Agility returned to reinvest in the commercial EV developer as it gets ready to kick off production of its trucks.

Volta Trucks, a Sweden-based developer of commercial electric vehicles (EVs), secured €230m ($260m) in series C funding yesterday from investors including logistics services provider Agility.

Luxor Capital led the round and was also joined by real estate holding company Byggmästare Anders J Ahlström and B-Flexion. The company is not disclosing its valuation, but TechCrunch pegged it at over $490m, citing Pitchbook data.

Founded in 2017, Volta is developing a 16-tonne fully electric freight vehicle for urban logistics and has pre-orders in excess of 5,000 units in place and an orderbook value of over $1.36bn.

Logistics services provider DB Schenker pre-ordered nearly 1,500 of the trucks in November 2021, a transaction billed as the largest zero-emission truck order in Europe to date.

The company will use the proceeds to fund its engineering and operations through the start of the production of its vehicles at the end of this year, covering the…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.