A new report by business accelerator Via ID and data provider Dealroom.co has found that Europe accounted for 40% of all mobility transactions globally in 2024.
This is compared to 30% for Asia and 21% for the United States, reinforcing Europe’s significance in the sector.
The ‘State of the European Mobility Startups 2024’ report provides an overview of some of the key trends in mobility startup funding.
Europe has remained the most active region since 2018 in terms of mobility deal volume. However, after a booming post-COVID period, the European venture capital (VC) market has continued its adjustment phase, with an 11% decline in total funding last year compared to 2023. The mobility sector was not spared, experiencing a 30% decrease in funding compared to 2023 – $6 billion raised in 2024, equivalent to 2019 levels, versus $9 billion in 2023.
This meant funding for the mobility sector dropped from 3rd to 5th place among the most funded sectors in Europe in 2024, but it is still among the top five most funded sectors in Europe for the past decade.
Pierre Gonnet, Corporate Innovation Manager at Via ID and the main contributor to the report, told Zag Daily: “Europe continues to demonstrate its importance in global innovation, accounting for 40% of all deals in the mobility sector.
“Sectors such as EV infrastructure and manufacturing are reaching maturity, turning to debt financing. The market favours B2B, asset-light, and technology-intensive business models.”
The mobility sector experienced a dual transition in 2024. On the one hand, capital-intensive models such as EV charging had a threefold increase in debt financing, reaching $9 billion between 2023 and 2024. On the other hand, equity financing has grown for asset-light models, such as SaaS solutions, which accounted for 38% of total mobility investments in 2024, compared to just 14% in 2023.
“The European sustainable mobility ecosystem is well-positioned to grow and shape the future of transportation,” Pierre concluded.
