San Francisco, USA-based electric medium-to-heavy commercial fleets provider, Revolv raised USD 15 million in Series A funding. The round took place on March 21, 2023. Affiliated fund of Greenbacker Capital Management LLC (“Greenbacker”) led the financing for the company. 

Purpose of financing for Revolv

With the proceeds from the Series A round, Revolv seeks to expand its operations across North America. It plans to support the growing demand for decarbonized commercial fleets with light, medium as well as heavy-duty trucks

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Meanwhile, the company is on track to deliver more than 100 vehicles ranging from Class 2 through Class 8 by the end of 2023. It also intends to scale and manage a fleet of vehicles in the thousands by the following years.

What the company’s official has to say 

Revolv CEO Scott Davidson said, “Businesses seeking to decarbonize their fleets are facing several challenges: an unpredictable supply chain, rapidly changing technology, complex regulatory regimes and infrastructure upgrades, amongst other logistical impediments. Revolv’s approach to activating businesses to decarbonize their fleets is to meet customers wherever they operate, providing our customers with single partner solutions to future-proof their business.”

What the investor has to say

Ben Baker, Managing Director of Greenbacker, said, “We have seen outsized interest and rapid development within the space, and after an extensive search, Greenbacker is proud to enter the zero-emission transportation sector with a company as transformative as Revolv. In a crowded market, Revolv is well positioned to offer a truly comprehensive yet simple solution to its customers, easing the pain points of what could otherwise prove fatal to a company’s decarbonization ambitions.”

About the company 

Scott Davidson 2019 launched the company. Revolv offers a full-service development model covering electric vehicles, facilities and installation, as well as maintenance of on-site charging infrastructure. On behalf of its customers, Revolv selects the best vehicles based on expected routes and payloads, manages utility interconnection and builds scalable site infrastructure. Following the vehicle’s operations, Revolv further works 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’s mission is to support the day-to-day needs of commercial businesses. Revolv brings a critical development-focused mindset shaped by decades of cross-functional expertise in energy development, fleet management and fleet operations. It empowers fleets to accelerate zero-emission adoption without losing focus on their core business or operations. 

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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