BetterFleet secured the final close of its Series A funding round, totalling $23.7 million (AUD), as it continues to deploy its software to help fleets make cost-effective transitions to efficient, sustainable vehicles. BetterFleet’s Series A round was led by experienced venture and growth firms, including Aligned Climate Capital, Ecosystem Integrity Fund (EIF), and Remarkable Ventures Climate (RVC).
This round will help fuel the continued growth of BetterFleet, as it expands its user base to more than 200 customers across Europe, Asia-Pacific, and North America. The company’s unique AI-driven optimisation technology provides the most comprehensive platform across sustainable fleet planning and operational management, focusing on complex mission-critical organisations in transit, government, utilities, and logistics.
By creating a digital twin of fleet operators' vehicles, energy infrastructure, and routes, the BetterFleet software platform enables customers to optimise the selection of hard assets–charging stations, vehicles, interconnection equipment, etc.–, thereby avoiding significant overbuilding of infrastructure. Digital depot configurations are seamlessly integrated into live operational systems, ensuring that vehicles perform as required, asset utilisation is optimised, and incidents can be addressed with minimal downtime. Working with fleets of up to 20,000 vehicles across thousands of depots, BetterFleet has helped customers save tens of millions of dollars to date.
“As large, complex fleets transition to new technologies, inexperience, fear, and risk aversion often lead to overbuilding. At the same time, electric fleets require far more sophisticated management software to handle the increased complexity of operating these assets,” said Daniel Hilson, CEO of BetterFleet. “Our goal is to enable more sustainable and productive fleets, allowing the transition to zero emissions solutions, saving our customers billions, while reducing emissions by millions of tonnes annually.”
Lead investors in this funding round include Aligned Climate Capital, an asset manager investing exclusively in the companies and projects advancing the shift to clean energy, Ecosystem Integrity Fund (EIF), a venture capital fund focused on enabling economically competitive solutions to sustainability problems, and Remarkable Ventures Climate (RVC), a venture capital fund backing the innovative companies driving the renewable energy transition.
“BetterFleet is the best tool we have seen for fleets that are going electric,” said Peter Davidson, CEO of Aligned Climate Capital. “They are already working with some of the largest transit agencies around the world, and we’re excited for this new financing to accelerate their growth even further.”
“Electrifying vehicle fleets is an enormous challenge that requires careful planning across infrastructure, charging logistics, and operational efficiency. That’s why we’re excited to invest in BetterFleet—its AI-powered solution allows fleet operators to transition to EVs faster and more effectively, optimising everything from energy consumption and charging schedules to climate impact and cost efficiency,” said Jonathan Axelrod, Co-Founder and Managing Director at RVC. “After making a dozen investments in electric transportation over the past 10 years, we were drawn to BetterFleet’s disciplined focus on enabling the successful electrification and operation of complex mission-critical fleets,” said Geoff Eisenberg, Partner at EIF. “BetterFleet is the clear leader in this space, unmatched in both technology and execution capability while serving some of the most important fleets in the world.”
About BetterFleet BetterFleet is a reliable, secure SaaS platform that empowers mission-critical transit, government, utilities, and logistics fleets to make cost-effective transitions to efficient, sustainable technologies. By leveraging advanced AI and digital twin technology, BetterFleet helps fleets select the right vehicles and infrastructure, ensure assets are always ready for service, minimise operating costs, and capture data-driven insights for continuous performance improvement. Trusted by more than 200 fleets worldwide, BetterFleet delivers clarity and value when every minute counts. BetterFleet is the new brand name of EVenergi, a global leader in planning, procurement, implementation, and operations software for zero-emission fleets and infrastructure.
About Aligned Climate Capital Aligned Climate Capital LLC is an asset manager investing exclusively in the companies and projects that are driving the clean energy transition. Founded in 2019, Aligned currently manages approximately $1.9 billion of assets (as of 12/31/23) and invests across multiple strategies and asset classes. The firm’s senior leadership brings decades of climate and clean energy experience across finance, energy markets, and government.
Aligned has two primary investment strategies: the Aligned Climate Fund, which provides capital to venture-stage companies deploying and scaling established clean energy solutions, and Aligned Solar Partners, which acquires and owns fully permitted and construction-ready solar, energy storage, and other clean energy projects.
About Ecosystem Integrity Fund (EIF) Ecosystem Integrity Fund (EIF) invests in early growth-stage companies contributing to environmental sustainability across multiple sectors including renewable energy, transportation, agriculture and food, climate resilience, green chemistry, waste reduction, and efficiency. EIF takes a systems-based approach to sustainability investment, studying both the drivers for change as well as the constraints to innovation in market niches that are ripe for development. EIF invests in companies solving real problems, resulting in better investment opportunities and greater impact. The firm has over $600 million in assets under management.
About Remarkable Ventures Climate Remarkable Ventures Climate (RVC) invests in remarkable founders building the next generation of businesses leading the renewable energy transition. RVC focuses on companies commercialising new technologies across energy transition, built environment, supply chain, transportation, and fintech. RVC brings more than a decade of experience gained from backing 350+ companies, and its network of 1000+ experts helps founders build their climate companies faster.
Contact details:
Anil Lambert / [email protected] / 0416 426 722