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Post: TASARU Mobility Investments makes debut investment outside Saudi Arabia, backs Zagreb-based Project 3 Mobility



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Zagreb-based Project 3 Mobility, a company specialised in urban autonomous mobility, announced on Tuesday, February 6, that it has closed its Series A investment round, bringing the total amount raised from private investors to c. €100M.

TASARU Mobility Investments (TASARU), a company fully owned by the Public Investment Fund (PIF), invested in the Croatian company, making it their first investment in the next-generation technology sector and the first outside of the Kingdom of Saudi Arabia.

The Croatian company will use the funds to accelerate the development of all elements of the project and the delivery of P3’s urban autonomous mobility ecosystem. 

The investments will also support further growth of the team, which will expand significantly in the years to come.

Previously, the company has received investments from entities, including Kia, SiteGround, Infinum, and Rimac Group. Additional key investors are Neurone and Elaf Auto.

Project 3 Mobility: What you need to know

Project 3 Mobility is developing a new urban mobility ecosystem that aims to significantly improve mobility patterns and transportation systems in urban areas. 

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The ecosystem consists of three main components: the autonomous electric vehicle, specialized infrastructure, and a complete service platform. 

Furthermore, the company plans to build a production facility in Croatia for the large-scale production of autonomous electric vehicles. 

Project 3 Mobility has already signed agreements with five cities and is in communication/negotiation with 35 other cities across Europe and the world interested in the project.

Marko Pejković, Chief Executive Officer of Project 3 Mobility says, “We are very happy with the closing of this investment round and bringing on board such strong investors to support us in achieving our bold vision. The fact that we managed to attract some of the most renowned global strategic and financial investors in such a challenging environment for start-ups shows confidence in our vision and team.”

“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. The successful closure of this investment round marks another milestone in affirming the value of our project that will revolutionise 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,” adds  Pejković. 

Looking ahead, over the next two years we continue to attract private capital, aligned with the needs of our project’s implementation. We have a team that is enthusiastic about the journey ahead and the positive impact our service will have on communities,” he concludes.

Lora Helmin

Lora Helmin

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