VC Activity & Trends July 2022 – Investments in Mobility Startups
The funding winter is finally here as the funding activities are slowing down. The number of deals has fallen by 44%, with just 29 deals in July 2022, compared to 42 deals in June 2022. The overall funding amount has gone to $2.4 billion, due to two mega deals – Northvolt ($1.1 billion) and EnergyX ($450 million). VC funds are doubling down on promising startups and looking for a profitability path.
July 2022 is another exciting month for mobility startups as VC and Corporate Venture Capital (CVC) continued to invest money in:
🔌 Electric vehicles and charging infrastructure
🔋 Battery technology
🤖 Autonomous vehicles
📲 Subscription services
According to the Mobility Innovators funding tracker, 29 startups raised $2.4 billion in a just month. The smallest funding was $512K (seed) by Welectric B.V. 🚙 and the largest round of $1.1 billion by Northvolt 🔋.
The funding trends in the last 7 months are as follows:
There is a shift from seed/pre-seed rounds to growth stage / later rounds. Out of 29 deals, only 17% 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:
📲 Naturemobility (Series B) – $76 million
🤖 OttonomyIO (Seed) – $3.3 million
🚲 Canyon Bicycles GmbH (Growth) – $30.75 million
🚗 Onto (Series C) – $60 million
🔋 EnergyX (Alternative) – $450 million
🔌 LEAP24 (Alternative) – $15.38 million
🚙 Welectric B.V. (Seed) – $512,000
🤖 Navya Group (Convertible Bond) – $37 million
🚁 EndureAir Systems – $1.7 million
🔌 Elinta Charge – $7.2 million
⛽ XFuel – $8.3 million
🚛 Lightship (Series A) – $23 million
🔌 Nyobolt (Series B) – $59 million
🔋 Wildcat Discovery Technologies – $90 million
🚁 ZeroAvia (Series B) – $30 million
✈️ Merlin Labs (Series B) – $105 million
🌎 Spinview – $6.6 million
🤖 May Mobility (Series C) – $111 million
🚙 Aurora Labs (Series C) – $63 million
🚗 SolarTaxi – Undisclosed
🚛 7Gen (Series A) – $8 million
📲 APFusion (Seed) – $6.5 million
🚙 Zeem Solutions – $50 million
🔋 Northvolt (Alternative) – $1.1 billion
🏍️ Mottu – $40 million
🚌 Optibus (Strategic) – Undisclosed
📲 WeWALK (Seed) – $2.1 million
📲 Loopit.co (Seed) – $3.6 million
🚗 Moove (Series A) – $20 million
Check out the link to read more details about funding rounds.
Photo: Jim West/Alamy