Synop.ai an end-to-end electric vehicle fleet operations platform, announced today that it raised $10.1 million in Seed funding, led by leading climate tech VC Obvious Ventures, with participation from Wireframe Ventures, Congruent, and Better Ventures.
Amazon Web Services, Citi, JPMorgan, and Volvo Financial Services alums are developing architecture to put EV charging, operations and energy management on autopilot for commercial fleets, OEMs, and energy companiesSynop’s platform utilizes AI to power insights into telematics and logistics to expand viability of commercial EV fleetsWith funding led by Obvious Ventures and additional climate tech VCs Wireframe Ventures, Congruent, and Better Ventures, Synop plans to scale operations & meet the needs of the $15B industry
Synop.ai an end-to-end electric vehicle fleet operations platform, announced today that it raised $10.1 million in Seed funding, led by leading climate tech VC Obvious Ventures, with participation from Wireframe Ventures, Congruent, and Better Ventures. The round will support attracting talent, customers, and commercial partners looking to make the switch to EVs.
The market for energy-optimization services to support the charging of electric-vehicle fleets is estimated to reach a value of $15 billion by 2030. Factors driving market growth include rapid corporate transition into commercial EVs and climate regulation resulting in significant commercial EV investments by countries worldwide.
However, vehicle fleets like school buses, semi-trucks, rental cars, and government vehicles face many obstacles when integrating new EVs, including power price volatility, charging mixed fleets, and extended charging times. Despite those challenges, the largest-ever order of electric school buses is currently in production, and school bus fleets nationwide have announced plans to electrify in the next decade.
With a mission to help simplify the transition to EVs, co-founders Gagan Dhillon and Andrew Blejde built Synop to support all commercial EV types and charging infrastructures. Synop puts EV operations on autopilot, bridging charging, fleet operations and energy management in a single, unified platform to take care of all fleet electrification needs.
When EV bus fleets such as Highland, an EV school bus operator, leveraged Synop’s platform, they successfully scaled their operations 10x year-over-year through simple and effective charging management, route planning, energy monitoring, and telematics information insights.
“The electrification of transportation is a massive undertaking, especially with companies operating large fleets. Synop is addressing the biggest, hidden infrastructural barriers for companies looking to make and manage that transition seamlessly," said Obvious Ventures Managing Director Andrew Beebe.
“We’ve been impressed with the team’s extraordinary responsiveness and speed in deploying solutions for fleet customers,” said Wireframe Ventures Managing Partner, Paul Straub. “Their API-driven approach easily integrates data across vehicles, charging infrastructure and corporate operating priorities to ensure customers can confidently deploy and realize the benefits of fleet electrification.”
Based on his experience at REIN as Vice President of Business Development, where he helped create mobility and commercial auto insurtech solutions with the world’s leading OEMs and insurance companies, Synop CEO Gagan Dhillon developed the concept for Synop with Co-founder Andrew Blejde, a former Amazon engineer, to address the emerging market opportunity for commercial EV fleets that need support to scale.
”Companies no longer have to be convinced that EVs are the best option for their fleet. The challenge now is creating an infrastructure to sustainably support this mass adoption,” said Gagan Dhillon, Co-Founder and CEO of Synop. “We built Synop to supply the universal operating system for EVs, unlocking the potential for a future that isn’t dependent on fossil fuels.”
About Synop
Synop is an end-to-end EV software platform that bridges charging, fleet operations, and energy management into a single, intuitive solution to take care of all fleet electrification needs. By providing telematics integration, smart routing, and AI-driven forecasting tools, Synop makes charging more accessible, reduces the administrative burden on fleet managers, and enables fleets to scale with multiple vehicle classes and charging partners quickly. To learn more, visit https://synop.ai.
Media Contact
Rick Liebling
VSC on behalf of Synop synop@vsc.co
Highland Electric Fleets, the leading provider of full-service school bus electrification subscriptions in North America, and Synop, an AI-based, single-platform management service for commercial electric vehicle (EV) fleets, have entered into a long-term strategic partnership to seamlessly and efficiently manage complex EV fleet charging, grid connection, and fleet operations.
