The future of the car is here! It has actually been around for years now. Next-generation mobility is electric, independent and sustainable, or at least that is what most of us want it to be. It’s also what a few funds have dedicated their whole mission to, investing and building the future of the car. Making EVs the new way we get from point A to point E.
An energy shift for electric vehicles and tech
The last couple of years have marked an exciting rise in VC and public interest in EV. After ending 2022 with a record 10% of global car sales being EVs, continued innovation and more government commitment.
Not only are the goals of the biggest markets in the world set on an electric future, with the US, EU, UK and Asia, are all setting ambitious objectives for the next decade. The adoption of EVs has also skyrocketed among users as the technology continues to evolve and gain popularity.
Not only that, but demand for an overall reduction of carbon footprint across all industries has pushed companies to look for transportation alternatives to bring their production to the most sustainable levels.
All of these key factors and more, have created the perfect storm for the EV niche to experience a boom. So, who is behind the investments in EVs?
Co-Founder – Stonly Baptiste Blue
Previously known as Urban Us, Third Sphere is a sustainability and climate-focused investment fund. They work with venture capital, credit, and several special projects to fund integral innovation that impacts all climate change-related aspects from EVs to clean water and sustainable cities.
Rated one of the VC funds founders love the most, Third Sphere has been prolific and laser focused. Building an impressive portfolio with more than one unicorn and 5 exits.
The New York-based fund has also taken advantage of its success to create new ways of helping advance technology to change the planet, like its unique units.
- Perl Street: created in 2018 to help fund distributed and emerging assets, transforming under-funded hardware companies into fundable projects.
- Urban Gateway: a China-focused effort to help founders figure out how to have a greater impact on the country’s climate challenges.
Three Sphere is currently funding over 12 electric mobility startups and will continue to be a leader in the industry and sustainability as a whole.
Founder – Michael Granoff
Maniv Mobility is a venture capital firm that focuses on innovation in transportation technology. Investing in projects ranging from electric vehicles to safety and vehicle autonomy.
Headquartered in both New York and Tel Aviv, Maniv Mobility wants to reimagine the future of driving, one where the dangers to drivers and the environment are greatly reduced by adopting new technology.
Focusing on early-stage mobility startups, the funds boast a portfolio that’s 34 companies deep and spans over 5 countries.
Its latest investment is Gauge, a digital auction platform that allows dealers to buy cars directly from users. The fund led a $5 Million seed investment for Gauge to continue development and expansion.
Co-Founder – Quin Garcia
Autotech Ventures is one of the few VC funds laser-focused on ground mobility, looking to transform the ways we move on the ground through technology and innovation.
Honing in on companies from seed to Series C the fund maintains a “founder first” motto and prefers to invest in capital-light startups, offering $1-8 Million investments as lead or follow-on.
The fund, which manages over $400 Million in investment capital, has helped its portfolio of companies raise over $5 Billion. Its portfolio includes transportation heavyweights like Lift and Volta.
Its keen eye and the drive in which they pursue growth for its partners is why they are likely to stay at the head of the race when it comes to EV.
Managing Directors – Samuel Baker & Dr Jan-Christoph Rickers
The Mobility Fund is a European future of mobility investors that funds early-stage, from seed to Series A, B2B startups innovating in the EV industry and associated niches.
Focusing on a wide scope of areas including electrification, logistics, autonomy, shared mobility and connectivity. MobilityFunds prefers to act as the first investor, to cultivate becoming the go-to VC for early-stage financing.
Although mainly focused on European innovation the fund has worked with outside markets like Israel and the United States.
Headed by managing directors, Samuel Baker & Dr Jan-Christoph Rickers, both experienced in mobility and sustainable tech. The fund has its investments all over the EV field and is one of the leaders in the EU.
574 Invest is the strategic venture capital arm of the SNFC, one of the world’s biggest transportation companies. The leaders in transportation in France and fourth in Europe.
While its parent company SNFC is heavily focused on train and mass mobility, 574 Invest has a more varied portfolio of investments.
574 Invest plays, and pays, a lot in its home ground investing heavily in France, and then Europe. Managing a healthy €160 Million in funds and working with over 350 startups.
The fund is currently involved in projects from fast EV charging tech to electric vehicle data collection.
As you can expect with the vehicle industry some of the biggest automotive names are involved in the development of electric vehicles and the technology needed to support the transitions.
All major car brands are actively participating in the innovation of EV capabilities and technologies. Integrating these advancements into their own EV models, to keep up with demand and push ahead of their rivals.
This type of highly competitive and funded EV innovation benefits users in the long run and will only help advance what is already a fast-moving industry.
Some of the most active automotive venture capital funds are:
- GM Ventures
- BMW i Ventures
- Alliance Ventures (Renault-Nissan-Mitsubishi)
- Toyota Ventures
- Porsche Ventures
- Volvo Cars Tech Fund