“The transportation sector faces significant challenges as the global demand for mobility and logistics continues to grow. With more than 25% of greenhouse gas emissions coming from this sector and additional negative externalities such as congestion and the significant usage of physical space, there is a lot of pressure to rapidly change the way we move people and goods,” says Jens-Philipp Klein, general partner at Rethink. “Our mission is to back early-stage startups that address these challenges and help them scale their technologies and products using our capital, deep expertise and access to a strong network of corporates. Together with all stakeholders in the industry, we aim to foster solutions that eventually will provide clean, digital and safe mobility for everyone.”

The fund says that its top priority is to provide unparalleled support to its portfolio companies while adding long-term value to their corporate partners, creating a mutually beneficial ecosystem that creates a positive impact for all.

The fund’s thesis-driven investment focus is on next-generation vehicle technologies (software defined, autonomously operated, new powertrains), mobility (providing comfortable, safe and affordable mobility for everyone), logistics (digital, automated and sustainable operations) and energy (infrastructure to power a clean, emission-free future of transportation).

The new fund has made three investments to date: Deftpower, an automotive charging platform that enables companies to launch, manage and scale electric charging offerings to their customers; Shipzero, a data-driven platform to measure and reduce CO2 emissions in global freight transportation; and Rydes, a SaaS solution for corporations to foster sustainable employee mobility by giving their employees access to various transport offerings.