Mobility Innovators

The funding in the mobility sector again slowed down in October 2022 in line with the market trend. According to EY, Venture capital (VC) investment declined by 37% in Q3 2022, from $60 billion in Q2 to $37 billion invested.

Only 36 startups raised funding of $1.78 billion in October 2022, compared to 36 startups that raised $2.49 billion in September 2022.

VC funds are doubling down on later-stage rounds compared to seed and pre-seed rounds. VC and Corporate Venture Capital (CVC) continued to invest money in:

🚁 Electric plane and eVTOL

🔋 Battery technology

🔌 Electric vehicles and charging infrastructure 

According to the Mobility Innovators funding tracker, 36 startups raised $1.78 billion in a just month. The smallest funding was $285K (Seed) by Smart Kiwi 📲 and the largest round of $450 million by FormEnergy 🔋.

The funding trends in the last 10 months are as follows:

VC investors continued to invest in the growth stage / later rounds, compared to pre-seed/seed rounds. Out of 36 deals, only 22% of deals are in the pre-seed / seed stage. There is a big jump in the growth of deals. VC firms are doubling down more on existing deals, which is in line with current market trends. There is increased interest in alternative funding options.

List of startups that raised funding:

💧 HYGENCO – The Hydrogen Company – $25 million

📲 Asia Mobiliti (Pre-Series A) – $1.1 million

🔋 Ascend Elements (Debt + Series C) – $300 million

🔌 Be.EV – $125 million

🚗 invygo (Series A) – $10 million

📲 Joro App Carbon cutting app (Series A) – $10 million

🏍️ EMotorad (Seed) – $3 million

🚙 Zevvy (Seed) – $5.4 million

📲 Smart Kiwi (Pre-seed) – $285K

🚁 PLANA (Pre-Series A) – $9 million

🔋 AM Batteries (Series A) – $25 million

🏍️ Ather Energy – $50 million

⛽️ LanzaJet (Grant) – $50 million

🔌 Zunder – $97 million

🚌 CitySwift Data Platform – $4.8 million

🚁 Alef (Seed) – $6 million

📦 Flexport Shipping platform (Debt) – $200 million

📲 Freebee (Series A) – $8 million

🚙 Moove – $17 million

🚙 RevFin (Series A) – $10 million

🚙 Vecmocon Technologies (Pre Series A) – $5.4 million

📲 Wunder Mobility – $11.7 million

🏍️ BeepKart (Series A) – $9 million

🤖  Ambi Robotics Warehouse robotics – $32 million

🚲 Cycles Devinci – $800K

🚁 Lucy – Undisclosed

🚙 Mufin Finance (Series A) – $5.7 million

🔋 Form Energy – $450 million

💧 Universal Hydrogen – Undisclosed

🚙 Euler Motors (Series C) – $60 million

🚁 Joby Aviation (Strategic) – $60 million

📦 Altana Technologies (Series B) – $100 million

🚗 Halo.Car (Seed) – $5 million

📦 MVMNT (Series A) – $20 million

💧 Molten Industries – Undisclosed

🔌 Loop – $60 million

Check out the link to read more details about funding rounds.

Photo: Form Energy