Autotech Ventures, a Silicon Valley-based venture capital firm focusing on transportation technology, has landed an investment from Lear Corporation designed to help mobility technology startups.
The investment, announced by Lear on Tuesday, is through the Lear Innovation Ventures.
Autotech primarily specializes in “software, services and electronics startup companies working to enable connected, autonomous, energy-efficient vehicles and services.”
Among other entities, its investment portfolio includes Lyft and used-car marketplace Frontier Group.
In a news release, Lear chief technology officer John Absmeier said: “With Autotech Ventures’ deep industry network and focus on identifying emerging trends in the automotive market, this is an excellent opportunity for LIV.
“As consumer demand increases for intelligent mobility and experience-enabling technologies, we are focused on making every drive better through strategic investment and purpose-driven innovation,” he said.
Terms of the investment were not disclosed in the release.
Quin Garcia, who is managing director for Autotech, spoke at Cherokee Media Group’s Automotive Intelligence Summit in July, sharing a presentation on “Leveraging Startups to Drive Corporate Innovation and Profits.”
That presentation can be found in the podcast below.