FinTechFunding

Xos Trucks: Raises $20M in Funding

  • Xos Trucks, Inc., a Los Angeles, CA-based manufacturer of fully electric commercial vehicles, raised $20m in funding
  • Backers included Proeza Ventures, a mobility-focused VC firm backed by Metalsa’s holding company, and also Build Capital Group
  • In conjunction with the funding, Rodolfo Elias Dieck of Proeza Ventures, and Mark Lampert of Build Capital Group and former Daimler executive, joined Xos’ board
  • The company intends to use the funds to grow operations and further scale production of the X-Platform currently used by customers Loomis and UPS, among others
  • Xos Trucks builds electric trucks and develops technologies and mobility solutions
  • Xos vehicles have been in use for delivery on UPS customer routes in the Los Angeles area for the past eight months
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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