We previously highlighted that transportation technology funding has remained stable in recent quarters. This blog post will take a closer look at the funding trends within the individual transportation technology categories. Per our analysis, we notice two important observations:
- The Smart Mobility category leads the sector in Q3 funding
- The Ride Hailing category leads the sector in all-time funding
We’ll highlight these observations with some graphics and discussions below.
The Smart Mobility Category Leads Transportation Technology In Q3 Funding
To start off, let’s review the amount of funding raised this quarter per category within transportation technology.
The above graphic highlights that the Smart Mobility category leads the sector in Q3 funding with $4.4B. The Ride Hailing category follows in the second place with $2.8B.
Smart Mobility companies provide solutions for increasing sustainability in conducting transportation within cities. These solutions include all electric vehicles and distributed energy systems that recharge vehicles. Some example companies in this category include Gogoro, ChargePoint, Cityscoot, and Zagster.
Let’s now see how the transportation tech categories’ funding compare with each other historically.
The Ride Hailing Category Leads the Sector in All-Time Funding
The graph below shows the all-time funding for the various transportation technology categories. The Q3 funding and growth rates of these categories are also highlighted.
As the bar graph indicates, the Ride Hailing category leads transportation technology in total funding at $68B. Its funding is almost twice the funding of the next category, Smart Mobility at $37B.
Ride Hailing companies enable consumers to schedule a ride either in real time or in the future. They include transportation network companies, white label mobile applications, and website booking portals. Some example companies in this category include Uber, Didi Chuxing, Lyft, and Ola Cabs.
In summary, the Smart Mobility category leads transportation technology in Q3 funding, while the Ride Hailing category is the clear leader in total funding.
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