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Top Mobility & Transportation Startups to Watch (and Work for) in 2023

July 14, 2023
      |      Kieran Ryan
two convoy trucks driving on a bridge with a beautiful background

My Background

Hi, I'm Kieran! I worked in startups for five years at On Deck and Wefunder. Some of my favorite things that I've worked on during my career include:

  • Wefunder Workaway: 12 founders working on a new idea, 7 days, 1 mansion in Hawaii. One of the teams we picked raised a Series A from Andreessen Horowitz, and two people who met during the trip got married...
  • On Deck: As employee #15, I contributed to the startup's growth from no revenue to a $20 million run rate in less than a year. I led the team that built the admission infrastructure to support and scale ~20 fellowships for founders, capital allocators, operators, and creators.
  • XX: Worked on a pre-YC accelerator program that invested $125K on an MFN SAFE into 8-10 teams per cohort.
  • ODX: Worked on a $100 million accelerator program that invested $125K for 7% into 100s of startups. We partnered with leaders like Flexport to build vertical industry tracks around supply chain & logistics, etc.
  • Ryan Marketing: Created an influencer marketing startup (2 million+ Instagram followers) during college with my twin brother and realized early that monetization for creators was broken. I learned a lot, and it paid enough to cover my schooling, rent, and meals.

The Methodology

I considered several data points to arrive at the startups selected on this list, including company traction, funding raised, valuation, and investors. From my initial list, I then referenced each startup with my personal network to narrow down the list to the one you see below. I take my credibility seriously, so I do not take any money from startups who want to be included on this list to remain impartial. If you want to understand my analysis of startups and prefer long-form content, read my research on the top startups of 2023 afterward.

Convoy Logo

Convoy

The leading digital freight network.

Headquarters

Seattle, Washington

Industry

Mobility & Transportation

Founded

2015

Funding

$1.1 billion

Valuation

$3.8 billion

Traction

  • As of June 2023, Convoy reported that its network has seen 16% fewer crashes than the industry, and 99.95% of loads get delivered without a cargo claim.
  • As of June 2023, Convoy has a nationwide network of 400,000 dry vans and reefer trucks.
  • Convoy customers include The Home Depot, Procter & Gamble, Unilever, Dollar Shave Club, Dollar General, Land O’Lakes, LG Electronics, and Anheuser-Busch.
  • As of April 2022, Convoy has leased 3,000 trailers and was on pace for $1 billion in revenue.
The Boring Company Logo

The Boring Company

The Boring Company creates safe, fast-to-dig, and low-cost transportation, utility, and freight tunnels.

Headquarters

Bastrop, Texas

Industry

Mobility & Transportation, Hardware

Founded

2016

Funding

$913 million

Valuation

$5.675 billion

Traction

  • The Boring Company completed the R&D Tunnel, a tunnel located in Hawthorne, California, in December 2018.
  • The Boring Company completed LVCC Loop, a tunnel with a capacity for 4,500 passengers per hour connecting the Las Vegas Convention Center, in April 2021.
Green, yellow, blue letter "Z" on white background

Zum

Student transportation for school districts.

Headquarters

Redwood City, California

Industry

Mobility & Transportation

Founded

2014

Funding

$201 million

Valuation

~$930 million

Traction

  • As of May 2023, Zum has completed 1 million rides.
  • In October 2021, Zum surpassed 4,000 customers made up of schools and districts.
  • As of May 2023, Zum services five areas: San Francisco, Los Angeles, Dallas, Chicago, and Seattle. Zum plans to launch in Orange County, Phoenix, Portland, Sacramento, New York City, Washington DC, San Diego, and Miami.
  • Zum customers include Garvey School District, Marin Catholic, Duarte Unified School District, Oakland Unified School District, San Francisco Public Schools, Newark Unified School District, and Arlington Independent School District.
AtoB Logo

AtoB

Fuel cards, fleet gas cards, and fleet card management.

