle car sharing service Vehicle-as-a-service >
Cars
$2M
waivecar.com
WaiveCar
(2014, Santa Monica)
Electric vehicle car sharing service free for first two hours Vehicle-as-a-service >
Cars
$1.5M

Conversion Kits – Business Model Description
Companies developing systems to convert traditional vehicles to hybrid vehicles.
Bicycles Cars Commercial Vehicles
solutions to convert gasoline-
powered cars into electric or
hybrid mode.
Companies developing electric
conversion kits for commercial
vehicles.
conversion kits to convert
pedal bicycles into electric
versions.

Conversion Kits – Entrepreneur Activity and
Investment Trend
$2M
$5M
$1M
$5K
2
3
6
2
0
1
3
4
6
7
0
1
2
3
4
5
2013 2014 2015 2016
#ofRounds
FundingAmountin($M)
2
3
5
4 4 4
10
3
0
2
5
7
10
12
2008 2009 2011 2012 2013 2014 2015 2016
#ofCompaniesFounded
15
6
3 3
2
1 1 1
0
3
6
10
13
16
United
States
France Germany India Austria Canada China Italy
#ofCompanies
$7M
$0.4M
6
3
0
1
3
4
6
7
0
2
3
5
6
8
Bicycles Commercial Vehicles
#ofRounds
FundingAmountin($M)
BM wise Investment
48

Conversion Kits – Most Funded Companies
Funding
Amount
superpedestrian.com
Superpedestrian
(2012, Cambridge)
Smart Wheel for bicycles
Spark Capital, General Catalyst Partners, Breyer Capital
Conversion Kits >
Bicycles
$6.1M
rool-in.com
Rool'in
(2011, Montrouge)
Smart wheel to convert bicycles to electric versions
Investessor
Conversion Kits >
Bicycles
$680.7K
mellowboards.com
Mellow Boards
(2015, Hamburg)
Electric stakeboard conversion kit
Conversion Kits > Others $350K
adomanielectric.com
Adomani
(2011, Orange County)
Conversion solution for school buses and commercial vehicles Conversion Kits >
Commercial Vehicles
$300K
rubbee.co.uk
Rubbee
(2011, Kaunas)
Add-on electric bike conversion solution
Founder
Conversion Kits >
Bicycles
$100K
hyliion.com
Hyliion
(2015, Pittsburgh)
Regenerative braking based add-on hybrid solution for trucks and trailers
Department of Energy (US), SURGE Ventures
Conversion Kits >
Commercial Vehicles
$80K
pendix.de
Pendix
(2013, Zwickau)
Add-on electric drive system for bicycles
TGFS, CFH
Conversion Kits >
Bicycles
shareroller.com
ShareRoller
(2013, New York City)
Add-on electric drive systems for light vehicles Conversion Kits >
Bicycles

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
50
Contents

Interesting Unfunded Companies
Company Overview
Business
Model
botsac.com
BotSac
(2013, Hanoi)
Electric vehicle charging network for two-wheelers Charging Solutions > Charging Network
ease-link.com
easE-Link
(2015, Graz)
Conductive charging solution for electric vehicles Charging Solutions > Wireless Charging
nrgkick.com
NRGkick
(2014, Lugitsch)
Portable charging station for EV charging Charging Solutions > Plug-in Charging
fiskerinc.com
Fisker
(2016, Los Angeles)
Developer of electric car Automaker > Cars
gazelle-tech.com
Gazelle Tech
(2014, Blanquefort)
Electric car developer Automaker > Cars
varsoviaconcept.com
Varsovia Motor
Company
(2015, Radzymin)
Hi-tech hybrid electric car Automaker > Cars
moveoscooter.com
Moveo Scooter
(2011, Oriszentpeter)
Folding electric scooter Automaker > Two-wheelers > Scooters
nikolamotor.com
Nikola Motor
(2014, Salt Lake City)
Developer of electric trucks Automaker > Commercial Vehicles
Curated list of companies by the sector analyst are defined as Interesting

Company Overview
Business
Model
eforce.ch
E-Force One
(2001, Fehraltorf)
All-electric commercial heavy-duty trucks
Automaker > Commercial Vehicles
ayataiq.com
Ayata IQ
(2012, Melbourne)
Ultracapacitor powered system for hybrid electric vehicles
Components > Electric Drive Systems
tanktwo.com
Tanktwo
(2012, Vantaa)
Battery technology for electric vehicles
Components > Batteries
adgero.eu
Adgero
(2014, Strasbourg)
Kinetic energy recovery system for heavy duty vehicles
Components > Electric Drive Systems
nomagmotors.com
NoMag Motors
(2015, Sacramento)
Motors for electric vehicles
Components > Motors
ebusco.eu
EBUSCO
(2010, Helmond)
Electric transit buses
emco-elektroroller.de
emco electroroller
(2010, Lingen)
Manufacturer of electric scooters
Automaker > Two-wheelers > Scooters
emoss.biz
EMOSS
(2011, Oosterhout)
Electric commercial vehicles and drive systems

