The Electric Vehicles sector has over 4K+ startups contributing to the advancement of electric vehicles. These include startups operating across the entire spectrum – manufacturers & sellers of electric vehicles, technology developers of associated components and internet-first startups enabling adoption of electric vehicles through sharing & rental solutions! The United States of America, China, India, Germany and The United Kingdom are amongst the top countries leading the Electric vehicles sector.

Electric Vehicles is also one of the most active sectors for investors, with an overall funding of USD 50 Bn in just 700+ companies. It is also interesting to note that nearly 75% of the funding has been raised in the recent 3 years (2017-2019), attracting significant investments since 2016.

Plug and Play Tech Centre, Sequoia, Mass Challenge, Y Combinator, Daimler are amongst the most active investors in this sector, by number of investments. The sector also attracts investments from various government programs – Climate KIC (EU), Sovereign Fund (UK), Department of Energy (US) and Energy Commission (California).

Electric automakers (majorly cars), Charging network stations, Vehicle as a service providers of bikes & scooters are the top business models attracting major funding.

The sector has also seen the rise of over 14 unicorns – recent ones being Beijing Chehe Home Information Technology, Mission: Electric, Rivian Automotive, ChargePoint and Nikola Motor, just to name a few; We also have nearly 60 public companies – Niu, NIO, Navya technology, Akasol and Voltabox going public in the recent past.

We, at Tracxn, keep a track of the latest happenings in the world of startups and their associated ecosystems – including venture capital funds, private equity funds and investment banks amongst others.

In this edition, we have the ‘Top Electric Vehicles startups’ – a curated list of the recent and most promising startups leading the Electric vehicles revolution, from across the globe.

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Unicorns, with their valuations exceeding the billion dollar mark, and even multi-billion mark in a few cases, represent represent the top electic vehicles startups globally.

WM Motor Logo

WM Motor

2015, Shanghai
USD 4.40B

Xiaopeng Logo


2015, Guangzhou
USD 1.75B

Youxia Motors Logo

Youxia Motors

2014, Shanghai
USD 1.34B

Byton Logo


2016, San Francisco
USD 1.20B

Singulato Motors Logo

Singulato Motors

2014, Beijing
USD 1.19B

Zoox Logo


2013, Menlo Park
USD 950M

Lime Logo


2017, San Mateo
USD 855M

Nikola Motor Logo

Nikola Motor

2014, Salt Lake City
USD 805M

Bird Logo


2017, Santa Monica
USD 693M

Mission: Electric Logo

Mission: Electric

2017, Bangalore
USD 306M

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The Soonicorns – soon to be Unicorns – are the handful of highly valued startups which have successfully grown out of their nascency to attract valuations of over a few hundred millions. Watch out for these companies in the coming years as they take on the journey to becoming the elite Unicorns.

Romeo Power Logo

Romeo Power

2015, Santa Monica
USD 119M

Lilium Logo


2015, Wessling
USD 101M



2018, Berlin
USD 100M

Ather Energy Logo

Ather Energy

2013, Bangalore

Cityscoot Logo


2014, Paris

Dott Logo


2018, Amsterdam

FreeWire Technologies Logo

FreeWire Technologies

2014, San Leandro

InstaVolt Logo


2016, Basingstoke

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The Minicorns – are the high growth early stage ventures (Series A+). Watch out for these companies as they take the business to the next level, by scaling up for the accelerated growth.

