Revoy Raises $27 Million for Electric Dolly That Retrofits Diesel Trucks
The San Francisco startup wants trucking fleets to cut diesel use without buying new electric vehicles, using a battery-powered dolly that clips onto existing rigs.
AfroEuropa Newsroom
AfroEuropa desk
San Francisco-based startup Revoy has raised $27 million to expand production of a detachable electric dolly designed to add electric power to existing diesel trucks without replacing the vehicles, according to Ventureburn and electrive.com.
The funding round was led by Standard Capital, with participation from XYZ Venture Capital, Doerr Capital, Time Ventures, Y Combinator, Leap Ventures, and Y Combinator co-founder Paul Graham. Including earlier funding, Revoy has now raised a total of $41 million, Ventureburn reported.
The system consists of a powered dolly that fits between a truck's cab and its trailer, connecting to a standard fifth-wheel hitch. Rather than replacing the diesel engine, the dolly provides an electric assist and requires no modifications or rewiring to the truck or trailer, according to Ventureburn.
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