Company Overview
Business
Model
cezeta.com
Cezeta
(2013, Prague)
Electric two-wheelers
karmaautomotive.com
Karma Automotive
(2015, Costa Mesa)
Luxury hybrid cars
Automaker > Cars
eclimo.com.my
Eclimo
(2008, George Town)
Electric scooters
nanoflowcell.com
nanoFlowcell
(2013, Vaduz)
Flow cell drive technology based electric vehicles
Automaker > Cars
embarkdrive.com
Embark
Highway autonomous driving system for trucks
reva2.eu
Reva2
(2007, Paris)
Automated transport system using electric vehicles
Vehicle-as-a-service > Others
thrustcycle.com
Thrustcycle Enterprises
(2011, Honolulu)
Self-balancing electric motorcycle
Automaker > Two-wheelers > Motorcycles
getyugo.com
Yugo
(2015, Barcelona)
Electric scooter sharing service
Vehicle-as-a-service > Scooters
scuter.co
Scuter
(2015, Rome)
Electric scooter sharing service
Vehicle-as-a-service > Scooters

Total
Funding
altept.com
ALTe Technologies
(2008, Auburn Hills)
Developer of powertrains for HEV and EV Components > Electric Drive
Systems
$17M
aquariusengines.com
Aquarius Engines
(2014, Rosh Haayin)
Power generators for hybrid vehicles
Components > Motors $8M
vardenlabs.com
Varden Labs
(2015, Waterloo)
Fully autonomous electric vehicle shuttle
Y Combinator, FundersClub, Maven Ventures
Automaker > Commercial Vehicles $4.6M
linkkerbus.com
Linkker
(2014, Lahti)
Electric buses for public transportation systems
Innovestor
Automaker > Commercial Vehicles $3.15M
scutum.es
Scutum
(2011, Barcelona)
Electric scooters for fleet applications
Caixa Capital Risc, CDTI, Repsol
Automaker > Two-wheelers >
Scooters
$2.60M
bzzt.se
Bzzt
(2014, Gothenburg)
Electric auto rickshaw hailing app
Vehicle-as-a-service > Others $217.6K
electrameccanica.com
Electra Meccanica
(2015, Vancouver)
Single passenger three-wheeled electric car
Automaker > Cars $193K
voltamotors.in
Volta Motors
(2015, Chennai)
Developer of electric bicycles
Kalaari Capital
Bicycles
$100K
54
Interesting Seed Companies

Total
Funding
geo-line.com
Geo-Line
(2014, Seoul)
Mobile charging-payment solution for electric vehicles
Orange Fab, KIC Europe
Charging Solutions > Plug-in
Charging
charge.auto
Charge
(2014, Chipping Norton)
Electric drivetrain platfrom for trucks and buses
Kinetik
Components > Electric Drive
Systems
renovomotors.com
Renovo Motors
(2010, Campbell)
Developer of Electric Supercar
True Ventures, Square 1 Bank, Three Bridges Venture Partners
Automaker > Cars
55
Interesting Seed Companies

Total
Funding
lesee.leeco.com
LeSEE
(2015, Beijing)
Lenovo, Shenzhen Capital Group, Macrolink Group Limited, China Minsheng Trust
wm-motor.com
WM Motor
(2015, Shanghai)
Smart electric car
Automaker > Cars $1B
chehejia.com
Chehejia
(2015, Beijing)
Electric car manufacturer
Leo Group, Source Code Capital, FutureCap
ninebot.com
Ninebot
(2012, Beijing)
Personal transportation robot
Sequoia Capital, Intel Capital, WestSummit Capital, Shunwei, Xiaomi
Automaker > Nontraditional >
Personal Transport Equipment
$80M
phinergy.com
Phinergy
(2008, Lod)
Alcoa
Components > Batteries 450M
niu.com
Niu
(2014, Beijing)
Smart Electric scooters
Sequoia Capital, GGV Capital, IDG Capital Partners, GSR Ventures, FutureCap
Scooters
$50M
xiaopeng.com
Xiaopeng
(2015, Guangzhou)
Electric vehicles manufacturer
Automaker > Cars 442M
chargerlink.com
ChargerLink
(2014, Shenzhen)
Developer of Electric Vehicle (EV) charging solutions and community for EV
owners to discover charging stations
Charging
$20M
56
Interesting Series A Companies

