Essentia Ventures

I am thrilled to share that Kinetic, our portfolio company, has successfully closed a $?????? ???????????? ?? ?????????????????? ??????????! Only ?? ???????? ?????? ?? ???????????? ?????????? ??????????????????????????. An automotive VC-backed company record! https://lnkd.in/g4SASvmP Congratulations to my friend Nikhil Naikal and his phenomenal co-founder and technical lead Sander Marques. This round was led by Shawn Carolan at Menlo Ventures, with participation from our primary insiders, including Bilal Zuberi (Lux Capital), Rachel Holt (Construct Capital), and Semil Shah (Haystack). Additionally, strategic venture arms from Liberty Mutual Insurance and Allstate joined the round. The automotive industry is undergoing a significant transformation, shifting from mechanical complexity to digital intricacy. Modern vehicles now contain approximately 100 million lines of code, thousands of semiconductor chips, and numerous sensors, making repairs increasingly challenging. Despite these advancements, the automotive aftermarket has seen minimal technological innovation and investment over the years. Kinetic is poised to change that landscape. Lora Kolodny at CNBC wrote an excellent article about Kinetic and our recent fundraising efforts, which you can read here: https://lnkd.in/gcE65HwM Essentia Ventures, Jordan Greene, Steven Hong, PhD, Frank Huber, Jon Lauckner, Mary Chan

Kinetic is a prime example of AI enabling a Silicon Valley startup to entirely revolutionize a tremendously large market with automation, robotics and AI. The US auto service and repair market is $280 billion strong! ++???????????????????? ???????? ?????????????? ??????????++ ?????? ???????? ???????? Kinetic has around 100 customers now, mostly collision centers. It has 3 "?????????????? ????????" doing repairs in Santa Ana and San Bernardino in California, and Las Vegas. ???????? ?????????????? ???????????????? ???? ???????????????????????? ??????????????, "???????? ???? ???? ??????????????????," Naikal said. Kinetic will expand into more warm-weather states next winter, Naikal said, but the entire U.S. is a potential market. ???? ?????????? ?????????? ?????????? ?????????? ???? ?????????? ?????? ?? ??????, ?????? ???????? ?????? ?????????? ???? ???? ???? ?????????????????? ???? ???????????? ?????? ???????????? ???? ?????????????? ???????? ??????????????????????.?"?????? ???????? ???????????? ????????-???????? ???????????????? ???????? ??????????????," he said. ?????????????? ?????????????????????? ?????? ?????????????????? ??????????????, ?????????????????? ?????????????????? ?????? ?? ?????????????????? ???????????????? ???????????? ????????, ?????????????????? ????????. "?????????????????? ???????? ???????? ???? ?????????? ???? ???????? ???? ?????????? ???? ????????????????," he said. ???? ???????????? ???? ???????????????? ???????? ???? ????????????????, ?????? ???????????? ?????? ?????????????????????????? ???????? ???????? ??????????????... "???????? ?????? [???????? ??????????????????????????] ?????? ???? ?????????? ?? [????????????????], ???? ?????????????? ?? ?????????????????? ????????????????,"?he said. "?????? ?????? ???????? ???????????? ?????? ???? ?????? ?????? ?????????? ???? ?????? ?????????????????????? ????????????????????." Congrats also from my side Nikhil Naikal, Sander Marques and a big Thank You to Alysha Webb and Automotive News. Essentia Ventures Jordan Greene Frank Huber Steven Hong, PhD https://lnkd.in/gbwPrQvH