Dear Friend,

April’s third week brings a wave of high-impact moves across energy, mobility, and physical AI. Mobility is marked by bold expansion, with Lyft acquiring FreeNow for $200 million to nearly double its addressable market in Europe.

In energy transition, TPG’s $2.2 billion acquisition of Altus Power and Foresight Group’s $278 million battery storage buyout signal major consolidation, even as solar corporate funding drops 41% year-over-year and startups like Base Power and Caban Energy raise fresh capital to tackle grid instability and electrification costs.

Meanwhile, physical AI accelerates as RLWRLD secures $14.8 million to develop foundational robotics models, global AI venture funding tops $52 billion for the quarter, and ABB unveils plans to spin off its robotics division, highlighting a sector racing to blend automation, intelligence, and scale.

Stay tuned.

Mobility

1. Lyft to Acquire FreeNow for $200 Million, Expanding into European Market
Lyft announced its acquisition of FreeNow, a European mobility platform operating in over 150 cities across nine countries, for approximately $198.4 million. This strategic move aims to counter competition from Uber and nearly double Lyft's addressable market by tapping into Europe's largely offline taxi industry.
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Energy Transition

1. Altus Power Closes $2.2 Billion Acquisition by TPG
TPG, through its Rise Climate Transition Infrastructure strategy, completed an all-cash $2.2 billion acquisition of Altus Power, making the commercial-scale solar provider a privately held company as of April 16, 2025.
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2. Foresight Group to Acquire Harmony Energy Income Trust for $278 Million
Two funds managed by the UK’s Foresight Group LLP agreed to acquire battery storage investment firm Harmony Energy Income Trust for approximately £209.9 million ($277.9 million), expanding Foresight’s battery storage portfolio.
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3. Base Power Raises $200 Million Series B to Scale Distributed Energy Storage
Energy storage startup Base Power secured $200 million in Series B funding to expand its distributed energy storage solutions, aiming to address grid instability and rising energy costs associated with increased electrification.

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4. Caban Energy Secures $50 Million to Expand Energy-as-a-Service Offerings
Caban Energy announced a $50 million funding round to accelerate the deployment of its Energy-as-a-Service contracts, particularly targeting major clients in the telecommunications sector.

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5. Solar Corporate Funding Declines 41% in Q1 2025
Solar companies secured $4.8 billion in corporate funding across 39 deals in Q1 2025, marking a 41% year-over-year decrease from $8.2 billion in 42 deals.
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Physical AI

1. AI Companies Secure at Least $52 Billion in Global VC Funding During Q1 2025
AI companies attracted at least $52 billion in global venture capital in Q1 2025, with notable investments in robotics and automation, including $403 million for Apptronik, a developer of humanoid robotics.
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2. RLWRLD Raises $14.8M to Build a Foundational Model for Robotics
RLWRLD secured $14.8 million in funding to develop a foundational AI model for robotics, with the funds supporting collaborations with strategic investors, infrastructure acquisition, and research into advanced humanoid hand movements.
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3. ABB Plans to Spin Off its Robotics Division as a Separately Listed Company
ABB announced plans to list its robotics division separately, focusing on intelligent automation and AI integration. This strategic move aims to sharpen the company's focus on electrification and automation.
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Information provided by Mavka Capital. Securities are offered through Finalis Securities LLC, a member of FINRA/SIPC. Mavka Capital and Finalis Securities LLC are separate, unaffiliated entities. The information contained in this message does not constitute legal advice and should not be considered an offer to purchase or a solicitation to sell securities or any other financial instruments; it is for informational purposes only.