This round will help fuel the continued growth of BetterFleet, as it expands its user base to more than 200 customers across Europe, Asia-Pacific, and North America. The company’s unique AI-driven optimization technology provides the most comprehensive platform across sustainable fleet planning and operational management, focusing on complex mission-critical organizations in transit, government, utilities, and logistics.
By creating a digital twin of fleet operators’ vehicles, energy infrastructure, and routes, the BetterFleet software platform enables customers to optimize the selection of hard assets–charging stations, vehicles, interconnection equipment, etc.–, thereby avoiding significant overbuilding of infrastructure. Digital depot configurations are seamlessly integrated into live operational systems, ensuring that vehicles perform as required, asset utilization is optimized, and incidents can be addressed with minimal downtime. Working with fleets of up to 20,000 vehicles across thousands of depots, BetterFleet has helped customers save tens of millions of dollars to date.
“As large, complex fleets transition to new technologies, inexperience, fear, and risk aversion often lead to overbuilding. At the same time, electric fleets require far more sophisticated management software to handle the increased complexity of operating these assets,” said Daniel Hilson, CEO of BetterFleet. “Our goal is to enable more sustainable and productive fleets, allowing the transition to zero emissions solutions, saving our customers billions, while reducing emissions by millions of tons annually.”
Lead investors in this funding round include Aligned Climate Capital, an asset manager investing exclusively in the companies and projects advancing the shift to clean energy, Ecosystem Integrity Fund (EIF), a venture capital fund focused on enabling economically competitive solutions to sustainability problems, and Remarkable Ventures Climate (RVC), a venture capital fund backing the innovative companies driving the renewable energy transition.
“BetterFleet is the best tool we have seen for fleets that are going electric,” said Peter Davidson, CEO of Aligned Climate Capital. “They are already working with some of the largest transit agencies around the world, and we’re excited for this new financing to accelerate their growth even further.”
“Electrifying vehicle fleets is an enormous challenge that requires careful planning across infrastructure, charging logistics, and operational efficiency. That’s why we’re excited to invest in BetterFleet—its AI-powered solution allows fleet operators to transition to EVs faster and more effectively, optimizing everything from energy consumption and charging schedules to climate impact and cost efficiency,” said Jonathan Axelrod, Co-Founder and Managing Director at RVC.
“After making a dozen investments in electric transportation over the past 10 years, we were drawn to BetterFleet’s disciplined focus on enabling the successful electrification and operation of complex mission-critical fleets,” said Geoff Eisenberg, Partner at EIF. “BetterFleet is the clear leader in this space, unmatched in both technology and execution capability while serving some of the most important fleets in the world.”