Search for...

This Croatian Company Founded by Mate Rimac Is Paving the Way For Autonomous Electric Robotaxi Infrastructure

Two men on a graphic background
Image credit: Mate Rimac & Marko Pejković (left to right), Canva
~

Only have 1 minute? Here are 3 key takeaways: 

  • Project 3 Mobility, a Croatian company creating its own autonomous electric vehicle, raised €100M for driverless urban vehicles, infrastructure, and service development.
  • The round was led by TASARU Mobility Investments, backed by Saudi Arabia’s Public Investment Fund. 
  • The funding will be used to drive the company’s future expansion, including various aspects of the project and the implementation of P3’s urban autonomous mobility system.

 

Croatian Project 3 Mobility, a startup creating an autonomous electric vehicle, or robotaxi, along with specialized infrastructure and mobility services, raised €100M Series A investment. The round was led by TASARU Mobility Investments, backed by Saudi Arabia’s Public Investment Fund. The new Series A will be utilized in the company’s future development, also supporting the future growth of the team. P3’s urban autonomous mobility ecosystem is planned to be launched in 2026.

Building on Unicorn Bones

The company was co-founded by Mate Rimac in 2019. He is the founder and CEO of Croatia’s unicorn Rimac Automobili/Rimac Group, and Bugatti Rimac. Rimac currently serves as a Chairman at P3

P3’s main objective is to build an innovative urban ecosystem system by focusing on a safe and optimized user experience. According to their data, P3 currently employs 84 out of 100 staff in the UK for R&D, while their HQ is located in Zagreb.

P3 Mobility has been gaining substantial interest from investors over the past few years. Previously, Project 3 Mobility secured investments from companies such as Kia, South Korea’s automotive manufacturer, SiteGround, IT hosting technology, Rimac Group, a provider of technology solutions in the mobility and energy sectors, and others. Other key investors include Neurone, an investment group focused on advanced technologies, and Elaf Auto, a company based in Qatar. In 2023, P3 received a €179.5M grant from the European Commission, under an investment approved as part of Croatia’s National Recovery and Resilience Plan.

Read more:  Bulgarian SaaS Platform TokWise Raises €3M to Transform Renewable Energy Trading

“Over the past year, we successfully 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”, said Marko Pejković, CEO of Project 3 Mobility. “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”, he also added. 

Thank you for reading The Recursive!

Over 1 million people from all over the world have learned about the tech ecosystem in Central and Eastern Europe thanks to The Recursive. In order to keep our content free for everyone, we need your help. If you believe what we do is important and have the means to do so, support us in giving a voice to Central and Eastern Europe with as little as €7. Thank you!

DONATE Keep reading this article

Help us grow the emerging innovation hubs in Central and Eastern Europe

Every single contribution of yours helps us guarantee our independence and sustainable future. With your financial support, we can keep on providing constructive reporting on the developments in the region, give even more global visibility to our ecosystem, and educate the next generation of innovation journalists and content creators.

Find out more about how your donation could help us shape the story of the CEE entrepreneurial ecosystem!

One-time donation

You can also support The Recursive’s mission with a pick-any-amount, one-time donation. 👍

https://therecursive.com/author/teodoraatanasova/

Teodora Atanasova is a News Editor at The Recursive. She covers everything around funding rounds, exits, startups expanding to international markets, big tech opening R&D in CEE, meaningful for the ecosystem partnerships.