Mobility Innovators

The funding in the mobility sector is still down but the average cheque size has increased in November 2022 in line with the market trend. Only 29 startups raised funding of $2.20 billion in November 2022, compared to 36 startups that raised $1.77 billion in October 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 vehicles and charging infrastructure 

🔋 Battery technology

According to the Mobility Innovators funding tracker, 29 startups raised $2.20 billion in a just month. The smallest funding was $265K (Seed) by Automovill and the largest round of $700 million by Yovah.

The funding trends in the last 11 months are as follows:

VC investors continued to invest in the growth stage / later rounds, compared to pre-seed/seed rounds. Out of 29 deals, only 13% of deals are in the seed / pre-series A 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:

🚙 Kyte (Series B) – $60 million

🔌 Chargeup (Pre Series A) – $7 million

🚙 Revel (Debt) – $50 million

🚁 Garuda Aerospace Private Limited – $5 million

⛽️ Buyofuel (Pre-Series A) – $1.8 million

🚙 Motovolt Mobility – $2.5 million

🚙 VOYAH Norge (Series A) – $700 million

🔌 EV Realty – $28 million

📲 Parallel Domain (Series B) – $30 million

📲 WeaveGrid (Series B) – $35 million

🚛 ISEE (Series B) – $40 million

🚌 BasiGo – $6.6 million

📦 GoFreight (Series A) – $23 million

💻 Enode (Series A) – $15 million

🚁 Skye Air Mobility (Seed) – $1.7 million

🛴  Yulu (Strategic) – $9 million

📲 Automovill Technologies Pvt Ltd (Pre-Series A) – $265K

💻 AZOWO GmbH – $10 million

🚙 Electra – $25 million

🚛 MoEVing – $2.5 million

🔋 Electric Era – Undisclosed

🔋 Welion Energy (Series D) – $206 million

🚁 Volocopter GmbH (Series E) – $182 million

🔌 The Mobility House (Series C) – $50 million

🔌 Xeal (Series B) – $40 million

🔋 AMP (Series A) – $17.25 million

🚴 Aventon (Strategic) – $590 million

📲 Loop (Series A) – $30 million

🚁 VoltAero (Series B) – $31.7 million

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

Photo: © BasiGo