Project 3 Mobility gets EUR 100 million for autonomous electric robotaxis

The 3rd Mobility Project startup in Croatia, founded by Mate Rimac, founder and CEO of Rimac Automobili, and Rimac Group, has raised EUR 100 million for its innovative autonomous urban mobility system.

Croatian technology and electric car company Rimac Automobili launched Project 3 Mobility (P3) for the development of an urban mobility system based on self-driving electric taxis in 2021. A robotaxi service in Zagreb is planned to be available by 2026.

Project 3 Mobility, a company that develops its own self-driving electric vehicle, special infrastructure, and mobility service, has closed its Series A investment round, increasing the total amount raised from private investors to approximately EUR 100 million, the company said. It attracted strong interest and support from international companies and investment funds, it said.

The funds will also be used to help expand the team

One of them is TASARU Mobility Investments, a company fully owned by the Saudi sovereign Public Investment Fund (PIF). It is the fund’s first investment in the next-generation technology sector and the first outside the Kingdom of Saudi Arabia, P3 said.

In the early stages the company has received investments from prominent organizations, including Kia, web hosting technology provider SiteGround, Croatian IT company Infinum, and Rimac Group. Additional major investors are Neurone, an investment group focused on high-tech, and Elaf Auto, a company based in Qatar, according to P3.

The company plans to use the funds for the further development of all aspects of the project and the delivery of the P3 urban autonomous mobility system, but also to support the further growth of the team, which will expand significantly in the coming years.

Pejković: A project to bring great benefits to Zagreb and Croatia

Marko Pejković, CEO and co-founder of P3, said that in the past year, the company has successfully gone through a series of demanding procedures and detailed analysis, within the EU grant approval process led by the European Commission and. in the pursuit of attracting private capital.

It should be noted that the European Commission has approved a grant of EUR 179.5 million for the project “Research, development and production of new mobility vehicles and supporting infrastructure,” which is registered as part of the National Recovery and Resilience Program of Croatia.

“The successful closing of this investment phase marks another step in proving the value of our project which will revolutionize mobility and enhance the quality of life in urban areas. We believe our project will bring great benefits to Zagreb and Croatia, as well as many other cities around the world where we plan to launch our service,” Pejković said.

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