Volta Trucks secures £14.6m debt funding led by Luxor Capital to expand operations and vehicle development
The convertible debt round was led by Luxor Capital and brings new capital to support engineering and industrialisation plans.
Volta Trucks is a full-electric commercial vehicle manufacturer that has developed the Volta Zero, a purpose-built large truck designed for urban freight delivery. The company maintains operations across Sweden, France, and the UK.
Volta Trucks has secured £14.6m in a convertible debt funding round led by New York-based firm Luxor Capital Group. The capital injection coincides with an expanding order book for the company's flagship electric vehicle.
The newly acquired funds will support the company as it scales its operations, grows its engineering and commercial teams, and advances vehicle development and industrialisation plans.
Luxor Capital joins previous lead investor Byggmästare Anders J Ahlström alongside a group of supporting shareholders. As part of the transaction, Sharp McGivaren of Luxor Capital is joining the board of directors.
From the founder
"I am excited to welcome Sharp McGivaren to the Board of Directors. His mix of electric vehicle industry knowledge and public markets insights will serve the Company well as we look toward the next stages of our journey. Luxor Capital’s investment serves as a confirmation of Volta Trucks’ value proposition for its customers as we transition toward a zero-emission future."
Essa Al-Saleh
Chairman of the Board of Directors at Volta Trucks
Investor perspective
"Luxor Capital seeks to back transformative companies and management teams who can generate growth and value over the long term. Volta Trucks started from first principles designing the Volta Zero and, as a result, has created an innovative vehicle that takes full advantage of electrification. We are confident customers will be delighted by Volta Trucks’ relentless focus on performance, efficiency, safety, and customer service. We look forward to helping establish Volta Trucks as a leading global electric truck brand."
Sharp McGivaren
Board Member, Luxor Capital
Use of funds
- 01Grow the team
- 02Continue product development
- 03Scale operations
Investors
Categories
About the company
Volta Trucks
Volta Trucks builds full-electric commercial vehicles for urban freight deliveries.