Publication date:
December 8, 2024
Uber Invests in Electric Vehicle Charging Startup to Support Zero-Emissions Goals
Rideshare company Uber has invested in It's Electric, a climate tech startup focused on scaling electric vehicle charging infrastructure in cities, as part of the company's $6.5 million seed funding round.
Infrastructure
It's Electric, a climate tech startup founded in 2022, has secured $11.8 million in funding and grants, including investment from Uber in its recent $6.5 million seed round. The company aims to make electric vehicle charging more accessible in densely populated urban areas.
Founded by Tiya Gordon, who pivoted from a career in design to start the company at age 45, It's Electric takes an innovative approach to EV charging infrastructure. Rather than relying on street lamps or other public infrastructure, the company partners with buildings to power curbside chargers, sharing revenue with building owners as an incentive.
Gordon emphasized the importance of demonstrating real-world results to attract investors. The company ran a successful pilot program with the New York City Economic Development Corporation, which helped prove the viability of their solution. This tangible evidence was crucial in securing funding and partnerships.
Uber's investment aligns with the rideshare company's zero-emissions goals. Many Uber drivers in urban areas lack access to home charging, making It's Electric's solution particularly attractive. The partnership could help accelerate EV adoption among Uber drivers in cities.
Gordon advises other entrepreneurs to focus on solving clear pain points with simple, effective solutions and to be prepared to demonstrate results. The company's success in attracting major investors like Uber highlights the potential for innovative approaches to address urban EV charging challenges.
Founded by Tiya Gordon, who pivoted from a career in design to start the company at age 45, It's Electric takes an innovative approach to EV charging infrastructure. Rather than relying on street lamps or other public infrastructure, the company partners with buildings to power curbside chargers, sharing revenue with building owners as an incentive.
Gordon emphasized the importance of demonstrating real-world results to attract investors. The company ran a successful pilot program with the New York City Economic Development Corporation, which helped prove the viability of their solution. This tangible evidence was crucial in securing funding and partnerships.
Uber's investment aligns with the rideshare company's zero-emissions goals. Many Uber drivers in urban areas lack access to home charging, making It's Electric's solution particularly attractive. The partnership could help accelerate EV adoption among Uber drivers in cities.
Gordon advises other entrepreneurs to focus on solving clear pain points with simple, effective solutions and to be prepared to demonstrate results. The company's success in attracting major investors like Uber highlights the potential for innovative approaches to address urban EV charging challenges.