Croatian company Project 3 Mobility closes €100M Series A round

Project 3 Mobility, a Zagreb-based company developing an ecosystem of urban autonomous mobility, has closed a Series A investment round, raising a total amount of €100 million from private investors. The investment will support the company’s future development and growth.

• Launched in 2019 and led by Marko Pejković, Project 3 Mobility (P3) develops its own autonomous electric vehicle, specialized infrastructure, and mobility service.
• The company claims its solution helps to redefine urban mobility to keep streets safe, improve the communities, and be good for the planet. P3 is currently headquartered in Zagreb, but the company also has an R&D office in the United Kingdoms.

Who invested?

• The round, which brought the total amount of raised capital to €100 million, saw participation from TASARU Mobility Investments, a Saudi Arabian public investment fund. In its previous stages of development, the company managed to secure investments from Kia, one of South Korea’s automotive manufacturers.
• Other strategic investors who are supporting P3 are the Bulgarian software company SiteGround, the Croatian IT company Infinum, and Rimac Group, a provider of technology solutions in the mobility and energy sectors. Additional key investors are Neurone, an investment group focused on advanced technologies, and Elaf Auto, a company based in Qatar.

Over the past year, we 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.

We believe our project will bring significant benefits for Zagreb and Croatia, as well as many other cities worldwide where we plan to launch our service,

Marko Pejković, CEO of Project 3 Mobility, commented the investment.

P3 will apply the fresh capital for further development of all elements of the project and the delivery of P3’s urban autonomous mobility ecosystem. It will also support further growth of the team.