Project 3 Mobility (P3), a pioneering Croatian company developing its own autonomous electric vehicle, specialised infrastructure, and mobility service, announced the successful closure of its Series A investment round. The company has amassed an impressive sum of €100 million from private investors, marking a significant milestone in its journey towards reshaping the future of urban transportation.
P3 Mobility has been a focal point of attention among global investors, garnering substantial interest and backing during this crucial investment round. The funds raised are poised to play a pivotal role in propelling the company’s growth and solidifying its vision.
One of the most noteworthy investors in this round is TASARU Mobility Investments (TASARU), a subsidiary of the Public Investment Fund (PIF), one of the world’s largest sovereign wealth funds. TASARU’s investment in P3 Mobility not only marks its first foray into the next-generation technology sector but also represents its maiden investment outside the Kingdom of Saudi Arabia. This strategic partnership underscores the international appeal and potential of Project 3 Mobility’s vision.
P3 Mobility had previously secured investments from prominent players in the industry, including Kia, a leading South Korean automotive manufacturer. Alongside Kia, other strategic investors contributing to Project 3 Mobility’s journey include SiteGround, a renowned Bulgarian software company, Infinum, a prominent Croatian IT firm, and Rimac Group, a provider of premium and luxury technology solutions in the mobility and energy sectors. Rimac Group, notably, is the sole owner of Rimac Technology and the majority shareholder of Bugatti Rimac. Neurone, an investment group with a focus on advanced technologies, and Elaf Auto, a Qatar-based company, round out the list of key investors.
Marko Pejković, the Chief Executive Officer of Project 3 Mobility, said: “We are very happy with the closing of this investment round and bringing on board such strong investors to support us in achieving our bold vision. The fact that we managed to attract some of the most renowned global strategic and financial investors in such a challenging environment for start-ups shows confidence in our vision and team.”
Pejković continued, “Over the past year, we successfully navigated through a series of demanding procedures and in-depth analyses, both within the EU grant approval process led by the European Commission and in our pursuit of attracting private capital. The successful closure of this investment round marks another milestone in affirming the value of our project that will revolutionize mobility and enhance the quality of life in urban areas.”
He also emphasized the broader positive impact of their mobility solution, stating, “We believe our project will bring significant benefits for Zagreb and Croatia, as well as many other cities worldwide where we plan to launch our service.”
Looking forward, Project 3 Mobility has ambitious plans for the next two years. The company aims to continue attracting private capital, aligning it with the project’s implementation needs. The team at Project 3 Mobility is enthusiastic about the future and the positive impact their service will have on communities.
The funds acquired from this successful investment round will be utilized to further develop all components of the project and bring P3’s urban autonomous mobility ecosystem closer to fruition. These investments will also facilitate the expansion of the Project 3 Mobility team, which is set to grow significantly in the years to come.
Project 3 Mobility’s Series A investment round has not only bolstered its financial standing but has also underscored the global confidence in its mission to transform urban transportation through innovative autonomous mobility solutions. As the company continues to progress, it remains a promising player in the ever-evolving landscape of urban mobility.
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- Source: https://www.eu-startups.com/2024/02/croatia-based-project-3-mobility-announced-the-closure-of-a-e100-million-series-a-investment-round/
