EV fleet management startup Synop makes its way to $10M seed round – Meczyki.Net

When it comes to taking the transportation sector to EVs, commercial fleets are probably some of the lowest-hanging fruits. More often than not, they have frequent routes, reserved off-hours parking, and cost little to drive and maintain.

But for many commercial operators, EVs are still a wildcard. Gagan Dhillon and Andrew Blazde co-founded Synop to reduce the unknown and accelerate the adoption of EVs in the commercial fleet. With Meczyki.Net exclusively, the company today announced a $10 million seed round led by Clear Ventures and joined by Wireframe Ventures, Congruent and Better Ventures.

“Electrification of transportation is a huge undertaking, especially with companies operating large fleets,” said Andrew Beebe, managing director of Clear Ventures. “Synop is addressing the biggest, hidden infrastructural barriers for companies looking to seamlessly build and manage that transition.”

Fleet operators, Dhillon and Blazde found, have a lot of questions that need to be answered before they jump to EVs. “How do you prolong the life of this vehicle, of this asset? And then how do you do the day-to-day operations of that asset? Where should it be? What time does it need to be charged? For how long and for how long?” Need to charge the rear end?” Dhillon said. “It’s all orchestrated through the Synop platform.”

One of the company’s first customers excess, an electric school bus fleet provider based in Beverly, Massachusetts, which raised a $253 million Series A round in early 2021. The company offers the bus fleet through a subscription model that includes charging infrastructure, operating electricity and maintenance. Synop is working with Highland to optimize charging and routing.

But it won’t be just school buses on Synop’s platform. Dhillon and Blazeday are designing their software to work with virtually any type of vehicle and manufacturer. “We want to make something that is vehicle class-agnostic, so from class 2 to 8 On the commercial vehicle side,” said Dhillon. “We also want to make something that is use case-agnostic. You can bring an electric Semi to Sinop for drawage use cases – we are bringing electric garbage trucks to the people, which is really amazing.

The company is also working on a feature to manage vehicle-to-grid or V2G connections. EVs have long been seen as a potential asset for grid managers, one that they can pay well to use. EV batteries plugged into the grid can help stabilize the flow of electricity in cases of equipment failure or down power lines, giving grid managers time to respond with more sustainable fixes. They can also help offset peaks in demand. All this gives fleet operators the opportunity to monetize their assets when they are not in use.

But anyone who doesn’t own an EV—especially a fleet manager—wants to wake up to let their vehicle’s battery run out when they need it most. “Our software is going to help you as a fleet operator optimize to push [electricity] Back [to the grid] Because you don’t want to discharge your battery at 4 in the morning and then there is no state of charge for that route you have to run at 7 in the morning,” Dhillon said.

Blejde said Synop is collecting and analyzing data to help optimize EV use across different fleets. But it will also keep the customer’s data separate if they request it.

Synop can also help fleet managers decide which routes are ripe for electrification. “Give me your 100 routes, and then figure them out on the road map for electrification,” Blazde said. “We swallow the data, we look at the route, we can give a confidence interval of how electrifying it is, and then give that answer to the customers. [to] Get your vehicles on board and help steer them. ,

The goal, Dhillon said, is to help electrify and manage commercial fleets so that operators realize all the potential cost savings that electrification can offer.

“Most of the competition today is building a very vertical approach where they just want to go into it with their products and don’t have support for interoperability,” he said. “We finally realize that the big opportunity in this space is for someone to build this neutral software layer for commercial electric vehicles and chargers.”

“As you know, we are trying to position ourselves better, because the plumbing of this industry is no better,” Dhillon said.