Revoy raises $27M to convert diesel trucks to electric
What's the deal? Revoy, a San Francisco-based startup, has raised $27 million in a Series A round to scale its detachable electric unit that converts diesel freight trucks to run on battery power. Standard Capital led the round, with Doerr Capital, Time VenturesDealroom has a profile for this one. Try Dealroom →, Y Combinator, and Leap VenturesDealroom has a profile for this one. Try Dealroom → participating. The company has now raised $41 million in total.
What's the endgame? Revoy's device — an electric dolly — sits between a truck's tractor and trailer, adding an electric motor and batteries. On a full charge, it can haul an 80,000-pound truck more than 200 miles, cutting carbon emissions by as much as 85%.
Why the approach matters: Rather than replace diesel trucks, Revoy extends their life — a different bet from fully electric heavy-duty vehicles sold by Tesla and Volvo. US sales of those trucks fell in the first half of 2026 despite higher diesel prices, according to BloombergNEF.
What's the cost pitch? "Our technology allows you to compete with diesel at cost, which is not true yet for other electric trucks in the US," said chief executive officer Peter Reinhardt. That parity is based on diesel prices before the US war with Iran; retail diesel now sits about 40% above the prewar level of roughly $3.80 per gallon.
Why now? Founded in 2020, Revoy won regulatory approval from the National Highway Traffic Safety Administration in 2023 and ran a yearlong pilot with Ryder System in 2024. It will deploy four electric dollies — assembled from Chinese components — on a 200-mile stretch near Portland, Oregon, in late 2026.
What's next? The new funding will go toward a cheaper second-generation dolly with a smaller battery but the same range. Revoy aims to have dozens in operation by the end of 2027.
How it works: Chief technology officer and founder Ian Rust, previously at self-driving startup Cruise, calls the technology an application of robotics. "Instead of removing the driver, we're using robotics to switch the fuel source," he said. When the driver accelerates, the dolly powers its motor so the diesel engine fires less; braking recharges the battery.
The signal: Revoy's $27 million round lands in the top 9% of all-time Series A energy deals in the US, a strong vote of confidence in freight decarbonisation. Its retrofit model offers a lower-cost path to cutting emissions while fully electric trucks struggle to gain traction.
Read more: Transport Topics
Image credit: futureatlas.com
