Nevoya, an all-electric trucking company, has secured $9.3 million in seed financing led by Lowercarbon Capital, with participation from Floating Point, LMNT Ventures, and existing investors Third Sphere, Stepchange, and Never Lift. The San Francisco-based company recently announced the funding as it looks to position itself to redefine logistics through AI and workflow automation.
The investment comes as the global electric truck market is projected to reach $125 billion by 2030. For Nevoya, it looks to demonstrate that zero-emissions trucking can outperform traditional diesel operations both environmentally and economically.
“We don’t just move freight—we embed ourselves in our customers’ operations, uncovering insights that others miss,” said Sami Khan, co-founder and CEO of Nevoya, in the release. “This customer-centric approach drives our technology development, ensuring the transition to zero-emissions trucking is seamless.”
Nevoya uses a proprietary AI-powered Transportation Management System (TMS) to turn the complexity of zero-emissions trucking into a competitive advantage. Part of this comes through intelligent orchestration, predictive operations, real-time visibility, and continuous optimization. Unlike traditional carriers that retrofit electric vehicles (EVs) into existing operations, Nevoya was built from the ground up for EV operations.
“Nevoya is an AI-orchestrated, electric-first freight carrier that’s already outperforming legacy diesel trucking economics, and we’re betting they’ll scale faster too,” said Shawn Xu, partner at Lowercarbon Capital, in the release.
Nevoya plans to use the funding to accelerate expansion into new freight corridors and markets, enhance its TMS platform, accelerate partnerships with industry leaders, and scale its team across sales, customer success, engineering, and operations.
The company notes that in just six months, it has onboarded Fortune 500 customers and leading 3PLs, as it looks to demonstrate that zero-emissions freight can be cost-competitive while at the same time delivering superior and reliable service.
Kodiak Robotics appoints former Cruise executive Mo Elshenawy to board of directors
Kodiak Robotics, a provider of AI-powered autonomous vehicle technology, recently announced the appointment of Mohamed “Mo” Elshenawy to its board of directors. Elshenawy, who previously served as president and chief technology officer at Cruise LLC, brings more than two decades of experience in AI, product development and engineering across autonomous mobility, e-commerce, cloud infrastructure and healthcare sectors.
The appointment comes as Kodiak prepares to become a publicly listed company through a business combination with Ares Acquisition Corporation II. The deal is expected to close in the second half of 2025.
“Mo guided Cruise through critical phases of technology and operational development, and helped manage Cruise’s integration into a wholly-owned subsidiary of General Motors,” said Don Burnette, founder and CEO of Kodiak, in a press release. “His expertise in technology platform transformation, expanding world-class engineering organizations, and deploying AI into real-world operations will be invaluable as we scale our product deployment.”
While at Cruise, Elshenawy led the transformation of the company’s autonomous vehicle programs, launching and scaling the first commercial driverless rideshare service in San Francisco and expanding operations to multiple U.S. cities. He currently serves as chief technology officer at Hims & Hers Health, Inc., where he focuses on building a next-generation healthcare platform powered by AI.
“Kodiak has a deep history of the kind of focused, pragmatic innovation that’s needed to bring autonomous trucking to scale,” said Elshenawy. “I’m excited to support such an innovative company as they advance a category-defining platform built on safety, performance, and real-world impact.”
Elshenawy joins recent board additions Ken Goldman, a seasoned financial executive, and Kristin Sverchek, president of Lyft, as Kodiak strengthens its leadership team. Upon completion of the business combination, the company will be renamed Kodiak AI, Inc.
Source: https://finance.yahoo.com/
