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Nevoya's $9.3M Bet on AI-powered electric trucks
Nevoya's $9.3M Bet on AI-powered electric trucks

Yahoo

time4 days ago

  • Automotive
  • Yahoo

Nevoya's $9.3M Bet on AI-powered electric trucks

Nevoya, an all-electric trucking company, has secured $9.3 million in seed financing led by Lowercarbon Capital, with participation from Floating Point, LMNT Ventures, and existing investors Third Sphere, Stepchange, and Never Lift. The San Francisco-based company recently announced the funding as it looks to position itself to redefine logistics through AI and workflow automation. The investment comes as the global electric truck market is projected to reach $125 billion by 2030. For Nevoya, it looks to demonstrate that zero-emissions trucking can outperform traditional diesel operations both environmentally and economically. 'We don't just move freight—we embed ourselves in our customers' operations, uncovering insights that others miss,' said Sami Khan, co-founder and CEO of Nevoya, in the release. 'This customer-centric approach drives our technology development, ensuring the transition to zero-emissions trucking is seamless.' Nevoya uses a proprietary AI-powered Transportation Management System (TMS) to turn the complexity of zero-emissions trucking into a competitive advantage. Part of this comes through intelligent orchestration, predictive operations, real-time visibility, and continuous optimization. Unlike traditional carriers that retrofit electric vehicles (EVs) into existing operations, Nevoya was built from the ground up for EV operations. 'Nevoya is an AI-orchestrated, electric-first freight carrier that's already outperforming legacy diesel trucking economics, and we're betting they'll scale faster too,' said Shawn Xu, partner at Lowercarbon Capital, in the release. Nevoya plans to use the funding to accelerate expansion into new freight corridors and markets, enhance its TMS platform, accelerate partnerships with industry leaders, and scale its team across sales, customer success, engineering, and operations. The company notes that in just six months, it has onboarded Fortune 500 customers and leading 3PLs, as it looks to demonstrate that zero-emissions freight can be cost-competitive while at the same time delivering superior and reliable service. Kodiak Robotics appoints former Cruise executive Mo Elshenawy to board of directors Kodiak Robotics, a provider of AI-powered autonomous vehicle technology, recently announced the appointment of Mohamed 'Mo' Elshenawy to its board of directors. Elshenawy, who previously served as president and chief technology officer at Cruise LLC, brings more than two decades of experience in AI, product development and engineering across autonomous mobility, e-commerce, cloud infrastructure and healthcare sectors. The appointment comes as Kodiak prepares to become a publicly listed company through a business combination with Ares Acquisition Corporation II. The deal is expected to close in the second half of 2025. 'Mo guided Cruise through critical phases of technology and operational development, and helped manage Cruise's integration into a wholly-owned subsidiary of General Motors,' said Don Burnette, founder and CEO of Kodiak, in a press release. 'His expertise in technology platform transformation, expanding world-class engineering organizations, and deploying AI into real-world operations will be invaluable as we scale our product deployment.' While at Cruise, Elshenawy led the transformation of the company's autonomous vehicle programs, launching and scaling the first commercial driverless rideshare service in San Francisco and expanding operations to multiple U.S. cities. He currently serves as chief technology officer at Hims & Hers Health, Inc., where he focuses on building a next-generation healthcare platform powered by AI. 'Kodiak has a deep history of the kind of focused, pragmatic innovation that's needed to bring autonomous trucking to scale,' said Elshenawy. 'I'm excited to support such an innovative company as they advance a category-defining platform built on safety, performance, and real-world impact.' Elshenawy joins recent board additions Ken Goldman, a seasoned financial executive, and Kristin Sverchek, president of Lyft, as Kodiak strengthens its leadership team. Upon completion of the business combination, the company will be renamed Kodiak AI, Inc. You're halfway there! To read the rest of the Truck Tech newsletter, subscribe below. It'll be delivered to your inbox every Friday at 11am eastern. While you're at it, check out this week's episode. The post Nevoya's $9.3M Bet on AI-powered electric trucks appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Nevoya raises $9.3M as its EV truck fleet reaches cost parity with diesel
Nevoya raises $9.3M as its EV truck fleet reaches cost parity with diesel

