Revoy Raises $27 Million to Hybridize Diesel Semi-Trucks With Electric Dollies
The San Francisco startup aims to bridge the gap to zero-emissions trucking by converting existing diesel fleets into hybrids.
San Francisco-based startup Revoy has secured $27 million in Series A funding to scale its detachable electric truck dolly. The investment, led by Standard Capital, brings the company's total funding to $41 million as it seeks to accelerate the electrification of heavy-duty trucking.
The technology consists of a detachable dolly that fits between a diesel tractor and its trailer, effectively converting a standard semi-truck into a hybrid. Powered by a 575-kWh lithium-iron-phosphate (LFP) battery and a high-torque e-axle, the system can propel an 80,000-lb truck for over 200 miles on a full charge. According to company data, the hybrid configuration can reduce carbon emissions by up to 85%.
A Pragmatic Path to Electrification
Heavy-duty trucking faces a steep climb toward zero emissions due to the prohibitive cost of battery-electric vehicles (BEVs) and the slow replacement cycle of existing diesel fleets. Revoy’s approach bypasses the need for a total fleet overhaul by leveraging existing assets. This "Electrification as a Service" model allows fleet operators to pay by the mile based on fuel savings rather than investing in entirely new vehicles.
"We offer a really different and much better and easier path for fleets to go electric," said Revoy EV Founder Ian Rust, noting that the service functions more like a fuel product. CEO Peter Reinhardt added that the technology allows operators to compete with diesel costs, a milestone that remains elusive for many pure electric trucks in the U.S. market.
Operational Milestones and Scaling
Revoy has already cleared significant regulatory and technical hurdles, receiving NHTSA approval for public road use in 2023 and completing a year-long proof-of-concept pilot with Ryder Systems. The company is now moving toward commercialization, with plans to launch operations on a 200-mile route in Oregon by the end of 2026. This initial deployment will utilize four electric dollies assembled from Chinese components.
Future Outlook
The company intends to use the new capital to develop a second-generation dolly. This upcoming version will be cheaper and feature a smaller battery to address weight concerns and improve efficiency. While the hybrid model provides a bridge to zero emissions, the company's long-term success will depend on its ability to scale its battery-swap infrastructure and manage the payload trade-offs associated with the added weight of the dolly hardware.