Total amount raised
$31.5 Million
Latest funding date
02/01/2024
Location
Range Energy has successfully raised funding through two rounds, with notable investors including UP Partners and Trousdale Ventures. The company is dedicated to accelerating the electrification of commercial transportation by providing powered trailers for the heavy-duty truck market.
Range Energy's innovative eTrailer system offers significant benefits such as a 50% reduction in fuel consumption and a 67% increase in MPG, making it a practical solution for fleet electrification. Keep reading to explore the intricacies of Range Energy's fundraising journey and the investors backing this transformative platform.
What Is Range Energy?
Range Energy, based in Mountain View, California, operates in the electric vehicle, manufacturing, and transportation industries. The company specializes in electrified trailer systems designed to reduce fuel consumption and improve safety.
Founded around 2025, Range Energy has an employee count ranging from 11 to 50. Their innovative eTrailer System offers significant benefits, including a 50% reduction in fuel consumption and a 67% increase in miles per gallon (MPG).
How Much Funding Has Range Energy Raised?
- Seed Round
- Amount Raised: USD 8,000,000
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and deployment of their electrified trailer systems.
- Series A
- Amount Raised: USD 23,500,000
- Date: February 2024
- Lead Investors: Trousdale Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate customer pilot programs, advance towards full-scale production, and invest in a new trailer data and telematics platform.
Total Amount Raised: USD 31,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- Trousdale Ventures
- Details: Trousdale Ventures is a prominent investment firm known for its strategic investments in innovative companies. They led the Series A funding round for Range Energy.
- Investment Focus Areas: Electric vehicles, transportation, technology.
- Notable Investments: Range Energy.
- UP.Partners
- Details: UP.Partners is a venture capital firm that invests in companies transforming the movement of people and goods. They participated in both the seed and Series A funding rounds for Range Energy.
- Investment Focus Areas: Mobility, transportation, technology.
- Notable Investments: Range Energy.
- R7
- Details: R7 is an investment firm that focuses on early-stage companies with high growth potential. They participated in the Series A funding round for Range Energy.
- Investment Focus Areas: Technology, startups, innovation.
- Notable Investments: Range Energy.
- Yamaha Motor Ventures
- Details: Yamaha Motor Ventures is the venture capital arm of Yamaha Motor Co., Ltd., focusing on investments in innovative technologies. They participated in the Series A funding round for Range Energy.
- Investment Focus Areas: Mobility, robotics, technology.
- Notable Investments: Range Energy.
What's Next for Range Energy?
Range Energy is poised to capitalize on the growing demand for decarbonized commercial fleets. With significant financial backing, the company is set to accelerate customer pilot programs and advance towards full-scale production of their electric-powered trailers. These trailers are essential for meeting emerging emissions reduction targets, offering a substantial market opportunity.
Future fundraising opportunities seem promising as Range Energy continues to develop its technology and expand its market reach. The company plans to invest in a new trailer data and telematics platform, which could attract further investment. However, challenges such as scaling production and integrating new technologies into existing fleets may arise.
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