Yahoo

time22-07-2025

  • Automotive
  • Yahoo

Nevoya raises $9.3M as its EV truck fleet reaches cost parity with diesel

Los Angeles-based Nevoya came out of stealth last year with the ambitious goal of breaking the EV truck adoption logjam. Nevoya made enough progress on its goal to attract investors — and a $9.3 million seed round — to help it move even faster. The young company, which buys electric trucks and offers them to shippers, is now carrying goods for 10 different Fortune 500 companies. More importantly, it's offering services as a carrier to those companies in California at cost parity with similar-sized diesel trucks. It's a noteworthy accomplishment, especially at a time of increasing anti-EV headwinds – fueled by an administration that has publicly criticized green energy. Founder Sami Khan is unfazed. The idea of lowering carbon emissions is still attractive to the Fortune 500s, Khan told TechCrunch. Khan said he also believes Nevoya is just running a much faster, leaner, and better carrier business than legacy operators – in large part by leveraging AI. Nevoya applies AI to optimize trucking routes, and matching and balancing loads with the right trucks to maximize efficiency while minimizing energy consumption. The company also uses AI to help sort out charging schedules and battery management. 'When we started running the trucking business,' Khan said, 'we looked at what [everybody was] doing, and we meticulously looked at every minute-by-minute of what was going on. We came to the conclusion that 90% of what was going on could be automated or semi-automated.' Khan said Nevoya's automation has been getting information to drivers faster, with fewer mistakes than humans would make. He also said that leveraging AI is not replacing dispatchers, but rather freeing them up to better communicate with Nevoya's customers. The 'go big' funding conundrum Khan expects to keep growing this model thanks to Nevoya's new seed round – a fundraising effort that was initially much more conservative. Late last year, with a pre-seed round in the rear view mirror, and some early traction building Nevoya's all-electric trucking fleet, Khan found himself weighing options for how to grow his company: Do an inside round with existing investors? Or go bigger? That's when Khan spoke with Shawn Xu from Lowercarbon Capital. Xu had introduced Khan and co-founder John Verdon (the former business development head of Waymo) and had followed Nevoya closely, but had not yet invested. Xu's message was clear: go for it. '[Xu] basically said, like, no, no, no, do a big round now. We're going to lead it, and we're going to run with it,' Khan said. 'It was, really validating, frankly, to have an investor that in the first round said 'we're going to sit on the sidelines,' then come in and preempt the next round.' Lowercarbon ended up leading Nevoya's $9.3M seed round, which just closed, Khan told TechCrunch in an exclusive interview. Floating Point and LMNT Ventures also joined, along with existing investors Third Sphere, Stepchange, and Never Lift. Qasar Younis, the founder and CEO of buzzy self-driving AI company Applied Intuition, also invested. That funding will go towards expanding Nevoya beyond California into new states like Texas. The company is already hauling freight in Houston and Dallas. A Texas expansion That will help Nevoya generate more revenue, though Khan was quick to point out that there is a lot of work to be done in these new markets before they can also reach cost parity with diesel trucks. He also said Nevoya has to be more creative with how it manages its fleets in places like Texas because there is less charging infrastructure. That involves workarounds like charging the trucks overnight at stations typically meant for passenger vehicles, or at school bus depots when the chargers aren't in use. Khan framed this as a win-win. These locations get extra revenue during off-peak hours, and Nevoya gets to expand quickly with lower up-front cost. He said the plan is to ultimately invest in building out more dedicated charging infrastructure. To manage this expansion, Khan said Nevoya is leaning on the same model that companies like Uber used as it entered new locations. Nevoya is hiring general managers that will run their own locations like a startup-within-a-startup. 'That kind of competitive element of pitting these incredibly smart, talented general managers against each other is really, really effective in driving that next level of performance for the business,' he said. Xu said he initially held back from investing in Nevoya because he wanted the company to prove it could hit that cost parity with diesel. 'We want to understand the appetite and validation from the market,' he remembered thinking. But, he said, he also felt that 'a business like this must exist.' As Xu saw Nevoya progressing, he remembered saying to Khan: 'what would it look like if you actually raised a lot more than you were expecting to raise?' The two spoke about using more artificial intelligence to optimize their fleet management, while also keeping an eye on an autonomous future (hence the inclusion of Applied Intuition's Younis in the round). 'They're getting lower cost per mile. They're getting lower maintenance costs. The AI orchestration for efficiency on the route optimization is starting to bear fruit,' he said. 'So yeah, we ended up raising a much larger round that ended up being even more oversubscribed than we had expected. And now we're off to the races.'

