FM Capital

FM Capital is a company that focuses on early and growth-stage investments in disruptive technologies within the auto-mobility sector. Additionally, it specializes in commercial real estate investment, providing services that include debt acquisitions, financing, advisory, and equity investment solutions. By targeting innovative sectors and offering a range of financial services, FM Capital aims to contribute to the transformation of both the automotive industry and the real estate market.

David Breaker

Co-Founder, President and CEO

Chase Fraser

Managing Partner

Zack Freed

Principal

Aaron Kurlansky

Principal and Founder

Mark Norman

Managing Partner

42 past transactions

Indigo Technologies

Series B in 2025
Indigo Technologies, Inc., founded in 2010 and headquartered in Cambridge, Massachusetts, specializes in the manufacturing of in-wheel motors and automotive components. The company is focused on innovating the transportation sector by developing robotic wheel technology aimed at creating specialized vehicles for high-demand applications such as last-mile delivery, ride-hailing, and essential services. Indigo's all-electric light utility fleet vehicles integrate advanced road-sensing smartwheels technology, which is designed to enhance affordability, efficiency, and sustainability for fleet operators. By addressing emerging challenges in transportation, Indigo Technologies is positioned to support vehicle manufacturers in meeting future market demands and improving safety and efficiency standards.

Outrider

Series D in 2024
Outrider, Inc. is a software company that specializes in automating logistics hubs through the use of electric, self-driving trucks. Established in 2017 and based in Golden, Colorado, Outrider provides a software-as-a-service (SaaS) solution designed for customer-owned freight and transportation fleets. The company offers a comprehensive system comprised of web-based management software, autonomous driving controls for electric yard trucks, and necessary site infrastructure. Its technology automates various yard operations, including the movement of trailers and the engagement and disengagement of trailer connections, thereby eliminating hazardous and repetitive manual tasks. By focusing on the development of zero-emission systems, Outrider aims to enhance safety and efficiency for large enterprises reliant on logistics.

AutoComplete

Seed Round in 2024
AutoComplete, Inc. is an insurance-technology company located in San Francisco, California, focused on transforming the car insurance market, which is valued at $311 billion. The company has developed an artificial intelligence platform that aims to simplify the auto insurance process, providing users with a streamlined experience. By leveraging AI technology, AutoComplete enables users to obtain auto protection with minimal effort, enhancing the overall customer experience in automotive insurance.

Orbee

Series A in 2023
Orbee specializes in digital marketing analytics and automation solutions tailored for the automotive industry. Its platform serves both franchise and independent dealers, as well as large dealership groups, enabling them to make informed decisions based on comprehensive analytics of their marketing campaigns, inventory, and customer experiences. The company facilitates the creation of detailed buyer profiles by integrating first-party data from clients' websites and partner networks. Additionally, Orbee automates personalized messaging across various paid and earned channels, enhancing engagement through effective segmentation. To broaden the impact of its technologies, Orbee collaborates with dealer-focused media agencies and service providers. Its core offerings include a proprietary data collection and reporting pipeline, an array of dashboards and APIs, and tools for managing campaigns across multiple channels such as email, search, social media, and video.

pH7

Series A in 2023
pH7 is a cleantech firm that develops and implements methods for the sustainable extraction and refining of strategic metals, which are required for the transition to renewable energy. This pilot project will offer the industry a solution for the sustainable extraction of Platinum Group Metals from secondary and primary resources using green, biodegradable, and recyclable solvents rather than smelting methodologies.

WarrCloud

Series A in 2023
WarrCloud is a technology and service provider focused on optimizing automotive warranty management for dealerships. By transforming the administration of warranty claims, WarrCloud aims to reduce processing costs and enhance service profits for dealerships. The company's platform streamlines warranty handling by converting high fixed expenses into a low-risk variable cost that adjusts according to the dealership's specific needs. WarrCloud collaborates with dealership management system firms, warranty claims handlers, independent processors, and dealer groups to improve efficiency and cost-effectiveness in warranty processing.

