Wednesday, September 24, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home World Regional News Europe

Sweden’s Volta Raises $260M… to get it’s all-electric trucks into production by the end of this year

Femi Thomas by Femi Thomas
02/26/2022
in Europe
0 0
0
Volta Sweden

Volta Sweden

0
SHARES
Share on FacebookShare on Twitter
Volta Trucks — the Swedish electric vehicle startup that believes it can build better urban delivery vehicles and other trucks that are safer and take up a smaller carbon footprint than their gas-guzzling, more clumsy, existing counterparts has closed a big round of funding to help it through that last mile of work before its Volta Zero trucks go into commercial production later this year.

The company has raised $260 million, a Series C round of funding that appears to value the company at just over $490 million.

Volta will be using the money to fund engineering and business operations ahead of its first trucks rolling off the assembly line, on the back of what looks like a healthy list of customers:

Volta said that its pre-order book for its all-electric Volta Zero — said to be the first fully electric, purpose-built commercial freight vehicle designed for urban freight distribution — is currently totaling over €1.2 billion, covering more than 5,000 vehicles.

Volta’s wider business strategy will be based both on selling trucks as well as offering its vehicles on a trucking-as-a-service model.

New York-based Luxor Capital, which led the company’s €37 million Series B in September 2021, is also leading this round.

Real estate investment firm Byggmästare Anders J Ahlström (like Volta, based in Stockholm), supply chain services giant Agility, and B-FLEXION (formerly Waypoint Capital) also participated.

While Volta has not disclosed its valuation, Pitchbook data notes that it is now just over $490 million — a figure that we have now confirmed also with sources close to the company.

Volta’s growth, and a large amount of capital it has now raised — over $325 million to date — are part of a bigger sea change in the automotive world.

Startups, tapping into new manufacturing techniques, new battery technology, and new energy infrastructure, see a ripe opportunity to build new vehicles to disrupt the current status quo with safer and cleaner alternatives.

 

Read more on Tech Gist Africa:

Mexican fintech company delt.ai Secures Debt Financing by Processing $25M in Digital Assets

Luxembourg-based Leko Labs gets $21M to Build Greener

PerchPeek Raises $11M to woo ‘great resignation employees’ with Easy Relocation

 

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Femi Thomas

Femi Thomas

Related Posts

Nofence Norway
Europe

Norwegian ag-tech firm Nofence has closed a Series B round of over US$35 million

by Tech Gist Africa
09/23/2025
0

Norwegian ag-tech firm Nofence has closed a Series B round of over US$35 million (€30 million), raising the capital in...

Read more
Nothing Carl Pei London UK

London-based consumer tech company Nothing Raises $200M Series C

09/23/2025
Mistral AI France

French AI startup Mistral AI has closed a €1.7 billion Series C funding round

09/23/2025
Breega Europe

Breega, an early-stage venture capital firm based in Europe, has launched a $75 million Africa-focused fund

07/02/2024
Mon Petit Placement France

Lyon’s fintech firm Mon Petit Placement bags €6.5M

10/30/2023
Next Post
Spoke UK

Spoke Launches Music Therapy App for Gen Z, raises $1.5M

Zenjob

Berlin-based Zenjob Raises €45M in a Growth Financing Round

PlantLab

Dutch indoor farming company PlantLab secures €50M

No Result
View All Result

The Big 5

Gitex Nigeria 2025

Nigeria’s Digital Moment: Key Takeaways from GITEX Nigeria 2025

by Tech Gist Africa
09/11/2025
0

...

Itana Nigeria

Itana Opens Applications for Digital Residency Launchpad

by Tech Gist Africa
09/11/2025
0

...

Africa’s Business Heroes 2025

Africa’s Business Heroes Names 20 Finalists for $1.5M 2025 Prize

by Tech Gist Africa
09/11/2025
0

...

Innovation Process

Djezzy Launches Open Innovation Challenge 2025 to Drive Inclusive Digital Transformation in Algeria

by Tech Gist Africa
09/11/2025
0

...

Temidayo Isaiah Oniosun Nigeria

Temidayo Oniosun Launches Nigeria’s First Egusi Seeds to Space

by Tech Gist Africa
09/11/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.