Commercial electric vehicle (EV) manufacturer Superlight has raised an oversubscribed $21m (£15.9m) Series A round.
The Yateley-based firm leverages aerospace design principles and software-centric digital architecture to reimagine middle mile logistics.
Superlight says demand for middle mile logistics – which involves transporting goods between regional distribution centres and local sorting facilities – is surging, with the global market expected to reach over £100bn in 2026.
This is largely a result of consumers’ expectations for overnight delivery, which is driving distribution centres into urban areas. For logistics providers, maximising cube volume cost and delivery efficiency is critical, but Superlight says the middle mile has long been overlooked from an innovation standpoint.
The firm says it is building the only middle mile commercial vehicle designed explicitly for the advantages of electric.
The Series A round was co-led by Engine Ventures and 2150, and will be used to complete the build out of Superlight’s UK manufacturing facility, fulfil initial sales in the UK and EU, and provide federalised vehicles for customer testing and US market entry.
“By harnessing the inherent advantages of electric propulsion and software-centric manufacturing, we’re flipping the economics of commercial EVs, unlocking massive cost savings that also happen to provide significant environmental benefits,” said Noamaan Siddiqi, co-founder and CEO of Superlight.
“Our purpose-built EV platform enables transformative performance and safety advantages that can’t be duplicated by retrofitting electric into legacy trucks. And unlike many manufacturers, Superlight owns the entire chain of designing, building and delivering its EVs, which allows us to provide unique vehicle features to continually optimise for innovation and efficiency.”
