CA-based Range Energy secures $23.5million in new funding. Trousdale Ventures led the investment, and Yamaha Motor Ventures, R7, and UP.Partners also participated.
With funding round, Range has raised $31.5 million in total, including its $8 million seed round. In addition to moving closer to full-scale production of its electric-powered trailers—which are crucial to the decarbonization of commercial fleets under pressure to meet rising emissions reduction targets—the company plans to use the funds to expedite work on customer pilot programs.
In order to better serve clients and expand the company’s technological offerings, Range will also devote resources to the preliminary development of its new trailer data and telematics platform.
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Range Energy is accelerating the electrification of commercial transportation via trailers for the truck market, under the direction of its creator and CEO, Ali Javidan. Its trailers provide off-road transportable power, facilitate the switch to electricity, and satisfy the short- and long-term goals of its commercial partners with a solution that can be connected to any tow vehicle.
About Range Energy
Range helps the heavy-duty truck market expedite the electrification of commercial transportation with powered trailers. Range’s powered trailer can quickly facilitate the switch to electricity and satisfy the short- and long-term goals of its commercial partners with a solution that is simple to connect to any tow vehicle.
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