Dear Friend,

As mid-September 2025 unfolds, mobility advances through electrification breakthroughs and autonomous partnerships, with Arc Boats securing a historic $160 million contract for eight hybrid-electric tugboats representing the largest commercial electric workboat deployment in marine industry history, while Lyft and May Mobility launch their pilot robotaxi service in Atlanta using modified Toyota Sienna minivans, and Italian startup Wayla demonstrates remarkable investor appetite by surpassing €1 million in crowdfunding within 30 hours for its urban van pooling service.

The energy transition accelerates with unprecedented scale and speed – China announces a massive $35 billion plan to nearly double battery storage capacity to 180 GW by 2027, while Tesla unveils its revolutionary Megablock system capable of powering 400,000 homes and deploying in just 20 business days alongside the 5 MWh Megapack 3. Strategic investments dominate as Magnetar Capital commits $200 million to Torus Energy's innovative inertia-based hybrid storage systems, Ukraine's DTEK launches Eastern Europe's largest 200 MW battery facility with a €125 million investment, and a coalition of 14 venture capital firms managing $60 billion in assets establishes a $300 million fund specifically to scale clean tech companies from pilot to commercial operations.

Physical AI experiences explosive funding momentum with over $6 billion invested in the first seven months of 2025 – led by FuriosaAI's preparation of a $300 million pre-IPO round as the Korean AI chip challenger to Nvidia eyes a 2027 public listing, autonomous trucking leader Kodiak Robotics securing $145 million in PIPE investment for its SPAC merger, and Luminary Cloud raising $72 million in Series B funding to advance its "Physics AI" platform that brings artificial intelligence into physical product design, while the broader robotics sector enters what TechCrunch calls a "golden age" driven by matured hardware, lower costs, and AI integration.

Stay sharp,

The State of Tech M&A in 2025

Join Mavka Capital and Bernstein Private Wealth Management for an exclusive CEO-focused summit designed specifically for founders planning their startup exit in the next 24 months. Despite promising signs, today's exit environment still presents significant challenges – from geopolitical uncertainties to evolving valuation metrics and investor selectivity.

October 22nd, 2025 at 4-6 PM

Location: 
Bernstein Private Wealth Management
555 California St
San Francisco, CA 94104

Mobility

1. Arc Boats Secures $160Million Tugboat Contract
Los Angeles-based electric boat company Arc announced a $160 million contract with Curtin Maritime for eight hybrid-electric ship assist tugboats, representing the largest commercial deployment of electric workboats in marine industry history.
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2.  Italian Mobility Startup Wayla Zips Past €1 Million in Funding in Under 30 Hours
Wayla, a Milan-based mobility startup and Italy’s first urban van pooling service, has smashed through its €1 million crowdfunding goal on Mamacrowd in less than 30 hours after going public.
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3. Lyft-May Mobility Robotaxi Launch
Ride-hailing platform Lyft partnered with autonomous vehicle startup May Mobility to launch a pilot robotaxi service in Atlanta. The service uses modified Toyota Sienna minivans and represents the first public deployment of their partnership, with plans to gradually expand the fleet from dozens to potentially thousands of vehicles.
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4. McKinsey Mobility Investment Analysis
Report highlighted that electrified solutions have attracted the most investment at $351 billion since 2010, with autonomous and shared solutions also constituting significant portions of total mobility investment.
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Energy Transition