Hyliion Logo


2015, Cedar Park

Einride Logo


2016, Stockholm

Movo Logo


2017, Madrid

Lithium Cabs Logo

Lithium Cabs

2013, Bangalore

Unu Logo


2013, Munich

Etergo Logo


2014, Amsterdam

EasyMile Logo


2014, Toulouse

Chargefox Logo


2017, Melbourne

MOVE Systems Logo

MOVE Systems

2014, New York City

Zehus Logo


2013, Milano

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Detailed List

WM Motor Logo Disclosed
FundingUSD 4.40B     WM Motor2015 , Shanghai (China)

Smart electric car

Investors: Linear Venture, + 8 more

Last round: USD 447M, Series C, Mar 2019

Xiaopeng Logo Disclosed
FundingUSD 1.75B     Xiaopeng2015 , Guangzhou (China)

Electric vehicles manufacturer

Investors: Xiaomi, Matrix Partners + 24 more

Last round: USD 400M, Series C, Nov 2019

Youxia Motors Logo Disclosed
FundingUSD 1.34B     Youxia Motors2014 , Shanghai (China)

Electric car maker

Investors: Qianhai Wutong M&A Fund, China Environmental Protection Industry + 3 more

Last round: USD 350M, Series B, Aug 2018

Byton Logo Disclosed
FundingUSD 1.20B     Byton2016 , San Francisco (United States)

Semi autonomous vehicle manufacturer

Investors: Marubeni, FAW Group Corporation + 4 more

Last round: USD 500M, Series C, Sep 2019

Singulato Motors Logo Disclosed
FundingUSD 1.19B     Singulato Motors2014 , Beijing (China)

Developer of smart electric car

Investors: ITOCHU, Legend Star + 5 more

Last round: USD 100M, Series C, Oct 2019

Zoox Logo Disclosed
FundingUSD 950M     Zoox2013 , Menlo Park (United States)

Autonomous mobility company developing fully autonomous electric vehicle

Investors: Mike Cannon-Brookes, Fred Hu + 15 more

Last round: USD 200M, Series C, Oct 2019

Lime Logo Disclosed
FundingUSD 855M     Lime2017 , San Mateo (United States)

Smart bike-rental service provider

Investors: KDDI Open Innovation Fund, Bain Capital + 49 more

Last round: Series D, Aug 2019

Nikola Motor Logo Disclosed
FundingUSD 805M     Nikola Motor2014 , Salt Lake City (United States)

Developer of electric trucks

Investors: CNH Industrial + 8 more

Last round: Grant (prize money), Oct 2019

Bird Logo Disclosed
FundingUSD 693M     Bird2017 , Santa Monica (United States)

Electric kick scooter sharing service

Investors: Caisse de depot et placement du Quebec, Sequoia Capital + 37 more

Last round: USD 275M, Series D, Oct 2019

Mission: Electric Logo Disclosed
FundingUSD 306M     Mission: Electric2017 , Bangalore (India)

Developer electric mobility services & charging infrastructure

Investors: SoftBank Group, Ratan Tata + 3 more

Last round: USD 250M, Series B, Jul 2019

Romeo Power Logo Disclosed
FundingUSD 119M     Romeo Power2015 , Santa Monica (United States)

Home based and EV energy storage developer

Investors: HG Ventures, OpenDoor Venture Capital + 2 more

Last round: USD 4M, Series A, Aug 2019

Lilium Logo Disclosed
FundingUSD 101M     Lilium2015 , Wessling (Germany)

Developer of electric jet with VTOL capabilities

Investors: Tencent, LGT Group + 7 more

Last round: USD 90M, Series B, Sep 2017

TIER Logo Disclosed
FundingUSD 100M     TIER2018 , Berlin (Germany)

Electric kick scooter rental platform

Investors: Mubadala, Goodwater Capital + 13 more

Last round: USD 60M, Series B, Oct 2019

Ather Energy Logo Disclosed
FundingUSD 97M     Ather Energy2013 , Bangalore (India)

Smart electric scooters for India

Investors: InnoVen Capital, Sachin Bansal + 11 more

Last round: USD 8M, Venture Debt, May 2019

Cityscoot Logo Disclosed
FundingUSD 68M     Cityscoot2014 , Paris (France)