Headquarters

San Francisco, California

Industry

Mobility & Transportation, SaaS

Founded

2019

Funding

$182 million

Valuation

$800 million

Traction

  • Expected revenue for 2022 was over $20 million, up from $2 million in 2021.
  • 25,000 trucking companies and commercial drivers use AtoB. AtoB’s customers include Uber Freight, Thumbtack, Infinity Energy, Kyte, and uShip.
  • On average, the AtoB fuel card saves customers 43 cents per gallon.

Bolt Logo

Bolt

A European mobility platform.

Headquarters

Tallinn, Harjumaa, Estonia

Industry

Mobility & Transportation, Hardware

Founded

2013

Funding

$2 billion

Valuation

$8.4 billion

Traction

  • Bolt serves 100 million+ customers in 45 countries across 400 cities in Europe and Africa.
  • Bolt has 3.1 million drivers and couriers.
  • In 2020, Bolt’s revenue increased by 75% to 221.4 million euros.
Remora Logo

Remora

Carbon capture for semi-trucks.

Headquarters

Wixom, Michigan

Industry

Climate, Mobility & Transportation, Hardware

Founded

2020

Funding

$5.5 million

Valuation

Undisclosed

Traction

  • As of May 2023, Remora claims its technology captures 80% of semi-truck CO2 emissions directly from the tailpipe and a 3.5-year payback from CO2 revenue.
  • Remora’s bolt-on technology has passed 26,000 hours worth of tests.
Cowboy Logo

Cowboy

Electric bike.

Headquarters

Brussels, Belgium

Industry

Mobility & Transportation, Hardware

Founded

2017

Funding

$149.2 million

Valuation

Undisclosed

Traction

  • As of June 2023, Cowboy has rated 3.5/5 stars from 1,588 reviews on Trustpilot.
  • As of March 2023, Cowboy has sold 50,000+ bikes.
  • In 2022, Cowboy reported 41 million euros in revenue, and sales grew by 2.7x over the previous year.
Fetii Logo

Fetii

On-demand group rideshare.

Headquarters

Austin, Texas

Industry

Mobility & Transportation

Founded

2020

Funding

Undisclosed

Valuation

Undisclosed

Traction

  • As of July 2023, Fetii has transported 800,000+ passengers.
  • As of July 2023, Fetii has rated 4.4/5 stars from 249 Apple App Store reviews and 3.3/5 stars from 18 Google Play Store reviews.
zingbus Logo

zingbus

Platform for bus travel.

Headquarters

Gurugram, Haryana, India

Industry

Travel, Mobility & Transportation

Founded

2019

Funding

$6 million

Valuation

Undisclosed

Traction

  • As of July 2023, zingbus has transported two million+ customers.
  • As of July 2023, zingbus has connected 500+ cities in 17 states, up from 100 in July 2021.
  • As of July 2023, zingbus has a fleet of 350 buses.
River Logo

River

The SUV of scooters.

Headquarters

Bengaluru, Karnataka, India

Industry

Mobility & Transportation

Founded

2020

Funding

$28.1 million

Valuation

Undisclosed

Traction

  • As of June 2023, River claims its scooters have a 10x lower operating cost than gas-burning scooters in India.
  • As of October 2021, River can produce ~3,000 scooters monthly from its small-scale manufacturing facilities.
Zendrive Logo

Zendrive

Mobility safety technology.

Headquarters

San Francisco, California

Industry

Data, Mobility & Transportation

Founded

2013

Funding

$57 million

Valuation

Undisclosed

Traction

  • As of May 2023, Zendrive has 200 billion miles of driving data from 60 million drivers.
  • As of May 2023, Zendrive has 100,000+ collisions detected, 100 million users reached, and 15 patents approved, with 24 patents pending.
  • Zendrive customers include Credit Karma, Ituran, DSG Group, MiWay Blink, and Undo.
Vinli Logo

Vinli

Mobility intelligence products for fleets and insurance companies.

Headquarters

Dallas, Texas

Industry

Hardware, Mobility & Transportation

Founded

2014

Funding

$20 million

Valuation

Undisclosed

Traction

  • In 2016, Vinli was named the largest automotive app ecosystem by Forst & Sullivan.

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