Flipturn raises $4.5M in seed funding to help fleets manage their EVs and EV chargers

February 8, 2024
July 27, 2023

In April, regulators in California announced a first-of-its-kind rule that mandates fleets transition to zero-emissions vehicles. Commercial trucking is a top focus for zero-emissions legislation; despite making up only 5% of the vehicles on the road, it is the source of 50% of vehicle greenhouse gas emissions

The private sector is also taking action. Last year 5,200 businesses pledged to meet net-zero carbon targets by 2050. 450 financial institutions, representing $130T in assets and 40% of the world’s private capital, also committed to making their portfolios climate neutral. 

Fleets are rapidly adapting to these changes by transitioning their fleets to EVs. However, fleets that adopt electric vehicles immediately run into operational challenges involving vehicle range, charging infrastructure, and energy costs. Fleet dispatchers now need visibility into range when sending vehicles out on routes, and need to account for fueling that takes hours, not minutes. Public chargers are scarce and unreliable, so many fleets install charging stations at their depot, where they can end up paying thousands per month in unexpected utility fees. 

This is where Flipturn comes in. Flipturn Connect is a unified EV fleet operations platform providing cross-system visibility across fleets’ vehicles, chargers, and related systems. With Flipturn, fleet operators can:

  • Monitor location and state-of-charge for all vehicles, track the availability and status of all chargers, and stay aware of critical issues, all from a central dashboard.
  • Set charging schedules automatically to make sure vehicles are ready to go for their next trip, while also minimizing electricity costs through charger power management.
  • Analyze kWh per mile and cost per mile across vehicles and trips, coach drivers on ways to increase efficiency using historical data, and identify ways to decrease energy usage.
  • Configure custom alerts for when a vehicle is low on energy, a charging session has ended, and more.

We’ve been working closely with fleet managers at industry-leading EV fleets to build a platform that works across the most rapidly electrifying commercial transportation sectors:

“The data Flipturn provides us will be critical to manage our day in real-time, along with assisting our team in the more efficient operation of our new BEV vehicles. Flipturn lets us manage our whole operation in one place along with providing us great KPI data to reduce costs while improving operations.” 

-Brad Bayne, Vice President of Strategic Initiatives at 4 Gen Logistics

We have seen exciting traction with our initial customers so far. To help us expand our reach, we’ve raised $4.5M in seed funding led by Accel with support from Comma Capital, Background Capital, and over thirty additional angel investors. With the new funds, we’ll build out our product and go-to-market team, so that we can expand access to Flipturn Connect and accelerate product development. 

"Flipturn has the team, product, and vision necessary to bring EV fleets into the mainstream. As businesses adapt to regulatory requirements and seek cost efficient alternatives in the long term that don't rely on fossil fuel, Flipturn is poised to be the backbone of this transformation and forever change the century-old trucking industry."

-Daniel Levine, Partner, Accel