Outrider

Series C in 2023
Outrider, Inc. is a software company that specializes in automating logistics hubs through the use of electric, self-driving trucks. Established in 2017 and based in Golden, Colorado, Outrider provides a software-as-a-service (SaaS) solution designed for customer-owned freight and transportation fleets. The company offers a comprehensive system comprised of web-based management software, autonomous driving controls for electric yard trucks, and necessary site infrastructure. Its technology automates various yard operations, including the movement of trailers and the engagement and disengagement of trailer connections, thereby eliminating hazardous and repetitive manual tasks. By focusing on the development of zero-emission systems, Outrider aims to enhance safety and efficiency for large enterprises reliant on logistics.

Privacy4Cars

Venture Round in 2022
Privacy4Cars is a technology company focused on addressing data privacy challenges in the automotive sector. Its platform provides a suite of services that allows users, including individuals, dealers, and financial institutions, to efficiently delete personal information from vehicles, such as phonebooks, call logs, text messages, and navigation history. By enabling traceable removal of this data, Privacy4Cars helps to ensure compliance with privacy regulations and enhances transparency within the connected car environment. The company's solutions not only facilitate the protection of user data but also assist in building compliance records, thereby promoting trust in the automotive ecosystem.

Swift Navigation

Series D in 2022
Swift Navigation, Inc. is a technology company specializing in precise global positioning system (GPS) solutions, founded in 2012 and based in San Francisco, California, with an additional location in Melbourne, Australia. The company develops hardware and software that provide centimeter-level accuracy through real-time kinematics (RTK) technology. Its product lineup includes the Piksi Multi GNSS Module, a versatile RTK receiver, and the Duro Ruggedized Receiver, designed for various industrial applications such as agriculture and robotics. Additionally, Swift Navigation offers the Skylark cloud corrections service and the Starling GNSS positioning engine, which caters to automotive and autonomous vehicle needs. The company's innovative solutions, characterized by their affordability and high accuracy—100 times better than standard GPS—serve multiple industries, including unmanned aerial vehicles, surveying, and space applications. Swift Navigation's commitment to making advanced positioning technology accessible is recognized by notable accolades, including mentions in Inc. and Forbes 30 Under 30 lists.

Invisible AI

Series A in 2022
Invisible AI Inc. is a technology company specializing in artificial intelligence-based camera systems designed for logistics and manufacturing facilities. Founded in 2018 and headquartered in San Francisco, the company offers a no-code, edge-based visual intelligence platform that enhances quality, productivity, and safety in manufacturing environments. Its low-cost, low-bandwidth cameras are strategically deployed at workstations to monitor real-time human motion, enabling clients to optimize workflow and reduce costs associated with manual assembly errors. The accompanying web dashboard provides clients with visibility and built-in intelligence to protect data while facilitating the integration, tracking, and analysis of operational practices. This comprehensive system helps clients ensure that processes are executed accurately and safely, ultimately improving overall efficiency.

Motorq

Series B in 2022
Motorq, LLC is a developer of a cloud-based interoperability software platform that facilitates access to connected vehicle data and analytics for enterprises such as fleets, insurance companies, and government agencies. Founded in 2016 and headquartered in the San Francisco Bay Area, the company aims to enhance operational efficiency and expand service offerings for its clients. Motorq's platform utilizes machine learning to integrate and analyze data from various connected car systems, providing actionable insights that help vehicle manufacturers and fleet management companies optimize customer experiences and improve product offerings. By enabling collaboration between original equipment manufacturers (OEMs) and device makers, Motorq supports enterprises in adapting to the evolving landscape of mobility.

Superpedestrian

Series C in 2022
Superpedestrian, Inc. is a robotics company based in Cambridge, Massachusetts, that specializes in developing lightweight electric vehicles designed for eco-friendly transportation. The company’s flagship product, the Copenhagen Wheel, integrates advanced technology to enhance cycling safety and wellness, while also offering a platform for developers to create various applications. These applications range from navigation assistance to customization of the wheel's behavior. Superpedestrian sells its products through both retail channels and online platforms. Founded in 2012, the company aims to provide a comfortable and secure cycling experience by utilizing vehicle intelligence to monitor and address potential malfunctions proactively.

