Envoy secures $81 million in financing to accelerate adoption of an electric vehicle future

Press Release

Envoy Technologies, Inc (Envoy), the first-to-market EV “Mobility as an Amenity”™ provider  to the Commercial Real Estate (CRE) industry, announced today it has secured an $11 million Series A round and a strategic vehicle financing facility to assist Envoy to  scale to thousands of  vehicles. The Series A was co-led by Shell Ventures and Building Ventures and included other notable investors; DENSO, Goodyear Ventures, GroundBreak Ventures, and the Los Angeles Cleantech Incubator Impact Fund. The vehicle financing facility is being provided by Macquarie Specialized and Asset Finance, a part of Macquarie Group. The capital will enable Envoy to continue expansion throughout the United States. 

Founded in 2017 by real estate and tech entrepreneurs Aric Ohana and Ori Sagie, Envoy partners with CRE industry leaders to offer onsite mobility services including electric car-sharing and EV charging for apartments, offices, and hotels. Envoy’s Mobility as an Amenity™ service is a turn-key solution that includes technology to reserve and access vehicles, driver insurance, maintenance, and electric vehicle chargers. Even in the face of a global pandemic, the company has experienced record utilization amounting to more than 1.25 million electric miles driven. Envoy is currently available in 14 markets across 10 states in the U.S. 

“Early on, we realized that the world’s transition to electric mobility will significantly impact our built world. We have attracted investors from commercial real estate, mobility, and energy to accelerate that transition sustainably.” said Aric Ohana, Envoy’s co-founder and CEO

“Envoy has built a strong foundation enabling properties to provide a valuable and essential in-house electric mobility service. Now, with our new partners and funding, we are poised to scale rapidly into new markets and continuously educate about electric vehicles and usage” added Ori Sagie, Envoy’s co-founder and Executive Chairman.

Daniel Lyons, general manager of electric mobility at Shell New Energies, added: “We are excited to be joining Envoy in its  mission which sits at the intersection of two key trends, shared and electric mobility. As the business grows, we see opportunities to combine smart charging solutions with the broader energy needs of Envoy’s real estate partners to lower charging costs and manage grid limitations.”

Travis Connors, Co-Founder and General Partner of Building Ventures, shares the firm’s investment rationale: “One of our core investment themes is the need for increased utilization of our existing built environment. The private vehicles we use to move about that built world are perhaps the most underutilized of the spaces we occupy. We believe that Envoy has developed a solution that offers all the benefits of private car ownership without the associated costs or environmental externalities, enabling both a great user experience and a more sustainable utilization of space.”

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