The vehicle electrification technology provider has now raised more than $50m altogether, after securing $22m in a round featuring Ikea and Exelon.
US-based vehicle electrification technology developer XL Hybrids received $22m in series D funding yesterday from investors including furnishings retailer Ikea and Constellation Technology Ventures (CTV), a subsidiary of energy company Exelon.
The oversubscribed round, which boosted XL Hybrids’ overall funding to more than $50m, included undisclosed new and existing large family offices, though the company did not give details of their identities. It has not disclosed precise information about its earlier investors.
Founded in 2008 as Entergem Ventures, XL Hybrids…