Total
Funding
altamotors.co
Alta Motors
Electric motorcycles
Western Technology Investment, Modara, Third Shore Group, Elon Musk, Marc
Tarpenning, Martin Eberhard
Automaker > Two-wheelers
> Motorcycles
$17.5M
cityscoot.eu
Cityscoot
(2013, Paris)
Network of electric scooters for rent
LeasePlan, Avolta Partners
Scooters
$16.6M
instavolt.co.uk
InstaVolt
(2016, Basingstoke)
Rapid EV charging infrastructure
Zouk Capital
Charging Network
$14.8M
addenergietechnologies.com
AddEnergie
(2009, Quebec City)
Smart charging solutions for electric vehicles
Investissement Quebec, Natural Resources, CDPQ
Charging
$13M
govecsgroup.com
GOVECS Group
(2009, Munich)
Maker of electric scooters
Gimv, BayBG, kwf.de
Automaker > Two-wheelers
> Scooters
$13M
rimac-automobili.com
Rimac Automobili
(2009, Sveta Nedjelja)
Developer of electric vehicles and drivetrain components
China Dynamics
chargemasterplc.com
Chargemaster
(2008, Luton)
Electric vehicle charging infrastructure
Qualcomm Ventures, Beringea, Envestors, envestors.myedash.com, BMW i Ventures
Charging
$12M
terra-motors.com
Terra Motors
(2010, Tokyo)
Manufacturer of 2-wheeled and 3-wheeled electric vehicles
Fenox Venture Capital, SMBC Venture Capital, AIZAWA, Shinsei Bank
Automaker > Multi-category
Vehicles
$10M
57

Total
Funding
cleanwavetech.com
Clean Wave Tech
(2008, Mountain View)
Manufacturer of Electric Drive Systems
GRC SinoGreen Fund
Systems
$10M
fastned.nl
Fastned
(2012, Amsterdam)
Network of electric vehicle charging stations
European Union
Charging Solutions > Charging
Network
$7M
greenlots.com
Greenlots
(2008, Singapore)
Electric vehicle charging solutions
SBI Ven Capital, Asia Cleantech Capital, SBI Holdings, Tembusu Partners
Network > Enablers
$7M
lightninghybrids.com
Lightning Hybrids
(2008, Loveland)
Hydraulic hybrid drive system with regenrative braking for commercial
vehicles
Colorado State University, Castrol InnoVentures, Aravaipa Ventures, Shell
Foundation, Factor[e] Ventures, Bohemian Ventures, 9th Street Capital, National
Fleet Hybrids
Systems
$5.6M
altigreen.in
Altigreen Propulsion
Labs
(2012, Bangalore)
Technology enabled solutions for electric and hybrid powertrains
Jupiter Capital
Systems
$4.3M
elforest.se
Elforest Technologies
(2006, Ornskoldsvik)
Electric drive system for forestry machines
Volvo Group, Fouriertransform
Systems
$2.6M
aurobots.com
Auro Robotics
(2013, Santa Clara)
Hi-tech robotics startup building autonomous driving car
Y Combinator, Rothenberg Ventures, STEP, Motus Ventures
Automaker > Commercial
Vehicles
$2.1M
localmotors.com
Local Motors
(2007, Chandler)
3D Printed open source, electric autonomous vehicles
Scout Ventures, Javest Investment Fund, Airbus ventures, VTF Capital
Automaker > Multi-category
Vehicles
$250K
58

Total
Funding
zhicheauto.com
Singulato Motors
(2014, Beijing)
gogoro.com
Gogoro
(2011, Taipei)
Electric scooter developer and battery swapping infrastructure provider
Panasonic, National Development Fund
Scooters
$180M
proteanelectric.com
Protean Electric
(2009, Troy)
Electric drive system developer
GSR Ventures, Oak Investment Partners, Zhejiang VIE Science & Technology,
Tianjin THSG Corporation
Systems
$154M
zeromotorcycles.com
Zero Motorcycles
(2006, Scotts Valley)
Electric motorcycle technology
Invus, Monterey Bay Air Resources District, California Energy Commission
Motorcycles
$134M
viamotors.com
VIA Motors
(2010, Orem)
Electric drive system for commercial vehicles Components > Electric Drive
Systems
$53M
tsinova.com
TSINOVA
(2014, Beijing)
Intelligent travel equipment and smart bicycle manufacturer
IDG Capital Partners, China Growth Capital, Tsinghua Holdings Capital, Nine co-
venture, Banyan Capital
Bicycles
$44M
atherenergy.com
Ather Energy
(2013, Bangalore)
Smart, electric scooters for India
Hero MotoCorp, Tiger Global Management, Sachin Bansal, Binny Bansal, Raju
Venkataraman,
Scooters
$40M
navya.tech
Navya Technology
(2014, Paris)
Autonomous electric shuttle for mobility
360 Capital Partners, Keolis, Robolution Capital, Valeo, FRCI, CapDecisif,
Gravitation
Vehicles
$38.5M
59
Interesting Series B Companies

