Mobility Innovators

After the slow start in January 2023, the funding in the mobility sector is growing in February 2023. Both the number of deals and the average cheque size have increased. 35 startups raised funding of $1.50 billion in February 2023, compared to 27 startups that raised $700 million in January 2023.

However, the funding activities are still down by more than 60% as 40 startups raised $3.69 billion in February 2022. It is important to highlight that February 2022 was a record month for mobility and logistics startups.

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

🔌 Electric vehicles and charging infrastructure 

🚐 Ridehailing and on-demand

According to the Mobility Innovators funding tracker, 35 startups raised $1.50 billion in a just month. The smallest funding was $1.2 million (Seed extension) by Treepz 🚐 and the largest round of $300 million by ONE 🔋.

The funding trends in the last 14 months are as follows:

VC investors continued to invest in the growth stage / later rounds, compared to pre-seed/seed rounds. Out of 35 deals, only 17% 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:

🚁 Skydio (Series E) – $230 million

🚐 inDrive (Debt) – $150 million

🚗 Carmoola (Series A) – $9 million + $115 million (Debt)

💧 GeoPura – $43 million

🚛 Slync.io – $24 million

📊 Electra – $21 million

🚗 Gauge Automotive (Seed) – $5.3 million

🚛 BlueCargo – $11 million

🔌 Magenta Mobility (Series B) – $40 million

🔌 ChargerHelp! (Series A) – $17.5 million

🚦 VivaCity – $8.5 million

🚐 Via – $110 million

🚛 Wisor.AI (Seed) – $8 million

🚛 WARP (Seed) – $5.7 million

🚗  Car IQ Inc. (Series B) – $15 million

🚗  Spiffy — On-Demand Car Care (Series C) – $30 million

🚲 Dance (Debt) – $12.72 million

📦 JOKR (Series C) – $50 million

🚙 TAU New Technology (Series B) – $9.5 million

🔋 Liminal (Series A2) – $17.5 million

🚁 DRONAMICS (Pre-Series A) – $40 million

🔋 cylib (Seed) – $8.5 million

🚅 Hardt Hyperloop – Undisclosed

🏍️ Zypp Electric – $25 million

📲 TRONITY – Undisclosed

🚁 Garuda Aerospace Private Limited (Series A) – $22 million

🚌 BuuPass – Bus, Train & Flight bookings (Pre-seed) – $1.3 million

🚚 Freightify (Series A) – $12 million

🔋 Our Next Energy (ONE) (Series B) – $300 million

🚛 Turno (Series A) – $13.8 million

🏍️ ION Energy (Series A) – $18.7 million

🚗 Planet42 – $15 million + $85 million (Debt)

🚐 Treepz (Seed) – $1.2 million

🚗 GetGo Carsharing – $14.98 million

🚐 transferz (Seed) – $7 million

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

Photo: ©Via