HummingbirdEV to accelerate its commercial EV growth

California-based startup secures $6 million in initial Series A funding

HummingbirdEV, a global provider of commercial vehicle electrification systems, announced that it is entering a new phase of business growth with its zero-emissions technology. After integrating its products and technology into more than 500 commercial vehicles and securing initial funding for its Series A investment round, the company said it is now focused on strategically accelerating mass commercialization of its technology.

This expansion of its business, including increased hiring, new sales and marketing efforts, and the expedited roll-out of multiple next-generation product development programs, is already underway.

Battery electric (Photo: HummingbirdEV)

Founded in Livermore, Calif., in 2015, HummingbirdEV has established revenue streams domestically and in China, received funding from the California Air Resources Board (CARB), and developed a broad portfolio of complete vehicles, electric drivetrain systems, sophisticated control software, bi-directional charging systems, modular batteries including battery management systems, and more. Its products have been deployed in a variety of commercial vehicles including trucks, buses, tractors, and mining vehicles, as well as other applications.

“Achieving 500-plus successful vehicle deployments is a major milestone that validates our products, technologies, and talented team,” said Rakesh Koneru, CEO and co-founder of HummingbirdEV. “Our years of experience delivering real-world solutions has positioned us for this next phase of growth. We are thrilled to leverage this momentum to accelerate our mission of electrifying commercial vehicles globally to combat climate change.”

To fuel its continued growth and new product development, HummingbirdEV has opened a preferred Series A investment round. An initial investor has already committed $6 million, which the company said is using to expand its team and complete the development of several new products.

The company is seeking additional investors to include in the round which is targeted at closing in Q1 2024.

“We are thrilled to have strong early support from investors who believe in our vision,” said Koneru. “This new funding round will provide the fuel to turn our innovative ideas into transformative solutions for electrifying commercial vehicles globally.”

STAY CONNECTED



Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

POWER SOURCING GUIDE

The trusted reference and buyer’s guide for 83 years

The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.

Visit Now

CONNECT WITH THE TEAM
Becky Schultz Vice President of Content Tel: +1 480 408 9774 E-mail: [email protected]
Julian Buckley Editor Tel: +44 (0) 1892 784088 E-mail: [email protected]
Chad Elmore Managing Editor Tel: +1 262 754 4114 E-mail: [email protected]
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA