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…

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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.