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(EU. February 13, 2025) – EIT Urban Mobility has once again emerged as the leading investor in European mobility startups, according to the latest State of European Mobility Startups 2024 report from Via ID and Dealroom. With 28 investment rounds in 2024 and a portfolio of 135 startups, EIT Urban Mobility stands out as one of the most committed investors in sustainable and socially responsible mobility solutions. EIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT), a body of the European Union, and as such has access to the largest innovation network in Europe. Created in 2008 with the commitment to strengthen Europe’s ability to innovate, the EIT Community brings education, innovation and business creation together. With a holistic approach, the State of European Mobility Startups 2024 report has found EIT Urban Mobility’s complete portfolio is impact-focused, a figure that places it well ahead of Europe’s top mobility investors, where less than half of investments are dedicated to this area.
The European mobility sector faced a sharp downturn in venture capital investment in 2024, with total funding dropping to $6 billion in 2024, a 30% decline from the previous year. The dominance of EV battery and charging investments waned as investors pivoted towards autonomous vehicles and sustainable aviation. Corporate investors also expanded their role, contributing to nearly half of all European mobility funding rounds, more than doubling their share from 2020.
Despite this challenging backdrop, EIT Urban Mobility continued to strengthen its portfolio, with investments spanning transport electrification, urban logistics, and mobility data management. The organisation has also made strategic investments in emerging areas such as micromobility and behavioural change initiatives that encourage walking and other active transport modes.
Fredrik Hanell, Director of Impact Ventures at EIT Urban Mobility: “Since 2020, we’ve emphasised broadening our investment scope to capture promising urban mobility innovations across many countries and business models. The lessons have allowed us to refine our focus on impact and gender diversity. We will continue this in 2025 while targeting larger investment rounds going forward.”
To quantify the net impact of its portfolio, EIT Urban Mobility uses the Upright Net Impact Model, an analytical framework based on over 250 million scientific articles and 150,000 product and service categories. According to this model, EIT Urban Mobility’s portfolio has a 48% positive net impact score, outperforming the benchmark of 37%. Environmental benefits remain a standout area, with the portfolio companies achieving a score that is 133% higher than the industry average.
A further priority for EIT Urban Mobility is fostering diversity and gender balance. The VIA ID report highlights that just 4% of venture capital funding in the European mobility sector is directed towards women-led startups. In contrast, 45% of EIT Urban Mobility’s equity investments are in businesses led by women, demonstrating a firm commitment to addressing this disparity.
Beyond its environmental and diversity objectives, EIT Urban Mobility has a dedicated investment budget for European economies that require more support in the innovation sector. These regions identified under the Regional Innovation Scheme, hold significant untapped potential. By directing resources to these areas, EIT Urban Mobility contributes to economic growth, job creation, and the development of sustainable transportation systems.
Looking ahead to 2025, EIT Urban Mobility, aims to further expand its portfolio with an investment strategy focusing on creating positive outcomes for both people and the planet while ensuring competitive market returns. To facilitate easier international scaling, EIT Urban Mobility strengthens its collaboration with the top pan-European startup ecosystems. Collaborations are in place with the Moove Lab (Paris), The Drivery (Berlin), Drive TLV (Tel Aviv), and OGR (Turin).
