Synop plans to use the funding to expand its customer base, team size, and commercial partner network. Here are the top-line bullets you need to know.
Synop, an electric vehicle (EV) fleet management startup, has raised $10M in seed funding. The round drew participation from Obvious Ventures, Better Ventures, Congruent Ventures, and Wireframe Ventures.
HOW’S THE COMPANY PERFORMING?
- Indiana-based Synop provides EV fleet operations, charge management, and energy management services.
- Highland, an electric school bus company, claims to have scaled its operations by 10x year-over-year through the utilization of Synop’s solutions.
Source: Synop
WHY DOES THE MARKET MATTER?
- The global electric vehicle market is expected to be valued at $823.8B by 2030, growing at a CAGR of 18.2%, according to Allied Market Research.
- Rising corporate adoption of commercial EVs as well as increasing regulatory pressure surrounding vehicle emissions are contributing to market growth.
- The surge in fuel prices will likely also drive growth in this market.
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