Electric-Assist Vehicles Raises New Funds to Expand Operations
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Electric Assisted Vehicles (EAV) has completed a new funding round to help expand its operations.
The Oxfordshire-based startup, which produces electric-assisted enclosed delivery bikes, hasn’t revealed how much funding it has received in its latest round, but promises a pretty serious expansion of its business.
Production capacity, for example, is expected to increase, allowing the company to meet more customer orders. The imaginatively named company is also ready to “recruit key personnel” and step up its research and development and engineering capabilities to accelerate the development of new models.
“Over the past two and a half years, EAV has successfully completed commercial trials in a number of new business areas, from logistics to facility maintenance and even waste management,” says Adam Barmby, founder and CEO of EAV.
“Our experiences and subsequent vehicle orders have proven beyond doubt the effectiveness and capabilities of micro-mobility solutions for urban commercial and passenger transportation. We have also gotten to know our customers better and are developing new products to meet their specific needs. This latest round of funding will strengthen our engineering and production capabilities and bring new EVA products to market much faster, allowing us to take advantage of the rapid and necessary changes in urban transportation.
The funding was led by H+ Partners of Hong Kong, a venture capital firm specializing in carbon-free transport and mobility.
“We are very excited to join EAV on its journey to disrupt the last mile and mid-mile vehicle markets,” said Simon Eckersley, co-founder and partner at H+ Partners.
“The team has done a tremendous job developing cutting-edge micro-mobility solutions. We look forward to supporting them as EAV enters new market segments, creates jobs and provides real-world solutions to tackle emissions. in cities around the world. I am thrilled to have joined the EAV Board of Directors and look forward to working closely with the fantastic team that Adam has assembled.
EAV’s range of vehicles is fully configurable, allowing companies to tailor their vehicles to their needs. Large storage boxes and even refrigeration units are available, while the mix of bikes and electric motors keeps everything light and efficient.