eIQ Mobility Raises Seed Round

eIQ Mobility, Inc., a newly formed company dedicated to simplifying and accelerating the electrification of commercial and public fleets, today announced it has raised a seed round from Schneider Electric Ventures. The capital will accelerate eIQ Mobility's expansion, support the company's growth, and enable it to develop additional products to serve commercial OEMs, leasing companies and major U.S. fleets.

eIQ Mobility is led by its co-founder, Sila Kiliccote, who serves as CEO. Sila brings more than 15 years of electricity grid experience in areas such as demand response and vehicle-to-grid integration. Annette Clayton, CEO and President, North America Operations, Schneider Electric, oversees the largest operating region that in 2017 generated seven billion euro. Through December 2018 she also served as the Group's Chief Supply Chain Officer and led the 11 billion euro Global Supply Chain operation. Prior to her roles at Schneider Electric, Clayton served as vice president, Global Operations at Dell. From 1983 to 2006 she worked at General Motors Corporation in senior management roles, including president of Saturn.

"The traditional fleet planning and decision process is broken. It requires too many variables, making it tedious, time-consuming and difficult to optimize," said Sila Kiliccote, CEO and Co-Founder, eIQ Mobility. "We're working to remove the risk and complexity, through a data-driven platform that harnesses data from existing fleets, facilities, utilities and more to make fleet ownership a reality for those looking to make a change. Our goal is to provide zero-emissions mobility at zero risk."

The company is developing eIQ EValuate a powerful EV planning & analysis platform that leverages fleet, facility, grid, incentives and energy data to determine if and where fleets should consider electrifying their vehicles. And eIQ Power, a first-of-its-kind EV charging Infrastructure as a Service product for its fleet customers, that scales with the customer's fleet to de-risk the installation, support, and maintenance of converting a fleet to electric.

Heriberto Diarte, Head of Schneider Electric Ventures, the global external innovation and venture capital fund of Schneider Electric said "eIQ Mobility is an exciting investment. We deeply support their data analytics approach and infrastructure-as-a-service strategy. In the US alone, fleet vehicles drive 296 Billion miles a year, and their annual cost is more than $200 Billion. With 50,000+ fleets in the US, we see a huge growth opportunity for eIQ Mobility, and significant cost reduction and sustainability opportunities for their corporate clients. We have committed to leveraging eIQ products with our more than 4500 service technician and sales vehicles in the US to introduce more EVs into our U.S. fleet."

eIQ Mobility is currently working with several global OEMs, EV OEMs, Leasing Companies and major U.S. fleets to pilot its eIQ Power solution. eIQ Mobility was founded in 2018 by its four founders. eIQ Mobility is currently recruiting data scientists and software developers, and plans to significantly expand its employee base by the end of 2019.

"We believe a massive opportunity exists in fleet management. Technology is not what's limiting the broader adoption of EVs at a corporate-wide level. The challenge lies in the ownership model and we believe our data-driven approach fills a major need for corporations today," closed Kiliccote.

eIQ Mobility will be presenting at BloombergNEF's Future of Mobility Summit. For more information about eIQ Mobility and its solutions, please visit www.eiqmobility.com

About eIQ Mobility, Inc
eIQ Mobility, headquartered in Silicon Valley, enables the transformation to zero-emission mobility through optimized planning, delivery, and operation of electric mobility services at scale. Our goal is to completely de-risk fleet migration from internal combustion engines to electric vehicles. Zero-Emissions Mobility. Zero-Risk. For more information, please visit www.eiqmobility.com