LIVERMORE, Calif.--(BUSINESS WIRE)--HummingbirdEV, a global provider of advanced commercial vehicle electrification systems, announced today that it is entering an exciting new phase of business growth to combat climate change through zero-emissions technologies. After successfully integrating its products and technology into more than 500 commercial vehicles and securing initial funding for its Series A investment round, the company is now focusing on strategically accelerating mass commercialization of its climate-friendly technologies. This expansion of its business, including increased hiring, new sales and marketing efforts, and the expedited roll-out of multiple next-generation product development programs, is already underway.
Founded in California in 2015, HummingbirdEV has established revenue streams domestically and in China, received funding from the California Air Resources Board (CARB), and developed a broad portfolio of complete vehicles, electric drivetrain systems, sophisticated control software, bi-directional charging systems, modular batteries including battery management systems, and more. Its products have been successfully deployed in a variety of commercial vehicles including trucks, buses, tractors, and mining vehicles, as well as other applications.
“Achieving 500+ successful vehicle deployments is a major milestone that validates our products, technologies, and talented team," said Rakesh Koneru, CEO and co-founder of HummingbirdEV. "Our years of experience delivering real-world solutions has positioned us for this next phase of growth. We are thrilled to leverage this momentum to accelerate our mission of electrifying commercial vehicles globally to combat climate change."
To fuel its continued growth and new product development, HummingbirdEV is also announcing the opening of a preferred Series A investment round. An initial investor has already committed $6M which the company is using to expand its team and complete the development of several new products. The company is seeking additional investors to include in the round which is targeted at closing in Q1 2024. “We are thrilled to have strong early support from investors who believe in our vision," said Koneru. "This new funding round will provide the fuel to turn our innovative ideas into transformative solutions for electrifying commercial vehicles globally."
HummingbirdEV, Inc. (HBEV) is a global leader and innovator of advanced products and technologies for zero emissions commercial vehicle applications including offering complete vehicles, electric drivetrain systems, bi-directional charging systems, modular batteries, control and telematic software, and other related products. The company has clients and active development programs throughout the U.S., China, and India and maintains a focus on innovating next generation products that provide significant feature and performance advantages over the status quo. HummingbirdEV was incorporated in 2015 and has its global headquarters located in Livermore, California. For further information, visit: https://hummingev.com