- Arrival is working to make sustainable vehicles more accessible to the world.
- The startup was founded in 2015 by Denis Sverdlov.
- Arrival have so far raise $229.4 million over 3 funding rounds.
Our Startup of the Week for this week is…Arrival! Creating commercial electric vehicles at competitive prices – costing either less than or the same as diesel and petrol equivalents.
Founded in 2015 by Denis Sverdlov, Arrival was created with a passion to make cities cleaner, more efficient places to be. Since launching, the startup’s team has grown to over 1100 people covering 10 different cities in 6 countries. Arrival state:
“We don’t accept the way things are done. We challenge legacy processes and always design from the ground up – never settling for anything but the best possible solution.”
Aiming to meet the increasing demand for more a sustainable way of life, Arrival’s innovative technology aims to provide emission-free transport solutions. Earlier on this year, the startup revealed their zero-emission bus, said to “transform the public transport industry at a time when it is facing its biggest challenges”.
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This bus isn’t just meeting the demands for more eco-friendly transport, it can also adapt to social distancing and cleanliness practices that have risen as a result of the coronavirus pandemic.
Arrival’s technology offers future-focused solutions to some of the world’s most prominent current issues. Even the assemblage of the startup’s vehicles offers benefits for its surrounding environments. Through Arrival’s impressive and unique technology, its vehicles can be assembled in local Microfactories, of which will yield such benefits for the local community as employment as well as paying local taxes. Arrival plan to have 1,000 of these set up by 2026.
So far, the startup has raised $229.4 million in funding over the course of 3 funding rounds. It’s latest round of funding was announced only a few days ago, BlackRock giving the startup a boost of $118 million. Founder Sverdlov commented the following on this latest funding:
“This additional capital will be invested into Arrival’s growth, as we deepen and expand our presence in the U.S. and other new markets globally”
“With our new microfactory in South Carolina, we are looking forward to partnering with more cities and companies to create a sustainable future.”