PitchBook: 3rd-quarter deals fell 79% in year

Olaf Sakkers, a partner at RedBlue Capital, which has invested in Australian e-bike startup Zoomo, which has become one of the fastest-growing e-bike companies in the world, said rising interest rates are putting investors at risk. He says it weakens his will. RedBlue said in January that he invested $28 million in Indian electric light truck company EVage.

“There is not much money to invest in startups right now,” Sakkers said at the mobility technology conference CoMotion LA 22 in November. Because the amount of capital used will decrease and the startup will become more risky.”

Venture capital sunk $5.5 billion in mobility-related deals in the third quarter of 2022, down 79% year-on-year, according to data compiled by PitchBook.

Separately, funding for supply chain technology companies totaled $8.6 billion, down 40% from the third quarter of 2021, the financial data firm said.

Startups accessing venture capital funding in 2023 should find more conditional funding compared to the cheaper funding they had access to in 2020 and 2021, says PitchBook says Jonathan Jerkink, Senior Analyst on the Emerging Technologies Research team at .

Case in point: Swedish self-driving truck company Einride’s recent $500 million financing involved a $300 million loan from Barclays Europe and stakes in the company from Swedish pension funds AMF, EQT Ventures, Northzone and Polar Structure. , Norrsken VC, Temasek and other investors. $200 million remaining.

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