Revoy secures $27M to scale plug-in electric conversion kit for diesel trucks

Robotics startup Revoy has raised $27 million in Series A funding to commercialize a detachable electric dolly designed to convert diesel trucks into partially electric vehicles. The device slots between a truck’s tractor and trailer, allowing an 80,000-pound truck to travel over 200 miles on a single charge. Revoy claims the system can slash carbon emissions by up to 85% compared with diesel. The company plans to deploy four units on a 200-mile route near Portland, Oregon, by the end of 2026, with a goal of operating dozens of second-generation dollies by the end of 2027. Revoy’s technology uses an electric motor and battery pack to assist the diesel engine, reducing fuel consumption by cutting throttle demand during acceleration and recapturing energy during braking. The startup, founded in 2020 and approved by the National Highway Traffic Safety Administration in 2023, ran a successful pilot with Ryder System Inc. in 2024. Revoy’s approach contrasts with fully electric heavy-duty trucks from manufacturers like Tesla and Volvo, which have seen slower U.S. sales despite high diesel prices. The company argues its system can match diesel operating costs using pre-Iran war fuel prices as a benchmark. Revoy has raised a total of $41 million, with the latest round led by Standard Capital and joined by Doerr Capital, Time Ventures, Y Combinator, and Leap Ventures. The second-generation dolly, now in development, will use cheaper Chinese components and a smaller battery while maintaining the same range. Revoy’s CEO Peter Reinhardt, also CEO of carbon-removal firm Charm Industrial Inc., stated that the technology enables cost parity with diesel—a feat not yet achieved by other U.S. electric trucks. The company is initially targeting the U.S. market but aims for global expansion.