Superpedestrian

Debt Financing in 2022
Superpedestrian, Inc. is a robotics company based in Cambridge, Massachusetts, that specializes in developing lightweight electric vehicles designed for eco-friendly transportation. The company’s flagship product, the Copenhagen Wheel, integrates advanced technology to enhance cycling safety and wellness, while also offering a platform for developers to create various applications. These applications range from navigation assistance to customization of the wheel's behavior. Superpedestrian sells its products through both retail channels and online platforms. Founded in 2012, the company aims to provide a comfortable and secure cycling experience by utilizing vehicle intelligence to monitor and address potential malfunctions proactively.

Gatik

Series B in 2021
Gatik is a startup focused on developing autonomous technology for light and medium-duty trucks aimed at business-to-business short-haul logistics. Founded in 2017 and headquartered in Mountain View, California, the company specializes in artificial intelligence and automotive solutions tailored for the logistics sector. Gatik's software is designed for SAE Level 4 autonomous commercial vehicles, including trucks and vans in Classes 3 to 7. This technology facilitates middle-mile logistics, allowing customers to efficiently manage scheduled deliveries and optimize their supply chain operations.

Privacy4Cars

Series A in 2021
Privacy4Cars is a technology company focused on addressing data privacy challenges in the automotive sector. Its platform provides a suite of services that allows users, including individuals, dealers, and financial institutions, to efficiently delete personal information from vehicles, such as phonebooks, call logs, text messages, and navigation history. By enabling traceable removal of this data, Privacy4Cars helps to ensure compliance with privacy regulations and enhances transparency within the connected car environment. The company's solutions not only facilitate the protection of user data but also assist in building compliance records, thereby promoting trust in the automotive ecosystem.

Car Capital Technologies

Series A in 2021
Car Capital Technologies is a SaaS provider empowering automotive dealerships with advanced technology solutions, including automotive lead generation, digital finance management (F&I), and comprehensive portfolio servicing. Its platforms streamline dealership operations, simplify consumer transactions, and enhance compliance and efficiency through industry-leading innovation. The company was founded in 2020 and is headquartered in Grapevine, Texas.

Ravin AI

Series A in 2021
Ravin AI Limited is a London-based company founded in 2018, specializing in developing artificial intelligence-powered software for vehicle inspection and management. The platform utilizes computer vision and machine learning to autonomously inspect vehicles using standard mobile or stationary cameras, facilitating damage detection and analysis without the need for specialized equipment. Ravin AI's solutions cater to various sectors, including fleet tracking, insurance claim processing, and used car sales, helping fleet owners, insurance processors, and dealerships generate accurate vehicle condition reports and streamline claims. By enhancing trust in car rentals, sharing, and sales, Ravin AI aims to improve operational efficiency and reduce inspection costs for its clients.

Lunewave

Series A in 2020
Lunewave Inc. is a manufacturer based in Tucson, Arizona, specializing in Luneburg lens-based antennas and automotive radar sensor systems. Founded in 2017, the company serves various sectors, including telecommunications, aerospace and defense, automotive, and specialized research. Lunewave develops advanced, three-dimensional printed Luneburg lens antennas and radar systems tailored for applications in autonomous driving, wireless communications, and drone technology. Its products feature custom-made antennas available in various sizes and operating frequencies, designed to meet specific customer needs. The sensors are characterized by their compact, robust design, offering high resolution, all-directional fields of view, and long detection ranges.

Gatik

Series A in 2020
Gatik is a startup focused on developing autonomous technology for light and medium-duty trucks aimed at business-to-business short-haul logistics. Founded in 2017 and headquartered in Mountain View, California, the company specializes in artificial intelligence and automotive solutions tailored for the logistics sector. Gatik's software is designed for SAE Level 4 autonomous commercial vehicles, including trucks and vans in Classes 3 to 7. This technology facilitates middle-mile logistics, allowing customers to efficiently manage scheduled deliveries and optimize their supply chain operations.

