Volta Trucks raises €230 million

Swedish automotive startup Volta Trucks has raised €230 million in Series C funding. The round was led by New York-based Luxor Capital, with participation from real estate investment firm Byggmästare Anders J Ahlström, supply chain services company Agility, and B-FLEXION.

Founded in 2019, Volta Trucks is the maker of an electric truck designed for last-mile logistics. The startup plans to deliver 5,000 vehicles next year and in 2025 it will be operational across Europe and the US.

Volta Trucks also offers a ‘truck-as-a-service’ solution – for a monthly fee, customers have access to the full-electric Volta Zero vehicle, its charging infrastructure, and all its servicing, maintenance, insurance, and training requirements.

“The successful and oversubscribed conclusion of our Series C funding round gives us a positive external validation of our journey. As an innovator and disruptor in commercial vehicles, we are working at industry-leading pace and have significant ambitions. Today’s closing of the Series C funding round, bringing €230 million into the company, gives us the financial runway to be able to deliver on all our goals as we transition from a start-up to a manufacturer of full-electric trucks. The confirmation of our orderbook of over 5,000 vehicles with an orderbook value exceeding €1.2 billion, gives us and our investors, confidence that our pioneering product and service offering is both wanted and needed by our customers.” – Essa Al-Saleh, CEO of Volta Trucks.