Nevoya raises $9.3M as its EV truck fleet reaches cost parity with diesel
Nevoya raises $9.3M as its EV truck fleet reaches cost parity with diesel

TechCrunch

time22-07-2025

  • Automotive
  • TechCrunch

Nevoya raises $9.3M as its EV truck fleet reaches cost parity with diesel

Los Angeles-based Nevoya came out of stealth last year with the ambitious goal of breaking the EV truck adoption logjam. Nevoya made enough progress on its goal to attract investors — and a $9.3 million seed round — to help it move even faster. The young company, which buys electric trucks and offers them to shippers, is now carrying goods for 10 different Fortune 500 companies. More importantly, it's offering services as a carrier to those companies in California at cost parity with similar-sized diesel trucks. It's a noteworthy accomplishment, especially at a time of increasing anti-EV headwinds – fueled by an administration that has publicly criticized green energy. Founder Sami Khan is unfazed. The idea of lowering carbon emissions is still attractive to the Fortune 500s, Khan told TechCrunch. Khan said he also believes Nevoya is just running a much faster, leaner, and better carrier business than legacy operators – in large part by leveraging AI. Nevoya applies AI to optimize trucking routes, and matching and balancing loads with the right trucks to maximize efficiency while minimizing energy consumption. The company also uses AI to help sort out charging schedules and battery management. 'When we started running the trucking business,' Khan said, 'we looked at what [everybody was] doing, and we meticulously looked at every minute-by-minute of what was going on. We came to the conclusion that 90% of what was going on could be automated or semi-automated.' Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW Khan said Nevoya's automation has been getting information to drivers faster, with fewer mistakes than humans would make. He also said that leveraging AI is not replacing dispatchers, but rather freeing them up to better communicate with Nevoya's customers. The 'go big' funding conundrum Khan expects to keep growing this model thanks to Nevoya's new seed round – a fundraising effort that was initially much more conservative. Late last year, with a pre-seed round in the rear view mirror, and some early traction building Nevoya's all-electric trucking fleet, Khan found himself weighing options for how to grow his company: Do an inside round with existing investors? Or go bigger? That's when Khan spoke with Shawn Xu from Lowercarbon Capital. Xu had introduced Khan and co-founder John Verdon (the former business development head of Waymo) and had followed Nevoya closely, but had not yet invested. Xu's message was clear: go for it. '[Xu] basically said, like, no, no, no, do a big round now. We're going to lead it, and we're going to run with it,' Khan said. 'It was, really validating, frankly, to have an investor that in the first round said 'we're going to sit on the sidelines,' then come in and preempt the next round.' Lowercarbon ended up leading Nevoya's $9.3M seed round, which just closed, Khan told TechCrunch in an exclusive interview. Floating Point and LMNT Ventures also joined, along with existing investors Third Sphere, Stepchange, and Never Lift. Qasar Younis, the founder and CEO of buzzy self-driving AI company Applied Intuition, also invested. That funding will go towards expanding Nevoya beyond California into new states like Texas. The company is already hauling freight in Houston and Dallas. A Texas expansion That will help Nevoya generate more revenue, though Khan was quick to point out that there is a lot of work to be done in these new markets before they can also reach cost parity with diesel trucks. He also said Nevoya has to be more creative with how it manages its fleets in places like Texas because there is less charging infrastructure. That involves workarounds like charging the trucks overnight at stations typically meant for passenger vehicles, or at school bus depots when the chargers aren't in use. Khan framed this as a win-win. These locations get extra revenue during off-peak hours, and Nevoya gets to expand quickly with lower up-front cost. He said the plan is to ultimately invest in building out more dedicated charging infrastructure. To manage this expansion, Khan said Nevoya is leaning on the same model that companies like Uber used as it entered new locations. Nevoya is hiring general managers that will run their own locations like a startup-within-a-startup. 'That kind of competitive element of pitting these incredibly smart, talented general managers against each other is really, really effective in driving that next level of performance for the business,' he said. Xu said he initially held back from investing in Nevoya because he wanted the company to prove it could hit that cost parity with diesel. 'We want to understand the appetite and validation from the market,' he remembered thinking. But, he said, he also felt that 'a business like this must exist.' As Xu saw Nevoya progressing, he remembered saying to Khan: 'what would it look like if you actually raised a lot more than you were expecting to raise?' The two spoke about using more artificial intelligence to optimize their fleet management, while also keeping an eye on an autonomous future (hence the inclusion of Applied Intuition's Younis in the round). 'They're getting lower cost per mile. They're getting lower maintenance costs. The AI orchestration for efficiency on the route optimization is starting to bear fruit,' he said. 'So yeah, we ended up raising a much larger round that ended up being even more oversubscribed than we had expected. And now we're off to the races.'

