Mobility

New Houston-based fund raises $50 million to back mobility startups

A new venture capital fund based in Houston and Monterrey, Mexico, has raised $50 million to back mobility startups.

Photo by Getty Images

A new venture capital fund has mobility on the mind — and it's just raised $50 million to support startups working on solutions in the mobility or mobility-related industries.

Proeza Ventures, which is based in Houston and Monterrey, Mexico, reportedly closed its first fund Proeza Ventures I. The fund is backed by Grupo Proeza, a Mexican portfolio management company with two global platforms operating in the mobility and agroindustry sectors, according to the fund's website.

Metalsa The company owns Metalsa, a structural products supplier and the current market leader in frames for light trucks.Photo courtesy of Metalsa

"Our mission is to discover and invest in visionary founders building early stage startups transforming the way in which we think about mobility and with whom we can partner to make a more sustainable world," says Rodolfo Dieck, managing director at Proeza Ventures, in a news release.

With the fund's money, Proenza Ventures will invest in 12 to 15 early or growth-stage startups with solutions or new technology within industrial, smart components, new vehicles, MaaS, and digital data services.

"We expect to be writing first time checks in the range of $500,000 and up to $2 million reserving enough capital to support companies in their development trajectory," says Dieck in the release.

Grupo Proeza comes with a network of experts. The company owns Metalsa, a structural automotive products supplier and current market leader in frames for light trucks in North America, per the release. The subsidiary has more than 60 years of global manufacturing and operating experience within the industry.

The group will use its platform to benefit startups within its portfolio, which already includes Boston-based Indigo Technologies that's developing an in-wheel e-motor and a California-based micro mobility company that is disrupting the scooter ecosystem.

"We back entrepreneurs with an ambitious vision and the grit and operational skills to execute their business plan and transform the sectors they participate in," says Enrique Marcelo Zambrano, principal at P.V., in the release. "We expect to help them leverage our deep expertise in mobility, our unique platform and network."

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This story originally appeared on AutomotiveMap's sister site, InnovationMap.

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Nuts & Bolts

 
 

The Ford F-150 is one of the most sought-after used vehicles in Houston.

Photo courtesy of Ford Motor Company

Used car seller Carvana has released its list of the used vehicles that are most sought after by Houston, Texas area shoppers. The list is mostly made up of the usual suspects - perennial best-sellers in their class. Here are the top five.

No. 5 - Nissan Altima

2019 Nissan Altima

Photo courtesy of Nissan North America

The Nissan Altima was recently redesigned but even if you go for an older model, you’ll still be getting a comfortable and fuel-efficient midsize car.

No. 4 - Toyota Corolla

Toyota Corolla

Photo courtesy of Toyota Motor Sales U.S.A. Inc.

The Toyota Corolla is one of the best-selling cars in the world. It’s perennially reliable, fuel efficient, and some with a good suite of standard safety technology.

No. 3 - Honda Accord

2015 Honda Accord Hybrid Photo courtesy of American Honda Motor Co., Inc

The Honda Accord is a comfortable, fuel-efficient, reliable model. Buyers like its passenger and cargo space, along with its easy driveability.

No. 2 - Toyota Camry

2020 Toyota Camry Hybrid LE Photo courtesy of Toyota Motor Sales U.S.A. Inc.

The Toyota Camry has many of the same desirable characteristics as the Toyota Corolla. It’s reliable and comes standard with a long list of safety features. It’s spacious, comfortable, and easy to drive.

No. 1 - Ford F-150

2014 Ford F-150 Photo courtesy of Ford Motor Company

Whether you’re buying a new Ford F-150 or one that’s a few years old, you’re getting a strong and capable truck that is equally as comfortable on-road as it is off, worksite included.

Carvana has vending machine locations in Houston, Austin, San Antonio, and Dallas. The company can also deliver vehicles to customers. What's popular in those towns? They have broken the list down by city. You can find Austin's most popular here, San Antonio's info here, and Dallas picks here.

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Ford is launching a new aspect of its rewards program.

Photo courtesy of Ford Motor Company

Ford Motor Company, in partnership with First National Bank of Omaha and Visa, is launching the FordPass Rewards Visa Card as part of a customer loyalty program expansion. FordPass first launched in 2019.

The credit card similar to credit card programs offered by General Motors and but Ford says that theirs offers a higher level of rewards than the other programs.

"Building trust and delivering the best ownership experience possible for our customers is our top priority at Ford," said David Loflin, manager, Customer Experience. "Not only does this card match the features of other major players in the credit card space, it offers customers a means to reduce the cost of ownership by redeeming Points to purchase, lease or service their vehicle."

FordPass Rewards Visa Card The card is available in two colors right off the bat.Photo courtesy of Ford Motor Company

In exchange for using their FordPass Rewards Visa Card to pay for purchases, customers can earn 10 percent Back in Points on Ford service. That 10 percent is an accumulation of five percent Back in Points in Ford dealership purchases and an equal percentage Back in Points with FordPass Rewards.

Customers also earn five percent Back in Points on Ford dealership purchases; three percent Back in Points in gas, auto insurance, tolls, parking, and dining expenses; and one percent Back in Points on all other purchases.

The credit card is the only co-branded card with an annual statement credit. Users get $200 each year when they spend $6,000 in 12 consecutive billing cycles after opening the account. Customers get a $100 statement credit when they spend $3,000 within the first three billing cycles after opening an account.

There is also low-interest financing for six billing cycles on Ford dealership purchases over $499.

Additionally, the card gets users access to more traditional FordPass Rewards opportunities. For example, in June FordPass Rewards gave its members access to one month of complimentary Postmates delivery service and deployed a complimentary The Works oil change and tire rotation to members deemed essential workers.

Currently, the FordPass Rewards program has enrolled more than 4.5 million members

Cardholders will be able to customize their FordPass Rewards Visa Card by checking the options box. The card is first available in a Model-A Black or Blue Oval Blue color scheme. Beginning with the Bronco brand and the all-new F-150, future iterations of the card will allow model-specific customization.

To learn more about the FordPass Rewards Visa Card and to apply, visit FordPassRewards.com/Visa.

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