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2020 was marked by a huge surge in SPACs, and the mobility tech industry was among those along for the ride. Last year, 26 companies in the sector merged or began the process of merging with a blank-check company, for a combined valuation of over $100 billion.
The wave of mobility SPACs underscores the exit potential for venture-backed companies, and it's likely to drive capital back to early-stage startups that have lost out due to the pandemic, according to our Q4 2020 Emerging Tech Research report on mobility tech. Other highlights include:
- VCs poured $10.5 billion into mobility tech companies in Q4, a drop of 7.5% compared to Q4 2019, though the annual investment total remained nearly flat
- The flurry of SPAC debuts has validated the path to exit for mobility companies, while a 31.6% drop in median early-stage valuations presents opportunities to invest
- Emerging areas such as autonomous driving, micromobility and electric air taxis are poised to shepherd in future investment dollars