USA – Range Energy, a Mountain View, CA-based hardware company bringing trailers to the commercial trucking market, raised $23.5M in new funding.
The round was led by Trousdale Ventures, with participation from UP.Partners, R7, and Yamaha Motor Ventures. Today’s additional financing brings Range’s total funding to $31.5M inclusive of the company’s $8M seed financing.The company intends to use the funds to accelerate its work on customer pilot programs in parallel with advancing towards full-scale production of its electric powered trailers, which are essential to the decarbonization of commercial fleets under pressure to meet emerging emissions reduction targets. In addition, Range will invest resources towards the initial development of its new trailer data and telematics platform to bring insights to customers and further enhance the company’s technology portfolio. Led by CEO and founder Ali Javidan, Range Energy accelerates the electrification of commercial transportation via trailers for the truck market. With a solution that can hook up to any tow vehicle, its trailers offer offroad mobile power, and can ease the transition to electrification and meet its commercial partners’ immediate needs and long-term ambitions. 28/02/2024
