Kinetic
Assembly Line
Kinetic Announces $21 Million Series B Funding Round, Led by Menlo Ventures
Kinetic, an automotive infrastructure company that delivers digital maintenance and servicing for EVs and AVs through its network of service centers, announced it has secured $21 million in Series B funding, led by Menlo Ventures. Other participants in the round include returning investors Lux Capital, Construct Capital and Haystack Ventures along with new investors Allstate Strategic Ventures and Liberty Mutual Strategic Ventures. Kinetic will use the new funding to accelerate its business growth and continue to add top technology and engineering talent to its team.
Kinetic currently operates four service hubs across the nation—in Las Vegas and in Orange County, San Bernardino and Lake Elsinore in California—and plans to launch four additional hubs in the coming months to meet the growing demand for repair of the digital systems that power modern vehicles. The company offers scanning, programming and calibration of all modern vehicles equipped with advanced driver assistance systems (ADAS) via its Kinetic Hubs, which are staffed by certified technicians, and through revenue-sharing agreements with traditional collision repair centers, dealerships and rental fleets.