InMotion Ventures, the investment arm of automotive firm Jaguar Land Rover, has hired a new managing director to oversee future investments.
Mike Smid previously served as vice president of finance for Chery Jaguar Land Rover, the firm’s partnership with Chinese carmaker Chery Automobile Co.
Talking to UKTNSmid said: “Because of my background, I have a particular affinity for sustainability, electrification and connectivity, but there is so much innovation coming across all areas of the mobility sector and I look forward to exploring a number of exciting opportunities with the team.”
The new head of InMotion Ventures will oversee the firm’s investments in and collaborations with startups working in the mobility space, such as autonomous cars, shared mobility and electric vehicles.
It comes as part of Jaguar Land Rover’s innovation strategy, which has seen the company launch an innovation center in the UK in partnership with a corporate investment platform and investor. Plug and play.
InMotion Ventures’ previous backings in the UK tech space include blockchain supply chain startups Circularwhich raised £21.5m in a Series B round in June, automotive fintech Karmula, which had a £27m round in April and buy-now cars pay later Bumper.
“InMotion Ventures has an excellent reputation in the market with an enviable portfolio to date, and this is a fantastic opportunity to lead the fund to further success as we move closer to our business transformation plans,” said Smid.
Smid’s appointment follows the hiring of former BP Ventures analyst Sam Nasrolahi, who joined InMotion Ventures in August as a director.
InMotion Ventures hires managing director to invest in future of mobility