Total
Funding
whill.us
Whill
Electric wheelchair for elderly and differently-abled
500 Startups, SunBridge Global Ventures, NTT Docomo Ventures, Innovation
Network Corporation of Japan, YJ Capital, Eight Roads Ventures, Consumer Tech
Assocn, jochu.com, VTF Capital
Automaker > Nontraditional >
Mobility Aids
$30.50M
visedo.com
Visedo
(2009, Lappeenranta)
Electric drivetrains for heavy duty vehicles
Emerald Technology Ventures, VNT Management, European Investment Bank,
Ilmarinen, Finnish Industry Investment, LahiTapiola, Semikron, Sinituote, Green
Campus Innovations, Suffice Group, Axco Motors
Systems
$24.40M
voltacharging.com
Volta Charging
Electric vehicle charging network developer
500 Startups, Riverwood Capital, EPIC Venture Fund, Blue Startups, SQN Capital,
Ulupono Initiative, Three Bridges Venture Partners
Network
$23.77M
glm.jp
GLM
(2010, Kyoto)
Developer of electric car and drivetrain systems
Nippon Venture Capital, Mitsubishi UFJ Capital, Globis Capital Partners, CITIC
Capital, The University of Tokyo Edge Capital, Japan Finance Corporation, Riyadh
Valley, yuasamxb.com, IKEDA CORP
pluglesspower.com
Evatran
(2009, Wytheville)
Wireless Charging for Electric Vehicles
Department of Energy (US), Zhejiang VIE Science & Technology, New Richmond
Ventures, Virginia Tobacco Region Revitalization Commission, NRV
Charging Solutions > Wireless
Charging
$16M
jjecn.com
Jing-Jin Electric
Technologies
(2008, Beijing)
Electric Motors for Hybrid Vehicles
Draper Fisher Jurvetson, DFJ Dragonfund, CITIC Private Equity Funds
Management, Tsing Capital, Vickers Venture Partners
60

Total
Funding
wrightspeed.com
Wrightspeed
(2005, San Jose)
Powertrains for Electric Vehicles
Firsthand Technology Value Fund, California Energy Commission
Systems
$10M
Nohms Technologies
(2010, Rochester)
Battery component manufacturer
NASA, Phoenix Venture Partners, Solvay, USCAR, Empire State Development
Components > Batteries $7.4M
ubitricity.com
ubitricity
(2008, Berlin)
Smart mobile charging infrastructure for electric vehicles
Earlybird, IBB Beteiligungsgesellschaft
Charging
$6.7M
amperevehicles.com
Ampere Vehicles
(2008, Coimbatore)
Manufactures electric two wheelers and other electric vehicles
Axon Partners Group, Forum Synergies, NuVentures, Kris Gopalakrishnan, Ratan
Tata, Vineet Agarwal, Venk Krishnan, Sudip Nandy
Scooters
$5.5M
scoot.co
Scoot Networks
Electric Scooter rentals
Western Technology Investment, Scout Ventures, Greenstart, Toniic, Vision Ridge
Partners, Krillion Ventures, Mahindra Partners
Vehicle-as-a-service > Scooters $4.3M
zehus.it
Zehus
(2013, Milano)
Propulsion systems for electric bicycles
M31, Vittoria, Invitalia Ventures, European Commission
Systems > Bicycles
$3.3M
yunzao.cn
YunMake
(2013, Hangzhou)
Smart bike maker
Qualcomm Ventures, ZhenFund, Shunwei, Foxconn Electronics, RiceBank, Ginkgo
Valley Capital
Bicycles
$1.6M
61

Total
Funding
nio.io
NIO
(2014, Shanghai)
Lenovo, Sequoia Capital, JD.Com, Baidu, IDG Capital Partners, Temasek, TPG, Tencent,
Shunwei, GIC, Hillhouse Capital, Joy Capital, Yiche, Magic Stone Alternative
byd.com
BYD
(1995, Shenzhen)
proterra.com
Proterra
(2004, Greenville)
Electric Bus Manufacturer
KPCB, Silicon Valley Bank, Mitsui & Co. Global Investment, GM Ventures, Obvious
Ventures, HTGC, 88 Green Ventures, Hennessey Capital, Constellation, Third Shore
Group, Vision Ridge Partners, NMT Capital, Tao Capital Partners, Hennessey Capital,
Edison Energy, California Energy Commission, MK Energy and Infrastructure
Vehicles
$344.8M
chargepoint.com
ChargePoint
(2007, Campbell)
EV charging points and charging network operator
Siemens, KPCB, Rho Capital Partners, Harbor Pacific Capital, Rho Ventures, Voyager
Capital, Braemar Energy Ventures, Daimler, Estag Capital, The Hartford, Constellation,
LSIS, Statoil, Toyota Tsusho, Siemens Financial Services, Constellation Technology
Ventures, Envision Ventures, Linse Capital, F+ Ventures, BMW i Ventures
Charging Solutions > Plug-
in Charging
$255M
lucidmotors.com
Lucid Motors
(2007, Menlo Park)
Developer of electric car
JAFCO Asia, Venrock, Mitsui, Tsing Capital, Beijing Automotive Group Co
segway.com
Segway
(1999, Bedford)
Designs and manufactures personal transportation robots
Intel, Credit Suisse First Boston (CSFB), Credit Suisse, KPCB, TriplePoint Capital, DAG
Ventures, Duff Ackerman & Goodrich, Masdar, GIC
Automaker >
Nontraditional > Personal
Transport Equipment
$102M
62
Interesting Late Stage Companies

