VC Activity & Trends August 2022 – Investments in Mobility Startups
The funding is slowing down in the mobility sector rapidly now as the funding amount has touched the lowest point in August 2022.
August 2022 is the dull month for mobility startups. Only 28 startups raised funding of $943 million in August 2022, compared to 29 startups that raised $2.4 billion in July 2022.
VC funds are doubling down on later-stage rounds compared to seed and pre-seed rounds. VC and Corporate Venture Capital (CVC) invested money in:
🔌 Electric vehicles and charging infrastructure
🔋 Battery recycling technology
According to the Mobility Innovators funding tracker, 28 startups raised $943 million in a just month. The smallest funding was $2.3 million (pre-seed) by SiTration 🔋 and the largest round of $220 million by Nexeon 🔋.
The funding trends in the last 8 months are as follows:
There is a shift from seed/pre-seed rounds to growth stage / later rounds. Out of 28 deals, only 18% of deals are in the pre-seed / seed stage. There is a big jump in the growth 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:
💧 Blue World Technologies (Series B) – $37 million
🔌 SparkCharge (Series A+) – $7 million
🚧 Populus (Series A) – $11 million
🚌 ApniBus (Seed) – Undisclosed
🏍️ Ultraviolette Automotive (Series D) – $29.8 million
🔋 Zitara Technologies (Series A) – $12 million
🚙 INRIX (Strategic) – $10 million
🚤 Bearing (Seed) – $7 million
🔌 Zeti EV Fintech (Seed) – $2.5 million
🚛 @lori-systems – Undisclosed
🚚 AtoB (Equity + Debt) – $155 million
🔌 Atom Power, Inc. (Growth) – $100 million
📲 SAIC (Series B) – $148 million
🔌 Exponent Energy (Series A) – $13 million
🤖 Sensible 4 (Series A+) – $2.9 million
📦 HyperTrack (Series A) – $25 million
🔌 WiTricity – $63 million
🏍️ Orxa Energies (Pre-Series A) – Undisclosed
🔌 Zap-Map (Series A) – $11 million
🚛 Orange EV (Growth) – $35 million
🔋 Nexeon Ltd (Growth) – $220 million
🔋 SiTration, Inc. (Pre-seed) – $2.3 million
🔌 Exponent Energy – Undisclosed
🚁 Skyports Infrastructure (Series B) – $26.13 million
🚙 River (Series A) – $11 million
📲 Velocia (Growth) – $2.5 million
🛴 Drover AI – $5.4 million
🔋 Li Industries (Series A) – $7 million
Check out the link to read more details about funding rounds.
Photo: SAIC Mobility (c) Momenta