Thursday, November 12, 2020

Envoy Picks Up $11M For On Demand Electric Vehicle Access

Los Angeles-based Envoy, which operates a service which makes on-demand electric vehicles available as an amenity at apartments, hotels, and workplaces, has raised $11M in a Series A funding round. The funding was led by Shell Ventures and Building Ventures, and also included DENSO, Goodyear Ventures, GroundBreak Ventures, and the Los Angeles Cleantech Incubator Impact Fund. In addition to the equity funding, the company also said it raised $70 million in a strategic vehicle financing facility which came from Macquarie Specialized and Asset Finance. Envoy's service parks electric vehicles on properties at a dedicated parking space, which can be reserved by residents of those locations through its mobile app, or requested on-demand. Envoy was co-foudned and is led by CEO Aric Ohana. The companys ays it has already deployed more than 200 electric vehicles at more than 100 properties across the United States.