Total
Funding
StoreDot
(2012, Herzliya)
Smith Electric
(2009, Kansas City)
Commercial electric vehicles manufacturer
Department of Energy (US), Potomac Energy Fund, Sinopoly Battery
Vehicles
$48M
microvast.com
Microvast
(2006, Stafford)
Fast-charging battery systems
IFC, Ashmore
semaconnect.com
SemaConnect
(2008, Bowie)
Electric Vehicle Solutions for Commercial Properties
TEDCO, PEAR TREE PARTNERSHIP LTD
in Charging
$27M
torrot.com
Torrot Electric
(2011, Barcelona)
Electric two-wheelers for on and off-road applications
Black Toro Capital
Automaker > Two-
wheelers > Multi-category
Two-wheelers
$26M
paicehybrid.com
Paice
(1992, Baltimore)
Developer of hybrid powertrain technology Components > Electric
Drive Systems
$18M
thenewmotion.com
The New Motion
(2009, Amsterdam)
Smart charging solutions for electric vehicles
Entrepreneurs Fund, Stichting DOEN, A team from Egis
Charging Network
$18M
delta-q.com
Delta-Q Technologies
(1999, Burnaby)
Battery charging solutions
Tandem Expansion Fund
in Charging
$17M
63

Total
Funding
Efficient Drivetrains
(2006, Palo Alto)
Hybrid drivetrain manufacturer
H&Q Asia Pacific
Drive Systems
$15M
YASA Motors
(2009, Oxford)
Electric motors manufacturer
Park Walk Advisors, Seven Spires
torqeedo.com
Torqeedo
(2005, Starnberg)
Developer of electric motors and batteries for boats
Robert Bosch Venture Capital, WHEB, BayBG, Mountain Partners
Drive Systems > Marine
$14.2M
avidtp.com
AVID Technology
(2009, Cramlington)
Components of electric drive systems and thermal management systems for hybrid
and electric vehicles
Downing, NVM Private Equity, North East Technology Fund
Drive Systems
$4.4M
64

Total
Funding
fiskerautomotive.com
Fisker Automotive
(2008, Irvine)
Electric Car maker
NEA, KPCB, Qatar Investment Authority, Palo Alto Investors, seventysixcapital,
Advanced Equities, Egis Captial Partners, A123 Systems, InvestWithACE, Israel G-tek,
ThomasLloyd
betterplace.com
Better Place
(2007, Rosh Haayin)
Battery Switching services for electric vehicles
HSBC Group, Morgan Stanley, UBS, GE, VantagePoint Capital Partners, Musea Ventures,
Lend Lease Ventures, Ofer-Hi Tech, Israel Corp, ActewAGL, Maniv Mobility, European
Investment Bank, Lazard Asset Management
Charging Network
$737M
codaautomotive.com
Coda Automotive
(2009, Los Angeles)
Aeris Capital, EDBI, Harbinger Venture Management, Angeleno Group, Riverstone
Holdings, Indus Capital, Countyline
thinkev.com
Think Global
(1991, Fornebu)
Electric Car Manufacturer
Draper Fisher Jurvetson, Capricorn, RockPort Capital, Investinor, Ener1 Group
milesev.com
Miles Electric Vehicles
(2004, Santa Monica)
Angeleno Group
Automaker > Multi-
category Vehicles
$97M
designlinecorporation.com
DesignLine
(1985, Charlotte)
Manufactured hybrid and electric buses Automaker > Commercial
Vehicles
$55M
aptera.com
Aptera Motors
(2003, Carlsbad)
Electric and hybrid passenger vehicles
Google, NRG Energy, Idealab
Automaker >
Nontraditional > Others
$34M
ecotality.com
ECOtality
Electric transportation and storage technologies company
ABB Group, Department of Energy (US), Edelson Technology Partners
Plug-in Charging
$30.5M
65
Top Funded Deadpooled Companies

Total
Funding
brightautomotive.com
Bright Automotive
(2008, Anderson)
Developer of plug-in electric vehicles
GM Ventures
ener1.com
Ener1
Develops lithium-ion batteries and fuels cells solutions
ITOCHU Corporation
isecorp.com
ISE Corporation
(1995, San Diego)
Hybrid electric drive systems for heavy-duty commercial electric vehicles
Siemens Venture Capital, RockPort Capital, NGP Energy Technology Partners,
Macquarie Group, DTE Energy Ventures
Systems
$17.50M
ridemission.com
Mission Motors
Components manufacturer for EV
SoftTech VC, Warburg Pincus, Infield Capital
Systems
$14M
enovasystems.com
Enova Systems
(1976, Torrance)
Drivetrain systems for electric and hybrid commercial vehicles
Anthony, Merriman, Hyundai Heavy Industries
Systems
$12M
etecevs.com
eTec
(1996, Phoenix)
Electric Car Charging
State of California
Charging
$8M
zenncars.com
ZENN Motor Company
(2000, Toronto)
Lead-acid battery powered car
myevercar.com
Evercar
(2013, Los Angeles)
Electric car sharing service for on-demand drivers
Vehicle-as-a-service > Cars $5M
Rapid Electric Vehicles
(2008, Vancouver)
Vehicle-to-Grid energy management system
Greenangel Energy
Network > Enablers
$5M
66

