FUELING THE FUTURE: $290 million for cloud-based software | St. Louis geospatial

  • ST. LOUIS—Cultivation Capital has launched a $18.1 million investment fund that will be focused on geospatial technology. The venture capital firm, which backs early stage agtech and life sciences startups, has a portfolio of about 150 companies.
  • DEARBORN, MI—Ford Motor is increasing its investment in electric vehicles (EV) to $30 billion by 2025. The company announced the fresh cashflow into its EV and battery development strategy, dubbed Ford+. It’s worth noting that Ford isn’t the only automaker putting resources into battery development: General Motors Co. is building a second U.S. battery cell factory in Spring Hill, Tennessee.
  • DETROIT, MI—Rockbridge Growth Equity closed a $345 million private equity fund that will focus on digital media, e-commerce, tech-enabled products and financial services.