App-based rental platform for free-float electric scooters

Investors: RATP, InVenture Partners + 4 more

Last round: USD 50M, Series B, Feb 2018

Dott Logo Disclosed
FundingUSD 57M     Dott2018 , Amsterdam (Netherlands)

Provider of urban micro-mobility solutions

Investors: Axel Springer, Felix Capital + 7 more

Last round: USD 34M, Series A, Jul 2019

FreeWire Technologies Logo Disclosed
FundingUSD 30M     FreeWire Technologies2014 , San Leandro (United States)

Mobile charging stations for EVs

Investors: BP Ventures, Volvo Cars + 12 more

Last round: USD 15M, Series A, Dec 2018

InstaVolt Logo Disclosed
FundingUSD 15M     InstaVolt2016 , Basingstoke (United Kingdom)

Rapid EV charging infrastructure

Investors: Zouk Capital

Last round: USD 15M, Series A, Dec 2016

Hyliion Logo Disclosed
FundingUSD 47M     Hyliion2015 , Cedar Park (United States)

Regenerative braking based add-on hybrid solution for trucks and trailers

Investors: Agility Ventures, Dana + 8 more

Last round: Series A, Aug 2019

Einride Logo Disclosed
FundingUSD 40M     Einride2016 , Stockholm (Sweden)

Electric autonomous transport vehicle

Investors: EQT Ventures, NordicNinja + 5 more

Last round: USD 25M, Series A, Oct 2019

Movo Logo Disclosed
FundingUSD 23M     Movo2017 , Madrid (Spain)

App-based electric scooter rental platform

Investors: Mutua Madrilena, Seaya Ventures

Last round: USD 23M, Series A, Apr 2019

Lithium Cabs Logo Disclosed
FundingUSD 20M     Lithium Cabs2013 , Bangalore (India)

All-electric car fleet services & software for businesses

Investors: IFC + 37 more

Last round: USD 17M, Series A, Apr 2018

Unu Logo Disclosed
FundingUSD 20M     Unu2013 , Munich (Germany)

Electric scooters

Investors: NRW.Bank, Iris Capital + 5 more

Last round: USD 12M, Series A, Oct 2018

Etergo Logo Disclosed
FundingUSD 17M     Etergo2014 , Amsterdam (Netherlands)

Electric scooter manufacturer

Investors: YES!Delft, Lucros Investment

Last round: USD 11M, Series A, Dec 2018

EasyMile Logo Disclosed
FundingUSD 15M     EasyMile2014 , Toulouse (France)

Developer of autonomous driving systems & smart mobility solutions

Investors: Continental, Alstom + 1 more

Last round: Series A, Jul 2017

Chargefox Logo Disclosed
FundingUSD 8M     Chargefox2017 , Melbourne (Australia)

Electric vehicle charging network

Investors: ARENA + 3 more

Last round: USD 7M, Grant (prize money), Oct 2018

MOVE Systems Logo Disclosed
FundingUSD 4M     MOVE Systems2014 , New York City (United States)

Electric mobile food carts and charging systems

Investors: Wakestream Ventures

Last round: USD 3M, Series A, Jun 2017

Zehus Logo Disclosed
FundingUSD 3M     Zehus2013 , Milano (Italy)

Propulsion systems for electric bicycles

Investors: Invitalia Ventures, European Commission + 2 more

Last round: USD 2M, Series A, Mar 2017

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Selection Process

The Emerging Startup Series comprises of Unicorns – companies with over $1 billion valuation, Soonicorns – companies with high valuation and good chances of soon becoming Unicorns, and Minicorns – early-stage companies that have the potential to be Unicorns in the long term.

Tracxn Emerging Startups provides a handpicked selection of high growth and high potential companies, founded since 2013, that are making an impact in the new-age sectors. The shortlisting is based on a combination of multiple publicly available signals and detailed analysis of the company by our internal sector specialist teams. The companies that make the cut are the ones that show promising performance on multiple parameters – market size, investment by marquee investors, execution excellence and future growth prospects.