Union Square Advisors Serves as Exclusive Financial Advisor to Nikola Labs in its Financing Led by G2 Venture Partners

in its $29MM financing from

Demonstrates the strength of Union Square Advisors’ platform in providing comprehensive advisory and financing services to high-growth Industrial AIoT companies

On May 23, 2022, Union Square Advisors announced it served as the exclusive financial advisor to Nikola Labs in its $29 million in financing. Led by G2 Venture Partners and joined by Triangle Peak Partners, the Series A Preferred financing is Nikola Labs’ first institution-led growth round and brings total funding to $41 million to date.“Our AssetWatch™ proactive maintenance platform is preventing unplanned downtime and saving tens of millions of dollars annually for our 100+ global manufacturing customers,” said Brian Graham, CEO of Nikola Labs. “We are grateful for the investment and support from G2 and other partners that will allow us to meet the increased demand we are seeing from current and new customers, while enabling Nikola Labs to accelerate development of our IoT platform and machine learning capabilities.”AssetWatch™ combines rapidly deployable proprietary sensor systems, third-party data inputs, machine learning and prescriptive insights from a staff of expert condition monitoring engineers to predict upcoming machine faults, allowing customers to repair critical assets before costly failures. With growth exceeding 400% in 2021 and serving customers in the US, Canada, and UK, the company plans to announce new markets and additional capabilities in 2022 to support the entire proactive maintenance ecosystem.“We exist to help our customers transform their maintenance organization from a reactive to proactive culture,” said Will Zell, Co-Founder and Executive Chairman of Nikola Labs. “Proactive maintenance creates more production capacity, eliminates expensive downtime events and drives efficiency through a manufacturing process. With our track record and new investment partners we are doubling down on our vision to become the leading proactive maintenance platform for global manufacturers.”“Union Square Advisors is incredibly pleased to partner with the Nikola Labs team as the company continues to accelerate its next phase of growth,” said Carter McClelland, Chairman at Union Square Advisors. Read the full press release here.

About Nikola Labs, Inc.

Nikola Labs simplifies proactive maintenance and eliminates unplanned downtime for global manufacturers. A leader in sensor-based reliability solutions, its rapidly deployable, full-service, remote monitoring solution monitors the health of critical manufacturing equipment through a network of wireless sensors while machine learning and certified vibration experts analyze the data and create prescriptive and predictive maintenance alerts so machines can be repaired before failure. A spinout of The Ohio State University, Nikola Labs was founded in 2014 and was the first company launched by the Ikove Startup Nursery. http://www.nikola.tech

About InterPrivate III Financial Partners Inc.

InterPrivate III Financial Partners Inc., led by Ahmed Fattouh, Sunil Kappagoda, and Nicholaos Krenteras, is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue initial business combination targets in any industry, the Company expects to pursue targets in the financial services industry with a particular focus on tech-enabled companies, with a focus on target companies with an enterprise value of $1 billion or more. InterPrivate III’s Board of Directors includes globally recognized financial services leaders including former BankOne Chairman, John McCoy; former Lucent and Verifone Chairman, Rich McGinn; and Pine Brook founder and former Warburg Pincus Vice Chairman, Howard Newman.

About G2 Venture Partners

G2 Venture Partners is a venture and growth firm focused on emerging technologies driving sustainable transformation across traditional industries. We support entrepreneurs who are unlocking new paths to environmentally and socially responsible economic growth. http://www.g2vp.com

About Union Square Advisors

Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution, agented private capital financing, and debt capital markets advisory services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity, venture capital, and family offices. Our expertise spans many aspects of the technology landscape, including Enterprise Software and Infrastructure, FinTech, Healthcare IT, Internet+Digital Media, eCommerce, Consumer Software, AIoT & Industrial Technology and other key segments. Since inception, Union Square Advisors has advised on more than 150 strategic transactions, valued in excess of $115B. For more information, please visit http://www.usadvisors.com.

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