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Energy Tech Series B Founded 2019

Evolectric

Evolectric is a provider of electric vehicle conversion kits and fleet electrification solutions, offering services for upgrading existing commercial vehicle fleets with electric vehicle technology. The company integrates smart technology, telematics software, and real-time diagnostics into converted vehicles, enabling fleet operators to transition from internal combustion engines to electric power without…

📍 Long Beach, United States · Electric Vehicles,

Funding snapshot

Last roundSeries B
Amount$15M
Date15 September 2023
Total raised$15M
Team size23

About

Evolectric is a provider of electric vehicle conversion kits and fleet electrification solutions, offering services for upgrading existing commercial vehicle fleets with electric vehicle technology. The company integrates smart technology, telematics software, and real-time diagnostics into converted vehicles, enabling fleet operators to transition from internal combustion engines to electric power without purchasing entirely new vehicles. Evolectric's approach encompasses the full electrification lifecycle, including vehicle conversion engineering, charging strategy development, and identification of financing and insurance solutions to make fleet electrification accessible and economically viable. By retrofitting existing vehicles rather than replacing them, Evolectric addresses the cost barrier that prevents many fleet operators from adopting electric vehicles, while extending the useful life of existing vehicle assets and reducing waste. The company's telematics and diagnostics capabilities provide fleet managers with real-time visibility into vehicle health, battery status, and operational performance, ensuring that converted vehicles maintain reliability and efficiency comparable to factory-built electric vehicles. Founded in 2019 and headquartered in Long Beach, United States, the company has raised $15.0M in Series B funding from investors including Seismic and Los Angeles Cleantech Incubator.

Business model

Electric Vehicles > Conversion Kits > Commercial Vehicles,

Energy Storage Tech > Charging > Devices > Plug In > Electric Vehicle > Multi-category

Institutional investors

Seismic Los Angeles Cleantech Incubator

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