Optimus Ride

Series B in 2019
Optimus Ride is a self-driving vehicle company located in Boston, Massachusetts, specializing in the development of technologies aimed at creating efficient, sustainable, and equitable mobility systems. As a spinoff from MIT, the company leverages over 30 years of interdisciplinary research in self-driving technologies, electric vehicles, and mobility-on-demand systems. Its team possesses extensive industrial and entrepreneurial expertise, encompassing areas such as manufacturing robots, urban design, and shared vehicle fleet management. Optimus Ride focuses on implementing self-driving technology in geofenced environments, utilizing advancements in sensor fusion, mapping, computer vision, and machine learning. This enables a wide range of transportation solutions, from commercial vessel operations to various transit options.

What3words

Series C in 2019
What3words is a technology company that has developed a unique geocoding system to improve location accuracy for various applications. The company has divided the world into a grid of 3-meter by 3-meter squares, assigning each square a distinct address composed of three words. This innovative approach allows users to easily identify and communicate precise locations, such as delivery points or recreational areas, without the complexity often associated with traditional addresses. The platform can be accessed through a free mobile app or online map, and it can be integrated into other applications, websites, or platforms with minimal coding. By enhancing location services, What3words supports businesses globally and contributes to social and economic development, particularly in emerging markets.

GuardKnox

Series A in 2019
GuardKnox is an automotive technology company specializing in high-performance, secure, and customizable products for driver-centric mobility. Established in 2016 and headquartered in Israel, with additional locations in Munich, Germany, and Detroit, Michigan, GuardKnox focuses on developing scalable technologies for software-defined vehicles. The company's platform enhances vehicle connectivity and allows consumers to customize both performance and in-vehicle experiences. By offering secure design and high-speed firmware, GuardKnox enables clients to create applications and services efficiently, reducing time to market while maintaining cost-effectiveness.

Ravin AI

Seed Round in 2019
Ravin AI Limited is a London-based company founded in 2018, specializing in developing artificial intelligence-powered software for vehicle inspection and management. The platform utilizes computer vision and machine learning to autonomously inspect vehicles using standard mobile or stationary cameras, facilitating damage detection and analysis without the need for specialized equipment. Ravin AI's solutions cater to various sectors, including fleet tracking, insurance claim processing, and used car sales, helping fleet owners, insurance processors, and dealerships generate accurate vehicle condition reports and streamline claims. By enhancing trust in car rentals, sharing, and sales, Ravin AI aims to improve operational efficiency and reduce inspection costs for its clients.

What3words

Venture Round in 2019
What3words is a technology company that has developed a unique geocoding system to improve location accuracy for various applications. The company has divided the world into a grid of 3-meter by 3-meter squares, assigning each square a distinct address composed of three words. This innovative approach allows users to easily identify and communicate precise locations, such as delivery points or recreational areas, without the complexity often associated with traditional addresses. The platform can be accessed through a free mobile app or online map, and it can be integrated into other applications, websites, or platforms with minimal coding. By enhancing location services, What3words supports businesses globally and contributes to social and economic development, particularly in emerging markets.

Outrider

Series A in 2019
Outrider, Inc. is a software company that specializes in automating logistics hubs through the use of electric, self-driving trucks. Established in 2017 and based in Golden, Colorado, Outrider provides a software-as-a-service (SaaS) solution designed for customer-owned freight and transportation fleets. The company offers a comprehensive system comprised of web-based management software, autonomous driving controls for electric yard trucks, and necessary site infrastructure. Its technology automates various yard operations, including the movement of trailers and the engagement and disengagement of trailer connections, thereby eliminating hazardous and repetitive manual tasks. By focusing on the development of zero-emission systems, Outrider aims to enhance safety and efficiency for large enterprises reliant on logistics.

