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DENSO takes stake in Envoy Technologies

(Credit: Google)

Automotive manufacturer DENSO has taken a stake in Envoy Technologies, an electric vehicle (EV) startup that offers mobility services to the commercial real estate industry. The startup partners with property owners and managers to offer onsite mobility services such as electric carsharing and EV charging for apartments, offices, and hotels, FinLedger noted.

  • Amenities: Envoy hopes to provide the CRE industry a way to offer in-house, on-site, on-demand electric vehicle-sharing services. It is currently available in 14 markets across 10 states in the U.S., including California, Washington, New York, and Virginia.
  • Worth Noting: Envoy also announced that it had raised an $11 million Series A round led by Shell Ventures and Building Ventures. The startup also raised $70 million in debt financing which the company says will allow it to purchase more vehicles to expand its business to new sites.
  • Fast growth: The company was founded in 2017 by real estate and tech entrepreneurs Aric Ohana and Ori Sagie. LABJ noted. [FinLedger+LABJ]

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