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#MinivanLife

#MinivanLife
June 1, 2022

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Folks across the U.S. traveled en masse over the holiday weekend, nearing the highest numbers since the start of the pandemic. They stepped aboard flights with the option to go unmasked for the first time in years, signaling a new era of personal choice in a post-pandemic America. For those planning summer travel and wanting to avoid flight delays and minimize inflation's shock, compounded by already high airline prices, you'll choose car travel.

 

The Lifestyle Vehicle
The minivan, generally considered the mode of transport for shuttling kids between after-school activities, has become the unofficial queen of the road. Remove the stigma of middle-aged dread, and it’s truly an ideal auto: spacious, comfortable, and multifunctional. Prices for minivans are up 43%, and dealers say they can barely park them on their lots before hobbyists and adventurers snatch them up. It might all come down to rebranding the minivan. Canoo, an electric vehicle startup, will release its “lifestyle vehicle” in late 2022 (photo above).

Plugged-In
Electric minivans are en route to becoming the travel icon of the future. Volkswagon’s legendary microbus is getting a refresh, due in 2023. Mercedes Sprinters and Ford Transits, more passenger and cargo vehicles than pure minivans, are coming out as electric versions. Toyota, which makes the U.S.’s most popular minivan, the Sienna, has plans for an electric van that defies classification (part SUV, part cargo, part minivan?).

For those of us looking for a taste of the minivan life, there are Outdoorsy and Turo, a peer-to-peer rental service for camper vans or regular cars (including minivans).

Drive safely!

The Office Comes to You
NYC employers are meeting their NYC employees where they are: Brooklyn. 
[NY Times]
Mass Misinformation
Social media platforms' fringe conspiracy theories quickly made it to the mainstream. 
[The Axios]

 
Since last week, PrivCo has added:
1,911 Companies | 346 Funding Activities | 118 M&A Deals

Funding & Deal Highlights:
 

Joywell raises $25MM from Piva

AgTech • Round B • Davis, CA
 

Bibit raises $80MM from GIC

Fintech • Equity • Jakarta, Indonesia
 

Jadu raises $36MM from Bain 

Blockchain • Round A • Los Angeles, CA
 

Stable raises $60MM from aCrew

Platform • Round B • Chicago, IL
 

SiMa raises $30MM from Fidelity

Computer Vision • Equity • San Jose, CA
 

Commonwealth raises $20MM from Spark

Blockchain • Equity • San Francisco, CA
 

Juno raises $10MM from Insight Partners

SaaS • Round A • Post Falls, ID
 

Planet FWD raises $10MM from Acre

Environmental • Round A • San Francisco, CA
 

Gridwise raises $12.7MM from Crosslink

Ride Sharing • Round A • Pittsburg, PA
 

Pleno raises $15MM from Alexandria 

Biotechnology • Round A • San Diego, CA
 

Sila acquires TriState Home Services

HVAC • Acquisition • Frederick, MD
 

Alro Steel acquires Klein Steel

Metals • Acquisition • Rochester, NY

 

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