Faction Technology Raises $4.3M in Seed Funding
- Faction Technology, a South San Francisco, CA-based maker of light EV driverless fleets, raised $4.3M in seed funding
- The round, which follows an investment from Y Combinator and participation in their Winter 2021 startup batch
- The company intends to use the funds to continue to expand its development efforts
- Faction develops driverless solutions based on light electric vehicles to serve a range of use cases for both business and passenger transportation needs
- With the ability to move cargo or allow for a rider, Faction vehicles are targeted for urban use cases where trips usually fall into the range of 3-5 miles
- The company’s three-wheeled electric vehicles will typically weigh around 1,000 lbs and target over 150 MPGe
