Dear Friend,

The micromobility revolution accelerated as a16z-backed Infinite Machine unveiled its $3,495 Olto electric scooter, featuring 40-mile range and swappable batteries, while logistics pioneer Warp secured $10 million to deploy AI-powered freight networks with fully robotic cross-docks. This momentum builds on Uber and Wayve's landmark partnership to test Level 4 autonomous vehicles in London, positioning the UK as a testing ground for sight-unseen AI navigation ahead of the government's spring 2026 commercial pilot framework. Meanwhile, global EV sales surged 24% in May, driven by China's market leadership, which offset slower North American adoption, signaling a geographic shift in electrification momentum.

Enhanced geothermal emerged as the dark horse of clean energy, with Fervo Energy closing $206 million to fund Cape Station—set to become the world's largest enhanced geothermal development in Utah—while Meta partnered with XGS Energy on a 150 MW geothermal plant in New Mexico to power data center operations. European energy storage gained traction as German startup Co-Power raised €6.4 million to deploy industrial battery systems promising 50% cost reductions with zero upfront investment, complementing Mitra Chem's $50 million fundraise for domestic battery materials and Proxima Fusion's €130 million breakthrough in nuclear fusion development. These investments underscore the race to secure baseload renewable power as AI workloads strain grid infrastructure.

Physical AI reached new heights as Gecko Robotics achieved a $1.25 billion valuation through its $125 million Series D, leveraging military contracts to inspect critical infrastructure, while delivery robot operator Coco Robotics raised $80 million with backing from OpenAI's Sam Altman to expand its 1,300-robot fleet across four cities. The sector's maturation accelerated with Wandercraft's $75 million raise for AI-powered humanoid robotics and exoskeletons, supported by automotive giant Renault Group, and Sunrise Robotics emerging from stealth with $8.5 million to democratize industrial robot deployment through modular AI systems. These developments signal robotics transcending niche applications to become essential infrastructure for logistics, manufacturing, and urban services.

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Mobility

1. A16z-backed Infinite Machine Shows off Cheaper, Modular Electric Scooter
New York-based micromobility startup Infinite Machine, backed by a16z, revealed a seated scooter called Olto that will cost $3,495 when it starts shipping later this year, featuring 40 miles of range from an easily swappable 48V lithium-ion battery
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2. Wayve and Uber Partner to Launch L4 Autonomy Trials in the UK
Uber and Wayve Technologies agreed to test self-driving vehicles in London, with Wayve on a mission to prove its AI technology can operate anywhere, sight unseen . The partnership announcement came as the U.K. government recently announced an accelerated framework for self-driving commercial pilots to roll out in spring 2026.
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3. Global EV Sales Rise in May as China Hits 2025 Peak
Global sales of electric and plug-in hybrid vehicles increased 24% in May compared to the same period last year, with strong performance in China offsetting slower growth in North America, according to market research firm Rho Motion
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4. Warp Raises $10 Million to Scale AI-Powered Freight Network with Robotics and Automation with Minimal Hires
Logistics startup rapidly deploying AI across every part of the business, delivering massive performance gains while building a fully robotic cross-dock and eliminating mode-based shipping constraints
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Energy Transition

1. Fervo Energy Secures $206 Million for Cape Station Development
Enhanced geothermal leader Fervo Energy closed $206 million in financing to fully fund Phase I of Cape Station, set to become the world's largest enhanced geothermal systems development in Utah
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2. Meta Partners with XGS Energy on 150 MW Geothermal Plant
Meta announced a partnership with XGS Energy to develop a 150 MW geothermal power plant in New Mexico, adding to the string of deals secured by geothermal startups in 2025. This follows growing corporate demand for clean, baseload power to support data center operations
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3. Co-Power Raises €6.4 Million for Industrial Energy Storage

German startup Co-Power secured €6.4 million in Series A funding led by Cherry Ventures to deploy large-scale battery storage and solar PV systems for European industrial clients. The Munich-based company aims to cut energy costs by up to 50% for industrial customers through on-site installations with no upfront investment required
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4. Mitra Chem is Raising $50 Million for its Cheaper, Domestic Battery Materials

Battery material startup Mitra Chem raised $15.6 million of a planned $50 million funding round, focusing on advancing battery technology for electric vehicles.
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5. German Nuclear Fusion Company Proxima Raises 130 Million Euros of Development Funding
Proxima Fusion, a Munich-based nuclear fusion technology company, said on Wednesday it has raised 130 million euros ($148.8 million) to help it move closer to its goal of developing a novel power plant.
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Physical AI

1. Gecko Robotics Raises $125 Million in Deal Valuing Critical Infrastructure Startup Over $1 Billion
Gecko Robotics, which uses robots and AI to help organizations including the U.S. military inspect and monitor critical infrastructure, has raised a $125 million Series D, bringing its valuation to $1.25 billion.
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2. Easy-to-deploy Industrial Robot Startup Emerges from Stealth with $8.5 Million in Seed Funding
Sunrise Robotics, a startup building modular industrial robotics and AI models that makes them simple to deploy in different environments, has emerged from stealth with $8.5 million in seed funding.
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3. Coco Robotics Raises $80 Million in Funding
Robot delivery startup Coco Robotics raises $80 million in funding led by venture capital firm SNR, with participation from OpenAI CEO Sam Altman and other investors . The Santa Monica-based company operates approximately 1,300 electric delivery robots across Miami, Chicago, Los Angeles, and Helsinki
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4. Wandercraft Raises $75 Million for Acceleration of AI-powered Humanoid Robotics and Exoskeletons
Wandercraft, a maker of self-balancing robotic mobility systems, secured $75 million in Series D funding to accelerate AI-powered robotics, with substantial investments from Renault Group, Bpifrance, European Investment Bank, Teampact Ventures, and Quadrant Management
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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.