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Several startups are targeting developers of large charging depots for e-vehicle fleets, and investors are paying attention:

1. Indigo Technologies, a developer of electric vans and software for ride-share fleets, is raising $65 million in Series C funding, Axios Pro has learned.

So far it's secured $40 million, with a final close expected later this month. A larger round, targeting $200 million to $300 million, is expected next year.

2. It's Electric, a Brooklyn-based developer of curbside EV charging stations,  expects to close about $4 million in seed-extension funding this month, COO Tiya Gordon tells Axios Pro exclusively.

Halogen Ventures led, joined by insiders Alumni Ventures, Apollo Ventures, Future Communities, Gaingels, the Partnership Fund for NYC, and Wisdom Ventures.

The company has raised $10 million since its launch in 2021, plus $7.1 million in grants and other non-dilutive funding, deploying 54 barebones chargers across six cities, with another 1,600 chargers in the pipeline.

"No touch screen, no keypad. All the things that normally break we've removed," Gordon says.

3. Terawatt Infrastructure, another charging startup, was preparing to raise up to $1.5 billion this spring to meet soaring demand for charging hubs, largely driven by automated taxi services like Waymo.

"It's an expansion," CEO Neha Palmer told Axios Pro at the time. "The first use case has been ride-share."

A column chart shows annual U.S. sales of zero-emissions trucks from 2021 to 2025. Sales rose from 203 units in 2021 to 9,243 in 2022, 17,362 in 2023 and 25,018 in 2024, reaching 25,427 in 2025. Growth was steep through 2024, then nearly flat.

Annual U.S. sales of zero-emissions trucks

Data: International Council on Clean Transportation; Note: Data includes buses, medium-duty trucks such as delivery vehicles and flatbeds, and heavy-duty trucks.; Chart: Alan Neuhauser/Axios

Startups are betting on electric vehicle fleets

The sector is seeing raises both small and large.

Illustration of a delivery truck with a dollar bill on the side

<p>Several startups are targeting developers of large charging depots for e-vehicle fleets, and investors are paying attention:</p>

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Startups are betting on electric vehicle fleets

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