KKR Leads $230 Million Series C Funding for Ontic

KKR leads a Series C funding round, raising $230 million for Ontic. Ontic is a company focused on providing autonomous and electric vehicle (EV) parts. The funding will help Ontic expand its operations and support the growth of the EV market. KKR is a financial services group with a significant presence in the insurance and asset management industries. The investment is part of KKR's efforts to support innovative companies in the EV and autonomous vehicle space.

KKR & Co. Inc. (NYSE: KKR) has led a Series C funding round, raising $230 million for Ontic, a company specializing in autonomous and electric vehicle (EV) parts. The investment is part of KKR's strategic efforts to support innovative companies in the EV and autonomous vehicle space [1].

The funding round will enable Ontic to expand its operations and support the growth of the EV market. KKR, a financial services group with a significant presence in the insurance and asset management industries, has shown a commitment to investing in emerging technologies that align with its long-term growth strategy [1].

Ontic's focus on EV and autonomous vehicle parts positions it at the forefront of the rapidly evolving automotive industry. The global EV market is experiencing significant growth, driven by increasing demand for sustainable transportation solutions. According to market research, global EV sales grew by over 21% year-on-year in July, crossing 10.7 million units sold globally [2].

Xiaomi, another significant player in the EV market, plans to enter the European market by 2027, aiming to challenge established players like Tesla Inc. and BYD Co. globally. Xiaomi's robust financial performance and ambitious expansion plans position it as a significant player in the global EV market [2].

KKR's investment in Ontic underscores the company's strategic vision to capitalize on the growing EV and autonomous vehicle market. The investment is a testament to KKR's ability to identify and support promising companies in high-growth sectors.

References:
[1] https://finance.yahoo.com/news/greenhaven-road-capital-kkr-kkr-134949938.html
[2] https://www.ainvest.com/news/xiaomi-launch-electric-vehicle-europe-2027-aims-challenge-tesla-byd-globally-2508/