Nevoya raises $9.3M as its EV truck fleet reaches cost parity with diesel

Nevoya, a Los Angeles-based electric vehicle (EV) trucking startup, has raised $9.3 million in a seed funding round led by Lowercarbon, with participation from Floating Point, LMNT Ventures, and others. The company, which emerged from stealth last year, offers electric trucks to shippers and currently serves 10 Fortune 500 companies, achieving cost parity with comparable diesel trucks in California. Nevoya credits its competitive edge to leveraging AI for route optimization, load matching, energy-efficient operations, and battery management, enabling automation of up to 90% of trucking processes and improving communication between dispatchers and customers. With the new funding, Nevoya plans to expand beyond California into states like Texas, where it is already hauling freight in Houston and Dallas. However, reaching cost parity with diesel trucks in these new markets presents challenges due to less developed charging infrastructure. To address this, Nevoya employs creative solutions such as utilizing existing chargers at passenger vehicle stations and school bus depots during off-