Volta Trucks attracts new funding of USD20m as order book swells to USD260m
By Jim Gibbins - 5th February 2021
Sweden / UK - Volta Trucks of Stockholm, Sweden, the manufacturer of the dedicated 16t gvw distribution electric Volta Zero truck, has announced it has successfully concluded a funding round, bringing new investment, shareholders, and soon, a new Board member into the company. Existing investors also increased their funding, providing external validation of the progress towards the company’s goals and future potential.
Leading the USD20m convertible debt funding raise was prominent New York-based investment firm, Luxor Capital, which manages more than USD6bn in assets, and has investments in zero emission heavy truck start-ups, Hyliion and Nikola Corporation, Lordstown Motors (e-pickup start-up based in Lordstown, Ohio), QuantumScape (a producer of solid state lithium-ion batteries for electric cars based in San Jose, California) and EverFuel ( a Danish hydrogen fuel company).