Vroom

Series G in 2018
Vroom is an innovative, end-to-end e-commerce platform designed to offer a better way to buy and sell used vehicles. The company's scalable, data-driven technology brings all phases of the vehicle buying and selling process to consumers wherever they are and offers an extensive selection of vehicles, transparent pricing, competitive financing, and at home pick-up and delivery. It was founded in 2013 and is located in New York City.

Lunewave

Seed Round in 2018
Lunewave Inc. is a manufacturer based in Tucson, Arizona, specializing in Luneburg lens-based antennas and automotive radar sensor systems. Founded in 2017, the company serves various sectors, including telecommunications, aerospace and defense, automotive, and specialized research. Lunewave develops advanced, three-dimensional printed Luneburg lens antennas and radar systems tailored for applications in autonomous driving, wireless communications, and drone technology. Its products feature custom-made antennas available in various sizes and operating frequencies, designed to meet specific customer needs. The sensors are characterized by their compact, robust design, offering high resolution, all-directional fields of view, and long detection ranges.

Motorq

Seed Round in 2018
Motorq, LLC is a developer of a cloud-based interoperability software platform that facilitates access to connected vehicle data and analytics for enterprises such as fleets, insurance companies, and government agencies. Founded in 2016 and headquartered in the San Francisco Bay Area, the company aims to enhance operational efficiency and expand service offerings for its clients. Motorq's platform utilizes machine learning to integrate and analyze data from various connected car systems, providing actionable insights that help vehicle manufacturers and fleet management companies optimize customer experiences and improve product offerings. By enabling collaboration between original equipment manufacturers (OEMs) and device makers, Motorq supports enterprises in adapting to the evolving landscape of mobility.

Frontier Car Group

Debt Financing in 2018
Frontier Car Group is a Berlin-based startup that operates used automotive marketplaces in emerging market economies, including Nigeria, Mexico, Argentina, Colombia, Chile, Pakistan, and Indonesia. The company aims to enhance the efficiency of buying and selling used cars through a digital marketplace that offers users an instant price quote for their vehicles and facilitates quick inspections to complete sales. By leveraging technology, creating infrastructure, and implementing innovative business models, Frontier Car Group ensures that all stakeholders benefit from the automotive trading process. Additionally, the company is involved in joint ventures with OLX in India and Poland, further expanding its reach and impact in the used car market.

Frontier Car Group

Series B in 2018
Frontier Car Group is a Berlin-based startup that operates used automotive marketplaces in emerging market economies, including Nigeria, Mexico, Argentina, Colombia, Chile, Pakistan, and Indonesia. The company aims to enhance the efficiency of buying and selling used cars through a digital marketplace that offers users an instant price quote for their vehicles and facilitates quick inspections to complete sales. By leveraging technology, creating infrastructure, and implementing innovative business models, Frontier Car Group ensures that all stakeholders benefit from the automotive trading process. Additionally, the company is involved in joint ventures with OLX in India and Poland, further expanding its reach and impact in the used car market.

Optimus Ride

Series A in 2017
Optimus Ride is a self-driving vehicle company located in Boston, Massachusetts, specializing in the development of technologies aimed at creating efficient, sustainable, and equitable mobility systems. As a spinoff from MIT, the company leverages over 30 years of interdisciplinary research in self-driving technologies, electric vehicles, and mobility-on-demand systems. Its team possesses extensive industrial and entrepreneurial expertise, encompassing areas such as manufacturing robots, urban design, and shared vehicle fleet management. Optimus Ride focuses on implementing self-driving technology in geofenced environments, utilizing advancements in sensor fusion, mapping, computer vision, and machine learning. This enables a wide range of transportation solutions, from commercial vessel operations to various transit options.

