Volvo invests in blockchain firm Circulor to help ethically source battery materials

• Per the Financial Times, the investment is in the "high single digit millions."

What's next: "The investment in Circulor by Volvo Cars allows both companies to expand their focus beyond cobalt, for example by looking at increasing traceability of mica, a mineral used as isolation material in the battery pack of electric Volvos," the announcement states.

Where it stands: It's part of a wider funding round for Circulor, which specializes in raw materials tracking.

• Other investors in the new round are SYSTEMIQ, Total Carbon Neutrality Ventures and Plug & Play, Volvo said. Circulor declined to disclose the total size of the funding round

Speaking of auto-related VC, Bloomberg reports: "Karma Automotive, maker of the Revero plug-in hybrid luxury car, has raised $100 million from outside investors as the company and its parent seek to tap into an electric-car stock surge by seeking an additional $300 million."

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