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Venture Capital
better.vc

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Investments

53

Portfolio Exits

5

Funds

3

Partners & Customers

1

Service Providers

1

About Better Ventures

Better Ventures provides funding and support to companies creating scalable solutions to some of the world's biggest challenges. BV believes in the power of technology to address the most important issues of the time, from education and work to health and the environment.

Better Ventures Headquarters Location

470 25th Street

Oakland, California, 94612,

United States

510-725-9255

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Latest Better Ventures News

Synop Raises $10M to Streamline EV Business Operations and Accelerate Commercial Electrification

Jun 23, 2022

Amazon Web Services, Citi, JPMorgan, and Volvo Financial Services alums are developing architecture to put EV charging, operations and energy management on autopilot for commercial fleets, OEMs, and energy companies Synop’s platform utilizes AI to power insights into telematics and logistics to expand the viability of commercial EV fleets With funding led by Obvious Ventures and additional climate tech VCs Wireframe Ventures, Congruent, and Better Ventures, Synop plans to scale operations New York, NY – WEBWIRE – Thursday, June 23, 2022 NEW YORK, New York (June 23, 2022) – Synop , an end-to-end electric vehicle fleet operations platform, announced today that it raised $10.1 million in Seed funding, led by leading climate tech VC Obvious Ventures, with participation from Wireframe Ventures, Congruent, and Better Ventures. The round will support attracting talent, customers, and commercial partners looking to make the switch to EVs. The market for energy-optimization services to support the charging of electric-vehicle fleets is estimated to reach a value of $15 billion by 2030. Factors driving market growth include rapid corporate transition into commercial EVs and climate regulation resulting in significant commercial EV investments by countries worldwide. However, vehicle fleets like school buses, semi-trucks, rental cars, and government vehicles face many obstacles when integrating new EVs, including power price volatility, charging mixed fleets, and extended charging times. Despite those challenges, the largest-ever order of electric school buses is currently in production, and school bus fleets nationwide have announced plans to electrify in the next decade. With a mission to help simplify the transition to EVs, co-founders Gagan Dhillon and Andrew Blejde built Synop to support all commercial EV types and charging infrastructures. It is the first and only software platform designed specifically for large commercial fleets and OEMs to transform the performance of their EV operations and maintain sustainability commitments. Synop puts EV operations on autopilot, bridging charging, fleet operations and energy management in a single, unified platform to take care of all fleet electrification needs. When EV bus fleets such as Highland, an EV school bus operator, leveraged Synop’s platform, they successfully scaled their operations 10x year-over-year through simple and effective charging management, route planning, energy monitoring, and telematics information insights. “The electrification of transportation is a massive undertaking, especially with companies operating large fleets. Synop is addressing the biggest, hidden infrastructural barriers for companies looking to make and manage that transition seamlessly" said Obvious Ventures Managing Director Andrew Beebe. “We’ve been impressed with the team’s extraordinary responsiveness and speed in deploying solutions for fleet customers,” said Wireframe Ventures Managing Partner, Paul Straub. “Their API-driven approach easily integrates data across vehicles, charging infrastructure and corporate operating priorities to ensure customers can confidently deploy and realize the benefits of fleet electrification.” Based on his experience at REIN as Vice President of Business Development, where he helped create mobility and commercial auto insurtech solutions with the world’s leading OEMs and insurance companies, Synop CEO Gagan Dhillon developed the concept for Synop with Co-founder Andrew Blejde, a former Amazon engineer, to address the emerging market opportunity for commercial EV fleets that need support to scale. ”Companies no longer have to be convinced that EVs are the best option for their fleet. The challenge now is creating an infrastructure to sustainably support this mass adoption,” said Gagan Dhillon, Co-Founder and CEO of Synop. “We built Synop to supply the universal operating system for EVs, unlocking the potential for a future that isn’t dependent on fossil fuels.” About Synop Synop is an end-to-end EV software platform that bridges charging, fleet operations, and energy management into a single, intuitive solution to take care of all fleet electrification needs. By providing telematics integration, smart routing, and AI-driven forecasting tools, Synop makes charging more accessible, reduces the administrative burden on fleet managers, and enables fleets to scale with multiple vehicle classes and charging partners quickly. To learn more, visit https://www.synop.ai/ . Media Contact

Better Ventures Investments

53 Investments

Better Ventures has made 53 investments. Their latest investment was in Synop as part of their Seed VC on June 6, 2022.

