Smart Valuation, Funding & Investors

Smart is valued at $5.3B as of September 2023.

See full Smart profile

Last Smart valuation

$5.3B

Strategic investment · Sep 2023

Last Smart funding round

$150M

Strategic investment · Sep 2023

Cumulative funding Smart raised

$150M

across 1 funding round

Key investors in Smart

Smart Overview

About Smart

Smart is an automotive brand producing compact urban vehicles under a joint venture between Mercedes-Benz Group and Geely, with manufacturing in Hambach, France, and Bovisio-Masciago, Italy. The company offers the smart fortwo coupe, cabriolet, and forfour models, enhanced by BRABUS tuning packages that boost engine output to 109 horsepower from the standard 91-horsepower rear-mounted electric or gasoline powertrains. BRABUS variants feature 18-inch alloy wheels, lowered sports suspension, and exclusive leather interiors in the Xclusive trim. Launched in 1998, Smart vehicles emphasize rear-engine layout for tight parking maneuvers and city navigation across Europe, North America, and Asia.


Founded

1994

HQ

GermanyStuttgart

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$5.3B (Sep 2023)

Smart Valuation

Smart is currently valued at $5.3B, based on its strategic investment round in September 2023.

The $150M round was led by Tianqi Lithium.

Smart valuation by funding round

Smart valuation by funding round
DateStageValuation
Sep 2023Strategic investment$5.3B

Smart Funding History

Smart has raised a total of $150M across 1 funding round.

Smart funding rounds

Smart funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2023Strategic investmentTianqi Lithium (lead)$150M$5.3BSmart is an electric vehicle joint venture between Mercedes-Benz and Geely Automobile Holdings, established in 2020 to develop premium compact EVs. Its models include the smart #1 coupe SUV launched in China, Germany, and France, and the smart #3 which entered the Chinese market in June 2023 with European rollout planned for early 2024. In the first half of 2023, Smart delivered 23,540 units in China, securing a leading position in its segment, while European deliveries began ramping up from March. Tianqi Lithium, a major Chinese lithium producer, led Smart's Series A funding round announced in July 2023, planning to raise $250-300 million total. Tianqi invested $150 million for a 2.83% stake, implying a post-money valuation of $5.3 billion for Smart. The deal closed around September 13-14, 2023, as confirmed by multiple announcements, with Mercedes-Benz's stake adjusting to 43.397% and Geely-related entities at 39.057% and 4.340%. The investment supports Smart's global expansion and long-term sustainable development, accelerating business operations amid its Series A pursuit. Beyond financing, it fosters upstream-downstream synergy in the new energy chain, with Tianqi gaining downstream exposure for the first time. Concurrently, Tianqi signed strategic agreements with Geely and Mercedes-Benz on lithium battery tech, materials, and software development to promote industry integration. Smart's parents, Mercedes-Benz and Geely, endorsed the fundraising while retaining equal control as major shareholders. The partnership aligns with Tianqi's vertical integration strategy, leveraging its Greenbushes lithium mine and production capacities.

Who has invested in Smart?

1 investor has backed Smart across its funding rounds, including Tianqi Lithium.

Lead investors include Tianqi Lithium.


Smart Investors

Investors in Smart by funding rounds participated
InvestorHQRoundsRoleFirst check

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Smart Competitors

Smart competitors include listed companies like XPENG and Tata Motors Passenger Vehicles, and private ones like Zhiji Auto, Hozon, ENOVATE Motors and Youxia Motors.

Public and private companies comparable to Smart
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Zhiji AutoChinaShanghaiPrivate--$4.3B-
HozonChinaShanghaiPrivate$831M-$4B4.8x
ENOVATE MotorsChinaShanghaiPrivate--$3.8B-
Youxia MotorsChinaShanghaiPrivate--$3.4B-
XPENGChinaChinaPublicly listed$11B$156M$10B1.0x
Tata Motors Passenger VehiclesIndiaIndiaPublicly listed$35B$2B$12B0.4x

Smart Public Comps

Smart is still privately-owned, but its public comps include Ford Otosan, Volvo Cars, BETA Technologies, Mazda, Joby Aviation, Iveco Group, BAIC BluePark New Energy, Ninebot, Guangzhou Automobile Group and Archer Aviation.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Ford Otosan$17B$1.3B0.5x0.4x5.8x6.5x
Volvo Cars$36B$2.4B0.1x0.1x2.2x1.6x
BETA Technologies$36M($730M)101.5x82.7x(5.0x)(9.2x)
Mazda$31B$1B0.1x0.1x2.0x1.5x
Joby Aviation$53M($932M)85.5x44.7x(4.9x)(6.4x)
Iveco Group$15B$1.6B0.6x0.5x5.2x5.3x
BAIC BluePark New Energy$4.2B($501M)1.0x0.7x(8.7x)(22.1x)
Ninebot$3.2B$335M0.8x0.7x7.9x7.2x

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Common questions about Smart

When was Smart founded?Smart was founded in 1994.
Where is Smart headquartered?Smart is headquartered in Stuttgart, Germany.
Is Smart publicly listed?No, Smart is a private, VC-backed company.
What is Smart's valuation?Smart was last valued at $5.3B in its strategic investment round in September 2023.
How much funding has Smart raised?Smart has raised $150M across 1 funding round.
What was Smart's last funding round?Smart's last funding round was a $150M strategic investment round in September 2023, led by Tianqi Lithium.
Who are Smart's investors?Smart's investors include Tianqi Lithium.
Which companies are comparable to Smart?Companies comparable to Smart include Zhiji Auto, Hozon, ENOVATE Motors, Youxia Motors, XPENG and Tata Motors Passenger Vehicles.

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