1.  Serentica Renewables to Acquire Statkraft's Indian Solar Business
Serentica Renewables signed binding agreements to acquire Norway-based Statkraft's Indian solar business, including a 445 MWp operational solar plant at Bikaner and 1 GWp of development assets across Rajasthan, expanding Serentica's portfolio to 1.5 GW.
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2. Velto Renewables Completes Solar Farm Acquisition
Velto Renewables completed acquisition and began operation of La Gineste Solar Farm in Aude, France on September 10, 2025.
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3. Libra Energy Materials to Acquire Brion Minerals
Libra Energy Materials entered into a definitive share exchange agreement on September 8, 2025, to acquire 100% of Brion Minerals, gaining exposure to lithium and energy materials projects in Brazil.
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4. $60 Billion Venture Capital Coalition Launches $300 Million Climate Tech Fund
The "All Aboard Coalition" of 14 venture capital firms managing $60 billion in assets launched a collaborative $300 million fund to help clean tech companies scale from pilot to commercial operations, targeting long-duration energy storage, geothermal, nuclear, and clean hydrogen.
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5. Tesla Unveils Megapack 3 and Megablock
Tesla unveiled its new generation of utility-scale batteries, including the Megapack 3 with 5 MWh capacity and the revolutionary Megablock system that can power 400,000 homes and be deployed in just 20 business days.
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6. Magnetar Invests $200 Million in Torus Energy Storage
Magnetar Capital invested $200 million in Torus Inc., a Utah-based energy storage company developing inertia-based hybrid systems that combine mechanical flywheels with battery technology for utilities and data centers.
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7. Elliott Takes Stake in Japan's Kansai Electric Power
U.S. activist investor Elliott Management acquired a 4-5% stake in Kansai Electric Power, Japan's largest nuclear power operator, becoming one of the top three shareholders and urging the utility to increase dividends and divest non-core assets valued at over $13.5 billion.
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8. Ukraine's DTEK Launches Major Battery Storage Project
Ukrainian energy company DTEK launched the largest battery storage facility in Eastern Europe with 200 MW capacity, investing €125 million ($146 million) in the project completed in partnership with U.S. company Fluence Energy.
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9. China Announces $35 Billion Energy Storage Plan
China unveiled plans to nearly double its energy storage capacity to 180 GW by 2027, driving approximately $35 billion in investment, with CATL shares surging on the announcement and JPMorgan upgrading the battery giant to overweight.
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10. Proxima Fusion Series A Extension
While primarily a fusion energy company, Proxima Fusion raised an additional €15 million Series A extension, bringing total funding to €200 million, from CDP Venture Capital, European Innovation Council Fund, and Brevan Howard Macro Venture Fund – relevant for future mobility applications of clean energy technology.
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Physical AI

1. FuriosaAI Launches $300 Million Funding Round Ahead of IPO Seoul-based AI chip startup FuriosaAI is preparing a $300 million pre-IPO funding round as it seeks to scale production and broaden its base of international investors, aiming for a potential public listing as soon as 2027. The company – positioned as a challenger to Nvidia – has invited global banks to pitch for the Series D round, which will accelerate its efforts to expand both product capabilities and market reach. Read more

2. Kodiak Robotics - $145 Million PIPE Investment
Autonomous trucking company Kodiak Robotics secured a $145 million private investment in public equity (PIPE) commitment from institutional investors to support its SPAC merger with Ares Acquisition Corporation II, with the extraordinary general meeting scheduled for September 23, 2025
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3. Robo.ai Industrial City Joint Venture
Robo.ai Inc. (NASDAQ: AIIO) signed a final joint venture agreement with JW Group and Ferox Investments L.L.C. to establish "Robo.ai Industrial City" in Dubai Industrial City, creating a manufacturing hub for smart vehicles, eVTOL aircraft, and smart logistics hardware
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4. RTS Acquires J1W
Rental Technology & Services (RTS) acquired Aberdeen-based J1W, a specialist in remotely operated vehicle (ROV) robotics and tooling, as part of RTS's ongoing expansion plans to strengthen its subsea equipment and services position.
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5. Serve Robotics Acquires Voysys Assets
Autonomous delivery robotics company Serve Robotics acquired assets of Voysys to strengthen its technology stack and enhance reliability at scale for autonomous delivery operations.
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6. Luminary Cloud Raises $72M Series B for Physics AI
Luminary Cloud secured $72 million in Series B funding to advance its AI-driven physical product design platform, positioning itself to bring artificial intelligence into the physical world through "Physics AI."
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7. AI-Blox Brussels Closes First Funding Round
Brussels-based scaleup AI-Blox secured its first funding round to boost physical AI solutions, though specific funding amounts were not disclosed. The company focuses on developing physical AI applications that bridge artificial intelligence with real-world environments and physical systems.
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8. GAIB Expands into Robotics Tokenization
GAIB, the first economic layer for AI and compute, announced its strategic expansion into robotics sector tokenization. The platform will digitize physical robots and their future cash flows into its synthetic dollar AID, allowing investors to capture yields from robots alongside GPUs through DeFi lending, trading, and structured products.
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9. Robotics Funding Hits $6 Billion in First Seven Months
TechCrunch reported that investors poured $6 billion into robotics startups in the first seven months of 2025, with the sector entering a "golden age" driven by matured hardware, lower costs, and AI integration.
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