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Better Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/23/2022

Seed VC

Synop

$10M

Yes

3

6/15/2022

Pre-Seed

DAOLens

$5M

Yes

4

2/17/2022

Seed VC

Liefergrun

$3M

Yes

1

12/6/2021

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

12/2/2021

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/23/2022

6/15/2022

2/17/2022

12/6/2021

12/2/2021

Round

Seed VC

Pre-Seed

Seed VC

Seed VC

Seed VC

Company

Synop

DAOLens

Liefergrun

Subscribe to see more

Subscribe to see more

Amount

$10M

$5M

$3M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

3

4

1

10

10

Better Ventures Portfolio Exits

5 Portfolio Exits

Better Ventures has 5 portfolio exits. Their latest portfolio exit was SunFunder on June 20, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/20/2022

Acquired

$99M

2

5/12/2022

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

1/11/2022

Acquired

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$99M

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10

3/13/2020

Acquired

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$99M

Subscribe to see more

10

4/18/2014

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/20/2022

5/12/2022

1/11/2022

3/13/2020

4/18/2014

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

Subscribe to see more

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Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

2

10

10

10

10

Better Ventures Fund History

3 Fund Histories

Better Ventures has 3 funds, including Better Ventures Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/7/2019

Better Ventures Fund III

$32M

2

12/20/2016

Better Ventures Fund II

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Subscribe to see more

$99M

10

Better Ventures Fund III

Subscribe to see more

Subscribe to see more

10

Closing Date

10/7/2019

12/20/2016

Fund

Better Ventures Fund III

Better Ventures Fund II

Better Ventures Fund III

Fund Type

Subscribe to see more

Subscribe to see more

Status

Subscribe to see more

Subscribe to see more

Amount

$32M

$99M

Sources

2

10

10

Better Ventures Partners & Customers

1 Partners and customers

Better Ventures has 1 strategic partners and customers. Better Ventures recently partnered with citris berkeley foundry on December 12, 2013.

Date

Type

Business Partner

Country

News Snippet

Sources

12/20/2013

Partner

CITRIS Berkeley Foundry and Hub Ventures Announce Collaboration to Accelerate UC Innovations for a Better World — Better Ventures

BERKELEY , CA and SAN FRANCISCO CA -- October 3 , 2012 -- Today CITRIS Berkeley Foundry and Hub announced an innovative collaboration to accelerate startups using information technology to address our most pressing social , environmental , and health care problems .

1

Date

12/20/2013

Type

Partner

Business Partner

Country

News Snippet

CITRIS Berkeley Foundry and Hub Ventures Announce Collaboration to Accelerate UC Innovations for a Better World — Better Ventures

BERKELEY , CA and SAN FRANCISCO CA -- October 3 , 2012 -- Today CITRIS Berkeley Foundry and Hub announced an innovative collaboration to accelerate startups using information technology to address our most pressing social , environmental , and health care problems .

Sources

1

Better Ventures Service Providers

1 Service Provider

Better Ventures has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

General Counsel

Partnership data by VentureSource

Better Ventures Team

3 Team Members

Better Ventures has 3 team members, including current Founding Partner, Rick Moss.

Name

Work History

Title

Status

Rick Moss

Founding Partner

Current

Wes Selke

Managing Director

Current

Mikkel Thormod

Chief Technology Officer

Former

Name

Rick Moss

Wes Selke

Mikkel Thormod

Work History

Title

Founding Partner

Managing Director

Chief Technology Officer

Status

Current

Current

Former

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