Total
Funding
miljobil.no
Miljobil Grenland
(1997, Porsgrunn)
Electric Vehicle and Energy Storage developer
europe.tata.com
Components > Batteries $1.5M
echoautomotive.com
Echo Automotive
(2008, Scottsdale)
Electric motors and batteries for plug-in hybrid vehicles Components > Electric Drive
Systems
$200K
trekmore.com
Trekmore
(2010, Houston)
Electric powertrains Components > Electric Drive
Systems
$50K
elecarcorp.com
Elecar
(2009, Providence)
Charging solutions for Electric Vehicles Charging Solutions > Plug-in
Charging
$10K
justgoelectric.com
JustGO
(2015, Batangas)
Electric conversion solutions for three-wheeled vehicles
IdeaSpace Foundation
Conversion Kits > Others Undisclosed
pacecharging.com
Pace Charging Group
(2012, Glastonbury)
Developer of electric vehicle charging infrastructure Charging Solutions > Charging
Network
Undisclosed
ntsworks.com
NTS Works
(2010, Santa Cruz)
Electric cargo bike manufacturer Automaker > Two-wheelers >
Bicycles
Undisclosed
Green Motion UK
(2010, London)
Electric vehicle charging infrastructure
Catalyst Venture Partners
Network
Undisclosed
Gridtest Systems
(2010, Westlake Village)
Test equipment for EV charging
Tech Coast Angels, Pasadena Angels
Network > Enablers
Undisclosed
67

Total
Funding
Move Mile
(2007, Coimbra)
Electric autonomous shuttles
Critical Ventures, Building Global Innovators
Vehicles
Undisclosed
greenvehicles.com
Green Vehicles
(2007, Salinas)
Three-wheel electric car
California Energy Commission
Automaker > Cars Undisclosed
li-ionmotors.com
Li-ion Motors
(2000, Las Vegas)
Manufacturer of electric vehicles Automaker > Multi-category
Vehicles
Undisclosed
azuredynamics.com
Azure Dynamics
(1999, Oak Park)
Electric and hybrid powertrains for commercial vehicles Components > Electric Drive
Systems
Undisclosed
68

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
69
Contents

Useful Links
Slide Title Content Platform Link
List of All Companies in readable format Companies Link
Large Upcoming Sectors Entrepreneur Activity Link
Niche Upcoming Sectors Entrepreneur Activity Link
Top investments in last one year Investment Trend Link
Top IPOs in last three years Exit Outlook - IPO, Acquisitions Link
Major Acquisitions in last one year Exit Outlook - IPO, Acquisitions Link
Automaker – Most Funded Companies Sub Sector Understand Link
Components– Most Funded companies Sub Sector Understand Link
Charging Solutions – Most Funded Companies Sub Sector Understand Link
Vehicle-as-a-service – Most Funded Companies Sub Sector Understand Link
Conversion Kits– Most Funded companies Sub Sector Understand Link
Top Funded Deadpooled Companies Companies Link
70

Scope of Report
Investment Trend
Who is Investing
Sub Sector Analysis
Useful Links
Company List
Team
72
Contents

Electric Vehicles – List of Companies
Automaker Components
Charging
Solutions
Vehicle-as-a-
service
Conversion
Kits
Vehicle
Management
Retail
Software &
Platform
73
410 FUNDED COMPANIES AND 1301 UNFUNDED COMPANIES
COVERS THE FOLLOWING SECTORS

Automaker (1/121)
Total
Funding
paytm.com
BornElectric
(2017, Lodz)
Stealth mode electric vehicle developer
Fisker Automotive
(2008, Irvine)
Electric Car maker
NEA, KPCB, Qatar Investment Authority, Palo Alto Investors,
seventysixcapital, Advanced Equities, Egis Captial Partners, A123 Systems,
InvestWithACE, Israel G-tek, ThomasLloyd
Cars $1.20B
NIO
(2014, Shanghai)
Lenovo, Sequoia Capital, JD.Com, Baidu, IDG Capital Partners, Temasek,
TPG, Tencent, Shunwei, GIC, Hillhouse Capital, Joy Capital, Yiche, Magic
Stone Alternative
Cars $1.10B
LeSEE
(2015, Beijing)
Lenovo, Shenzhen Capital Group, Macrolink Group Limited, China
Minsheng Trust
Cars $1.08B
WM Motor
(2015, Shanghai)
Smart electric car
Cars $1.00B
Singulato Motors
(2014, Beijing)
Cars $601.56M
Tesla
(2003, Palo Alto)
Electric car developer
Deutsche Bank, Draper Fisher Jurvetson, J.P. Morgan, Technology Partners,
Compass Technology Partners, Silver Lake, VantagePoint Capital Partners,
Capricorn, Department of Energy (US), Westly Group, Aabar Investments,
Panasonic, Daimler, SDL Ventures, Toyota Motor Corporation, Think Big
Partners, Fjord Advisors, Valor Equity Partners, Juvo Capital, Darwin
Ventures, Draper Associates, DBL Partners, California Air Resources Board,
California Energy Commission
Cars $404.00M
Go to BM List >> Components

