Dealroom – State of European Mobility Startups, 2023

In 2023, European mobility startups saw a decrease in funding of 26% compared to the previous year, but still managed to receive $9 billion in investments. This funding level was higher than before the pandemic, and the mobility sector ranked third among industries in Europe in terms of funding. B2B startups were the main recipients of investments, attracting 85% of the funding. Corporate investors continued to show interest in the sector, contributing $2.8 billion across 85 deals. While there was a slowdown in funding dynamics, there was an increase in mergers and acquisitions, particularly in the logistics sector. The valuation of mobility startups declined, with more than 50% of funding rounds occurring at valuations below $5 million. E-mobility companies received a record share of funding, with infrastructure-related startups, EV battery, and EV charging startups being prominent contributors. Europe narrowed the funding gap with the US and increased its global funding share, remaining the top destination for early-stage funding.