BEVERLY, Mass. & NEW YORK--(BUSINESS WIRE)--Highland Electric Fleets, the leading provider of full-service school bus electrification subscriptions in North America, and Synop, an AI-based, single-platform management service for commercial electric vehicle (EV) fleets, have entered into a long-term strategic partnership to seamlessly and efficiently manage complex EV fleet charging, grid connection, and fleet operations. Through the partnership, school districts, fleet owners, and third-party fleet management companies can focus on delivering children to school in a safe, quiet, and clean environment while services including smart charge management, fleet operations, AI-driven forecasting tools, and vehicle-to-grid (V2G) optimization are all managed effortlessly in the background. The partnership brings value-added benefits to districts choosing Highland, allowing them to stay on budget and electrify their fleet at a pace that works for them.
“We’re excited to partner with the market leader in school bus electrification to help enable the electric transition and set the standard for operating electric school buses at scale."
The integration of Synop supports Highland’s pioneering full-service subscription model, which includes everything a school district or fleet operator needs to electrify their fleets. Highland provides the school buses, installs charging infrastructure, supports driver and mechanic training and long-term bus maintenance, and more. Synop’s back-end platform manages fleet-wide V2G controls and complex coordination between vehicles, utilities, and energy markets to ensure that fleets with Highland subscriptions provide the maximum benefit to both customers and the grid, without the need for customer intervention. Customers who want deeper visibility into fleet operations can use Synop to see their vehicles in real-time throughout the day and track their state of charge and fleet performance, among other things.
These powerful tools allow Highland to build V2G and other ancillary services into its subscriptions, lowering the cost for customers and ensuring that vehicles are always ready for their daily routes and also able to support the local electric grid when needed. In addition, the interoperability of the Synop platform allows Highland to offer its customers the bus manufacturer of their choice.
“Synop lets us deliver a seamless experience for our customers, with detailed fleet information for customers who want that visibility. By managing vehicle uptime, charging, and complex data on fleet operations for any brand of electric bus, Synop’s sophisticated technology enables us to deliver on our promise to customers that they will have a reliably charged electric school bus every school day,” said Highland CEO, Duncan McIntyre. “This partnership with Synop enables Highland to offer districts a comprehensive subscription that enables them to focus on what they do best - delivering children safely to and from school without having to manage the complexities that come with EV charging.”
“We’re excited to partner with the market leader in school bus electrification to help enable the electric transition and set the standard for operating electric school buses at scale,” said Gagan Dhillon, Synop’s CEO. “This partnership will help Synop deliver our technology to school districts all across North America and enable them to rapidly transition away from diesel-powered buses. We look forward to working with Highland and offering easy-to-use charging and energy management solutions to districts across the country”
About Highland
Highland is the leading North American provider of subscriptions that make school bus fleet electrification affordable today. By managing design, construction, financing, and charging, and training school district drivers and mechanics on operation and maintenance, Highland empowers customers to transport students on fully charged, clean electric buses every school day. Highland was awarded the largest active school bus electrification project in North America to date, through Maryland’s Montgomery County Public Schools, and delivered New England’s first vehicle-to-grid (V2G) application using an electric school bus. To learn more, visit https://highlandfleets.com.
About Synop
Synop is an end-to-end EV fleet and charging management platform built to scale the adoption of commercial electric vehicles across fleets. By combining electric vehicle telematics with charging and energy management, the company has built a best-in-class operations platform set to power the future of electric fleets across North America. Interoperability is core to the company's technology, enabling fleets to scale with multiple vehicle classes and charging partners quickly. To learn more, visit https://www.synop.ai/.
Media contacts
Mission Control Communications
highlandelectric@missionc2.com
Gagan Dhillon
gdhillon@synop.ai
