Thursday, May 19, 2022

EasyMile raises $66M for autonomous EV

EasyMile raised $66 million (€55 million) in Series B funding. The funds will help it scale deployments of autonomous and electric vehicles in closed campus environments. The round was oversubscribed and it will allow EasyMile to invest in its long-term strategy of deploying autonomous shuttles on public transportation networks.

The Series B round was led by Searchlight Capital Partners, with McWin and NextStage AM also contributing. All of the company’s earlier investors also participated in the round. According to Crunchbase, EasyMile has raised about $82 million since it was founded in 2014.

EasyMile claims to have the biggest market share of the autonomous and electric shuttle market with 180-plus vehicles deployed worldwide although from my knowledge it is sharing this position with Navya which also has 180 + vehicles worldwide. The company’s vehicles include the EZ10 autonomous shuttle and TractEasy, an autonomous tow tractor for material handling in indoor and outdoor logistics. One of its biggest competitors is Navya which is also based in France. Optimus Ride and May Mobility are two well-known U.S.-based developers of autonomous shuttles. I also recently wrote about Local Motors who provided the olli shuttles for the yellowstone nationalpark.

The EZ10 is currently being trialed in the U.S. at 10 locations around Salt Lake City and at Dallas Fort Worth International Airport. If you are in the area make sure you check them out.

“We have stayed focused on what we can deliver in a reasonable timeframe and partnered with leaders in niche markets that are addressable now,” said EasyMile founder and CEO Gilbert Gagnaire. “The participation of all of EasyMile’s earlier investors in the round is a strong vote of confidence in our expansion plan, and we are very happy to welcome Searchlight, McWin and NextStage and look forward to accelerating our growth thanks to their expertise.”

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Best of luck to Easymile. As a fan of electric vehicles and clean public transport I am looking forward to more electric shuttles on the roads!

Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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