Source: Pitchbook. Analysis by Beacon Economics
  • Transportation and Mobility is comprised of two primary sub-segments. The first is Electric Transportation, which primarily covers electric vehicle producers and electric battery manufacturers. Over the past 10 years, Rivian ($25 billion), Faraday (6 billion), and QuantumScape ($1.7 billion) received the largest amount of total investment in the space in the state. Transportation and Mobility also covers Mobility Solutions, which primarily covers micro and shared mobility, and typically receives smaller amounts of funding. Zero Motorcycles ($438 million) and Skyryse ($254 million) have received the highest level of investment in the state over the past decade. In 2021, Transportation and Mobility accounted for 36 percent of VC clean tech investment in California. In this segment alone, VC funding dropped 83 percent in 2022, compared to 2021, meaning that Transportation and Mobility accounted for 53 percent of the total drop in clean tech VC investment in the state in 2022. Transportation and Mobility was the only clean tech segment in which VC investment hit multi-year lows in 2022.