Impel announced on Wednesday that it has made a strategic investment in Automotive Ventures Mobility Fund II, the early stage auto-tech fund managed by Automotive Ventures.

Impel said the investment underscores its role in supporting startup technologies that enhance productivity, improve the customer and employee experience, and accelerate transformation across the automotive retail ecosystem.

With this partnership, Impel added that it brings to the fund its automotive retail expertise, deployment across thousands of dealerships, and enterprise-grade vertical artificial intelligence capabilities. For the fund’s startups and portfolio companies, Impel said this means access to real-world scale, integration opportunities, and a partner committed to advancing transformative, measurable outcomes for the industry.

“Our investment in Automotive Ventures Mobility Fund II reflects our belief that meaningful transformation in automotive retail will be powered by early-stage innovation,” Impel president and chief strategy officer Michael Quigley said in a news release. “We’re committed to supporting the ecosystem that enables dealers, OEMs, and technology partners to thrive together.

“By investing in the next wave of auto tech entrepreneurs, we’re helping to accelerate progress across the entire industry, raising the standard for performance, customer experience, and employee engagement,” Quigley continued. “Partnering with Steve and the Automotive Ventures team gives us a front-row seat to the innovations that will redefine our industry and the opportunity to actively help bring them to life.”

Automotive Ventures is a venture capital firm specializing in early stage investments across the mobility and automotive technology landscape.

Led by general partner Steve Greenfield, who possesses more than 25 years of automotive technology experience and has overseen more than $1 billion in automotive-tech acquisitions, the firm focuses on key themes including connectivity, AI and robotics, the evolution of auto commerce, urban mobility, new energy solutions, and industrial technology.

“We are thrilled to welcome Impel as an investor in Mobility Fund II,” Greenfield said in the news release. “Impel’s leadership in enterprise automotive retail AI and their global scale make them an ideal strategic partner for our mission. Their deep industry expertise and commitment to advancing technology that drives meaningful outcomes for dealers, OEMs, and consumers will help us identify, fund, and accelerate the most promising innovations in the auto-tech space.

“Together, we’re not just investing in startups, we’re shaping the future of how vehicles are sold, serviced, and experienced,” Greenfield went on to say.