Autotalks

Series D in 2017
Autotalks, Ltd. is a fabless semiconductor company specializing in vehicle-to-everything (V2X) communication technologies for both manned and autonomous vehicles. Founded in 2008 and headquartered in Kfar Netter, Israel, the company develops automotive-grade chipsets, including the CRATON vehicular communication processor and the PLUTON V2X RF transceiver. Autotalks also offers the PANGAEA4 V2X communication module, which enhances vehicle safety and mobility through secure data exchange. The company works closely with original equipment manufacturers (OEMs) and Tier 1 and Tier 2 suppliers globally, enabling vehicles to communicate with one another and with roadside infrastructure. Autotalks is notable for providing a comprehensive V2X solution compatible with various technologies while meeting rigorous automotive safety and security standards. With a presence in multiple countries, including North America, Germany, France, Japan, Korea, and China, Autotalks is poised to play a significant role in advancing connectivity and autonomous driving initiatives worldwide.

AUTOPAY

Series A in 2017
AUTOPAY is a lender marketplace focused on auto refinancing and new vehicle financing. Founded in 2007 and headquartered in Denver, Colorado, the company collaborates with various credit unions, banks, and lending institutions nationwide to provide customers with competitive rates and terms. Its platform streamlines the auto refinance process by connecting consumer applications with lender guidelines, facilitating the identification of offers, lender decisions, and electronic contracts. This enables customers to finance or refinance their vehicles efficiently and affordably.

Phunware

Series F in 2015
Phunware, Inc. is a software company based in Austin, Texas, specializing in a multiscreen-as-a-service (MaaS) enterprise cloud platform for mobile devices. Founded in 2009, Phunware enables brands to engage, manage, and monetize their mobile application portfolios through its comprehensive suite of software solutions. These include content management, location-based services, marketing automation, analytics, and audience engagement tools. The company offers its products as software-as-a-service and provides application transaction media services that support user acquisition and monetization strategies. Additionally, Phunware delivers data services for targeted marketing campaigns utilizing various technologies such as GPS and Wi-Fi. The company has also partnered with GAIN Innovation to pursue government contracts in Texas. Its primary revenue is generated within the United States, reflecting its focus on the domestic market.

Phunware

Series E in 2014
Phunware, Inc. is a software company based in Austin, Texas, specializing in a multiscreen-as-a-service (MaaS) enterprise cloud platform for mobile devices. Founded in 2009, Phunware enables brands to engage, manage, and monetize their mobile application portfolios through its comprehensive suite of software solutions. These include content management, location-based services, marketing automation, analytics, and audience engagement tools. The company offers its products as software-as-a-service and provides application transaction media services that support user acquisition and monetization strategies. Additionally, Phunware delivers data services for targeted marketing campaigns utilizing various technologies such as GPS and Wi-Fi. The company has also partnered with GAIN Innovation to pursue government contracts in Texas. Its primary revenue is generated within the United States, reflecting its focus on the domestic market.

uParts

Series A in 2013
uParts is a revolutionary platform that helps repair professionals, insurance carriers and part suppliers conduct transactions over the Internet. Their applications integrate to the legacy software applications of the industry to facilitate procurement of OEM, aftermarket and LKQ auto parts.

Phunware

Series D in 2013
Phunware, Inc. is a software company based in Austin, Texas, specializing in a multiscreen-as-a-service (MaaS) enterprise cloud platform for mobile devices. Founded in 2009, Phunware enables brands to engage, manage, and monetize their mobile application portfolios through its comprehensive suite of software solutions. These include content management, location-based services, marketing automation, analytics, and audience engagement tools. The company offers its products as software-as-a-service and provides application transaction media services that support user acquisition and monetization strategies. Additionally, Phunware delivers data services for targeted marketing campaigns utilizing various technologies such as GPS and Wi-Fi. The company has also partnered with GAIN Innovation to pursue government contracts in Texas. Its primary revenue is generated within the United States, reflecting its focus on the domestic market.

TRED

Angel Round in 2013
TRED operates a car trade platform focused on facilitating the buying and selling of pre-owned vehicles. By merging the reliability of dealership transactions with the advantages of private market sales, TRED offers a safe and efficient experience for both buyers and sellers. The platform enables users to control listing prices and monitor interest through page views. Additionally, it provides advanced technology and financing options, allowing buyers to test drive and purchase cars conveniently from their own driveways. With a large network of trusted participants, TRED aims to simplify the car trading process while ensuring transparency and security.
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