Greenlane Opens Flagship Charging Hub in SoCal, Advancing Zero-Emission Freight on I-15
Greenlane Opens Flagship Charging Hub in SoCal, Advancing Zero-Emission Freight on I-15

Business Wire

time24-04-2025

  • Automotive
  • Business Wire

Greenlane Opens Flagship Charging Hub in SoCal, Advancing Zero-Emission Freight on I-15

COLTON, Calif.--(BUSINESS WIRE)--To support public commercial EV charging infrastructure and fleet electrification, Greenlane has opened its inaugural advanced charging site in Colton, California, and secured its first commercial fleet customer, Nevoya, the first zero-emissions electric trucking carrier and technology-driven logistics platform in the U.S. The flagship facility, located at the intersection of Interstates 215 and 10, was completed just eight months after breaking ground, thanks to effective collaboration between public and private sector partners. It features over 40 high-speed chargers and a comfortable amenities lounge to accommodate truck drivers transporting vital goods throughout the region. The site is the first of several planned for the company's I-15 commercial EV charging corridor. Greenlane plans to expand its network with future sites expected roughly every 60 to 90 miles in Long Beach, Barstow, and Baker, CA, pending site viability assessments and evolving needs. As Greenlane's first commercial fleet customer, Nevoya will begin operating a fleet of electric trucks out of the Colton site in early May 2025, utilizing charging infrastructure and on-site office space. The two companies plan to scale the partnership to include up to 100 of Nevoya's electric trucks, leveraging Greenlane's charging network as part of a broader collaboration to further advance sustainable freight solutions. "At Nevoya, we're committed to driving maximal efficiency and ease for our fleet and drivers, making Greenlane a natural partner as they lead the way for a national network of ZEV fleet refueling infrastructure,' said Sami Khan, co-founder and CEO of Nevoya. 'We are honored to be the first to establish operations at the Colton site and excited to join forces with Greenlane to make switching to electric trucks scalable, cost-effective, and inevitable. Together, we have an opportunity to make strides in electrifying America's supply chains.' Cutting-edge infrastructure and technology were used at the Colton site to support the critical freight route along I-15, including 41 OEM-agnostic chargers with 12 pull-through lanes featuring CCS 400 kilowatt (kW) dual-port chargers with liquid-cooled cables designed to accommodate large Class 8 electric trucks. In addition, 29 bobtail lanes feature CCS 180 kW chargers, offering intelligent energy management for optimized fleet operations. The site is also engineered with precast cable trenching, allowing for future equipment expansion and upgrades to megawatt charging as fleet demand grows. In addition to charging technology, Colton offers a range of driver-focused amenities, including a spacious lounge with food and beverage options, a water refill station, and restrooms. The facility provides free Wi-Fi, mobile device charging stations, and 24/7 customer support. Additional security measures include round-the-clock on-site attendants, security cameras, gated access, and enhanced lighting. To further support the broader transportation industry, the site also provides the ability to lease office space and truck and trailer parking, offering fleets a safe and convenient place to work and park overnight. "America's trucking industry keeps our economy moving, and we are committed to supporting the drivers at the heart of it,' said Patrick Macdonald-King, CEO of Greenlane. 'Opening the Colton site and bringing on a top-tier partner like Nevoya in the same week is awesome, but it also reinforces that investment in high-traffic freight corridors helps drive economic growth by supporting local businesses through increased traffic and creating quality job opportunities for municipalities that have sought this growth for years. By ensuring truckers have access to reliable, high-speed charging when and where they need it, our team is helping electrify the backbone of American commerce.' Earlier today, a ribbon cutting took place to commemorate the official opening of the Colton location. The ceremony included speeches from Greenlane's CEO, Patrick Macdonald-King; City of Colton Mayor Frank J. Navarro; South Coast Air Quality Management District Board representative and Mayor of Highland, Larry McCallon; Daimler Truck North America's Vice President and Chief of eMobility, Rakesh Aneja; and Nevoya's Chief Commercial Officer, John Verdon. The development of the Colton charging site was made possible in part by a $15 million grant from the South Coast Air Quality Management District under the Carl Moyer Zero-Emission Infrastructure Program. To learn more about Greenlane's charging corridor and technology ecosystem, including an app, fleet portal, and much more, visit or visit the Colton Greenlane Center™ at 1650 Fairway Drive in Colton, CA. About Greenlane Greenlane Infrastructure, LLC is a joint venture between Daimler Truck North America, LLC (DTNA), NextEra Energy Resources, LLC and Global Infrastructure Partners (GIP), a part of BlackRock. Greenlane's mission is to design, develop, install and operate a nationwide, high-performance, zero-emission public charging and hydrogen refueling network for medium- and heavy-duty battery-electric and hydrogen fuel cell commercial vehicles. Greenlane addresses the urgent need for publicly available, nationwide electric charging infrastructure for commercial vehicles, especially for long-haul freight operations, and is a critical step toward the development of a sustainable zero-emission vehicle ecosystem across North America. For more, visit About Nevoya Nevoya is the first zero-emissions electric trucking carrier and technology-driven logistics platform in the U.S. Its proprietary software optimizes vehicle utilization, routes, and charging costs—proving that electric trucks can be cost-competitive with diesel. By prioritizing efficiency and sustainability, Nevoya is transforming EV freight into a cleaner, more cost-effective industry standard. Learn more at

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