Automaker (2/121)
Total
Funding
paytm.com
Coda Automotive
(2009, Los Angeles)
Aeris Capital, EDBI, Harbinger Venture Management, Angeleno Group,
Riverstone Holdings, Indus Capital, Countyline
Cars $276.50M
Think Global
(1991, Fornebu)
Electric Car Manufacturer
Draper Fisher Jurvetson, Capricorn, RockPort Capital, Investinor, Ener1
Group
Cars $157.00M
Lucid Motors
(2007, Menlo Park)
Developer of electric car
JAFCO Asia, Venrock, Mitsui, Tsing Capital, Beijing Automotive Group Co
Cars $131.00M
Chehejia
(2015, Beijing)
Leo Group, Source Code Capital, FutureCap
Cars $120.00M
GreenTech Automotive
(2009, Mclean)
Mississippi
Cars $47.00M
Xiaopeng
(2015, Guangzhou)
Cars $42.00M
Bright Automotive
(2008, Anderson)
Developer of plug-in electric vehicles
GM Ventures
Cars $22.20M
GLM
(2010, Kyoto)
Developer of electric car and drivetrain systems
Nippon Venture Capital, Mitsubishi UFJ Capital, Globis Capital Partners,
CITIC Capital, The University of Tokyo Edge Capital, Japan Finance
Corporation, Riyadh Valley, yuasamxb.com, IKEDA CORP
Cars $21.00M

Automaker (3/121)
Total
Funding
paytm.com
IAT Automobiles
Technology Company
(2001, Beijing)
Electric vehicle maker
Sequoia Capital, Mitsui & Co. Global Investment, GSR Ventures, Korea
Investment Partners
Cars $20.00M
Mahindra Reva
(1994, Bangalore)
Manufactures electric cars.
Draper Fisher Jurvetson, Global Environment Fund
Cars $20.00M
Rimac Automobili
(2009, Sveta Nedjelja)
Developer of electric vehicles and drivetrain components
China Dynamics
Cars $12.50M
TwoWheelsCar
(2014, Beijing)
Electric vehicle design and manufacturer
Sequoia Capital, CBC Capital, ZhenFund, GSR Ventures, Hillhouse Capital,
Geek Founders, Cloud Angel Fund
Cars $10.00M
ZENN Motor Company
(2000, Toronto)
Lead-acid battery powered car
Cars $6.50M
Dubuc Motors
(2013, Quebec City)
Electric car maker
StartEngine
Cars $6.18M
Mullen Technologies
(2014, La Habra)
Developer of electric cars and neighborhood vehicles
Cars $3.08M
Wheego
(2009, Atlanta)
Manufacturer of all-electric plug-in vehicles
GSR Ventures, GSR Ventures, Ellis Capital
Cars $3.00M

Automaker (4/121)

Automaker (5/121)

Automaker (6/121)

Automaker (7/121)

Automaker (8/121)

Automaker (9/121)

Automaker (10/121)

Automaker (11/121)

Automaker (12/121)

Automaker (13/121)

Automaker (14/121)

Automaker (15/121)

Automaker (16/121)

Automaker (17/121)

Automaker (18/121)

Automaker (19/121)

Automaker (20/121)

Automaker (21/121)

Automaker (22/121)

Automaker (23/121)

Automaker (24/121)

Automaker (25/121)

Automaker (26/121)

Automaker (27/121)

Automaker (28/121)

Automaker (29/121)

Automaker (30/121)

Automaker (31/121)

Automaker (32/121)

Automaker (33/121)

Automaker (34/121)

Automaker (35/121)

Automaker (36/121)

Automaker (37/121)

Automaker (38/121)

Automaker (39/121)

Automaker (40/121)

Automaker (41/121)

Automaker (42/121)

Automaker (43/121)

Automaker (44/121)

Automaker (45/121)

Automaker (46/121)

Automaker (47/121)

Automaker (48/121)

Automaker (49/121)

Automaker (50/121)

Automaker (51/121)

Automaker (52/121)

Automaker (53/121)

Automaker (54/121)

Automaker (55/121)

Automaker (56/121)

Automaker (57/121)

Automaker (58/121)

Automaker (59/121)

Automaker (60/121)

Automaker (61/121)

Automaker (62/121)

Automaker (63/121)

Automaker (64/121)

Automaker (65/121)

Automaker (66/121)

Automaker (67/121)

Automaker (68/121)

Automaker (69/121)

Automaker (70/121)

Automaker (71/121)

Automaker (72/121)

Automaker (73/121)

Automaker (74/121)

Automaker (75/121)

Automaker (76/121)

Automaker (77/121)

