[Funding alert] Zagreb-based Project 3 Mobility Secures €100 Million in Series A Round Funding

Wednesday 7, 2024 | By Startup Rise EU

Zagreb-based Project 3 Mobility secures €100 million in series A round funding. The startup has reached a major milestone in its quest to transform urban transportation by raising an astounding €100 million from private investors.

Zagreb-based Project 3 Mobility secures €100 million in series A round funding. The startup has reached a major milestone in its quest to transform urban transportation by raising an astounding €100 million from private investors.

P3 Mobility has attracted significant interest and support during this important investment round, making it a focal focus of attention for investors worldwide. The money raised is expected to be crucial in advancing the business's expansion and securing its mission.

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TASARU Mobility Investments (TASARU), a division of the Public Investment Fund (PIF), one of the biggest sovereign wealth funds in the world, is among the most notable investors in this round.

With its investment in P3 Mobility, TASARU has made its first step outside of the Kingdom of Saudi Arabia as well as its first step into the next generation of technology. This strategic alliance highlights the potential and popularity of Project 3 Mobility's mission on a global scale. Previously, P3 Mobility has obtained funding from well-known industry participants, such as Kia, a well-known South Korean automaker.

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In addition to Kia, other notable investors supporting Project 3 Mobility's development are the well-known Bulgarian software business SiteGround, the well-known Croatian IT company Infinum, and the luxury and premium technology solutions provider Rimac Group, which serves the energy and mobility sectors.

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. 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.”

The money raised from this successful investment round will be put to use to advance the development of every project component and accelerate the realization of P3's urban autonomous mobility ecosystem. The Project 3 Mobility team, which is expected to develop significantly in the upcoming years, will be able to expand with the help of these investments.

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The Series of Project 3 Mobility Its financial position has been strengthened by an investment round, which has also highlighted the faith that the world has in its objective to revolutionize urban transportation through creative autonomous mobility solutions.

About Project 3 Mobility

Project 3 Mobility team, which is diverse, is reshaping mobility in the future. They are creating an innovative urban ecosystem system with professionals from over 20 different sectors and countries, all focused on providing a premium, easy-to-use, and safe user experience.

Read also - Tallinn-based Tuum Secures €25 Million Series B Round Funding

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