Revolv, a San Francisco, CA-based provider of electric medium-to-heavy commercial fleets, raised $15M in Series A funding.
The round was led by Greenbacker Capital Management.
The company intends to use the funds to expand its operations across North America to support the demand for decarbonized commercial fleets with light, medium and heavy-duty trucks.
Led by CEO Scott Davidson, Revolv aims to enable commercial fleets to move quickly and confidently toward zero-emission solutions. Its single-partner solution enables them to deploy, charge, and integrate electric vehicles into operations, navigating the complexities of incentive regimes, charging infrastructure and financing, all while reducing the total cost of ownership.
Revolv offers a full-service development model that covers electric vehicles, facilities and installation and maintenance of on-site charging infrastructure. On behalf of its customers, the company selects the best vehicles based on expected routes and payloads, manages utility interconnection and builds scalable site infrastructure. After vehicles are operational, Revolv continues to work hand-in-hand with its customers to help drivers make the transition to electric, beginning the virtuous cycle of reducing costs and improving the driver experience.
The company is on track to deliver over 100 vehicles ranging from Class 2 through Class 8 by the end of 2023, with plans to scale and manage a fleet of vehicles in the thousands by the following years.
FinSMEs
22/03/2023