Automaker (78/121)

Automaker (79/121)

Automaker (80/121)

Automaker (81/121)

Automaker (82/121)

Automaker (83/121)

Automaker (84/121)

Automaker (85/121)

Automaker (86/121)

Automaker (87/121)

Automaker (88/121)

Automaker (89/121)

Automaker (90/121)

Automaker (91/121)

Automaker (92/121)

Automaker (93/121)

Automaker (94/121)

Automaker (95/121)

Automaker (96/121)

Automaker (97/121)

Automaker (98/121)

Automaker (99/121)

Automaker (100/121)

Automaker (101/121)

Automaker (102/121)

Automaker (103/121)

Automaker (104/121)

Automaker (105/121)

Automaker (106/121)

Automaker (107/121)

Automaker (108/121)

Automaker (109/121)

Automaker (110/121)

Automaker (111/121)

Automaker (112/121)

Automaker (113/121)

Automaker (114/121)

Automaker (115/121)

Automaker (116/121)

Automaker (117/121)

Automaker (118/121)

Automaker (119/121)

Automaker (120/121)

Automaker (121/121)

Components (1/31)
Total
Funding
paytm.com
BYD
(1995, Shenzhen)
Batteries $680.00M
Boston Power
(2005, Westborough)
Lithium-ion battery provider
Venrock, GGV Capital, Gabriel Venture Partners, GSR Ventures, Foundations
Asset Management, Swedish Energy Agency, FAM, Oak Investment Partners
Batteries $638.00M
A123 Systems
(2001, Westborough)
Lithum based battery based on nanophosphate electrode technology
Procter & Gamble, Qualcomm, Sequoia Capital, Qualcomm Ventures, GE,
Motorola Solutions, North Bridge, Department of Energy (US), FA
Technology Ventures, ES Ventures, Novus Energy Partners, Alliance Capital
Ventures, Arsenal Venture Partners, Madison Parker Capital
Batteries $251.00M
StoreDot
(2012, Herzliya)
Batteries $66.00M
Phinergy
(2008, Lod)
Alcoa
Batteries $50.00M
Microvast
(2006, Stafford)
Fast-charging battery systems
IFC, Ashmore
Batteries $30.00M
Ener1
Develops lithium-ion batteries and fuels cells solutions
ITOCHU Corporation
Batteries $20.00M
Automaker << Go to BM List >> Charging Solutions

Components (2/31)
Total
Funding
paytm.com
ZapGo
(2013, Oxford)
Supercapacitor based charging solutions
Batteries $7.65M
Nohms Technologies
(2010, Rochester)
Battery component manufacturer
NASA, Phoenix Venture Partners, Solvay, USCAR, Empire State
Development
Batteries $7.39M
Hyperdrive Innovation
(2010, Sunderland)
Batteries and battery management systems for electric vehicles
Hamilton Capital, Rivers Capital Partners
Batteries $4.70M
Nawa Technologies
(2013, Gardanne)
Advanced material manfacturing company based on organized nano
structures for multi-domain applications
Demeter Partners, CEA Investissement, KIC InnoEnergy, Paca Investment
Batteries $3.40M
Chakratec
(2013, Rosh Haayin)
Flywheel storage system
Capital Nature, Runner Electric, Israel G-tek
Batteries $2.00M
E4V
(2008, Le Mans)
Manufacturer of lithium iron phosphate batteries
Batteries $2.00M
Miljobil Grenland
(1997, Porsgrunn)
Electric Vehicle and Energy Storage developer
europe.tata.com
Batteries $1.47M
Valence
(1989, Austin)
Develops lithium batteries
Batteries $1.00M

Components (3/31)
Total
Funding
paytm.com
InvenTek
(2001, New Lenox)
Lithium based battery manufacturer
Batteries $950.00K
M2 Power
(2009, Amsterdam)
Lithium based battery manufacturers for electric vehicles
Batteries
Lithium Boost
(2012, San Diego)
Lithium Ion battery packs for low speed EVs
Batteries
NuCellSys
(1997, Kirchheim Unter
Teck)
Developer of fuel cell stacks for automotive applications
Batteries
AFCC Auto
(2008, Burnaby)
Develops PEM fuel cells for automotive application
Sustainable Development Technology Canada
Batteries
Millor Battery
(2015, Barcelona)
Developer of Li-ion battery packs
Batteries
Clean Energy Global
(2016, Brandenburg)
Battery module for electric vehicles and stationary energy storage
applications Batteries
Cheevc
(2010, Aberdour)
Battery management systems to provide immunity against cell failures
Batteries

Components (4/31)

Components (5/31)

Components (6/31)

Components (7/31)

Components (8/31)

Components (9/31)

Components (10/31)

Components (11/31)

Components (12/31)

Components (13/31)

Components (14/31)

Components (15/31)

Tracxn Research - Electric Vehicles Report, April 2017

Tracxn Research - Electric Vehicles Report, April 2017

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Tracxn Research - Electric Vehicles Report, April 2017