BINGO TECHNOLOGIES RAISES $1.9M LED BY TRUCKS VC TO ACCELERATE ADOPTION OF ITS “ONE BATTERY, ANY VEHICLE” URBAN FLEET SOLUTION ACROSS EUROPE AND USA
Bingo Technologies is a US-headquartered start-up that emerged from stealth in late 2024. This first external capital raise will underpin 2025 market entries into Europe and North America.
[IRVINE, CA, USA.] Bingo Tech IO (Bingo) has announced that it has raised $1.9M, its first raise. The funding will be used to unlock market entries in Europe and North America, following successful early traction in Asia and Africa.
The funding was led by Trucks Venture Capital, the future of transportation investment specialist which includes in its portfolio the aviation pioneer Joby Aviation, groundbreaking robotaxi firm May Mobility and autonomous trucking leader Gatik in its portfolio.?
"Bingo Tech is tackling the biggest pain points fleets face when attempting to electrify commercial light-duty vehicles: charging speeds are a significant sink on vehicle uptime, charging infrastructure is lacking, vehicles are expensive, and fleet management tools are fragmented and ICE-centric,” shared Puneeth Meruva , Partner at Trucks VC. “Their end-to-end turnkey solution — featuring standardized battery packs, battery swapping stations, and fleet management software — gives businesses the tools to cost-effectively launch light electric vehicle (LEV) fleets in less than 60 days. The founding team has a proven track record of building at-scale battery and mobility businesses, and the company's revenue has already grown 300% YoY since 2023. We're excited to support Bingo as they create the infrastructure and ecosystem layer necessary for more sustainable commercial LEVs."?
“We’re delighted to welcome Trucks to the Bingo team,” says Christian S. , co-founder and partner at Bingo Technologies. “Trucks backs innovation that can clean up our cities, and that’s Bingo’s mission in a nutshell. Our ‘one battery, any vehicle’ platform helps operators unlock new levels of efficiency, profitability and environmental sustainability. This seed funding will enable us to fuel our growth and expansion into new geographies in 2025.”
Bingo is the US-headquartered start-up that emerged from stealth in November 2024 at the Milan Motorcycle Show, EICMA, with its “one battery, any vehicle” fleet solution for last-mile logistics and transportation.
Thanks to its powerful and comprehensive “Shopify-style” software platform which underpins its fleet solution, Bingo enables customers to start operating in as little as 60 days and focus on their business from day one, not worrying about software, battery and vehicle compatibility. This allows the customer to optimize for efficiency and profitability from the beginning and during every step of the process.?
A key differentiator for the company is its swappable smart battery, which powers a wide range of compatible electric vehicles. The Bingo battery is a 2kWh pack with built-in GPS and 4G, IP67 protection rating and real-time health monitoring, and is recharged in Bingo’s modular, locker-style charging stations.
Customers can select from a broad menu of compatible electric vehicles built by Bingo’s OEM partners. Two, three and four-wheeled vehicles on offer. Grabbing attention is Bingo’s E1, a lightweight passenger car with four seats, four doors and 350km of range, but which still falls under Europe’s L7e classification, just like the popular Citroen Ami (which only comes with two seats, two doors and 75km of range).?
In an effort to address the rapidly emerging low-speed EV market in the US, dominated by golf cars, Bingo is also offering retrofit solutions that will unlock efficiencies for golf car fleet operators. The first option is a smart IoT tracker designed to turn existing golf cars into software connected smart vehicles that can be tracked and remotely operated. The second option is a smart battery retrofit kit that is designed to replace existing lead-acid battery packs with Bingo’s smart swappable battery system, unlocking better performance, asset management, connected intelligence and continuous operation capability.
By building fleet solutions around a universal, swappable battery, Bingo eliminates range anxiety and vehicle recharging downtime at a single stroke, the key barriers to widespread adoption of EVs for last-mile transportation fleets. Bingo customers love that their riders can be “gone in 30 seconds” with a fresh battery onboard, whether they’re carrying pizzas, packages or people.
Bingo customers include last-mile logistics companies, ride-hail operators, and rental fleet operators who want to realize the benefits of transitioning to electrified fleets; existing businesses that want to diversify income by adding last-mile delivery capacity; and start-ups attracted by the unique prospects offered by Bingo’s platform.
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About Bingo Technologies
Bingo Technologies is radically reshaping last-mile logistics and transportation with our “one battery, many vehicles” system.?
With Bingo, customers can finally launch, operate and scale electrified urban delivery and transport fleets free from constraints in range, recharging and vehicle form.?
Bingo’s ecosystem is built around its swappable smart battery, which powers a wide range of compatible two, three and four-wheeled electric vehicles. Modular locker-type battery charging stations and multi-channel software that supports all users - riders, fleet managers, maintenance teams, management and business owners - introduce incredible flexibility and efficiency, driving significant cost savings.
Thanks to our “Shopify-style” approach, Bingo customers can roll out fully operational electrified fleets in less than 60 days. We are already serving customers across Africa and Asia, including India, Thailand, Hong Kong and China. Our largest single customer fleet currently numbers 2,000 vehicles, and Bingo anticipates our customer base will grow by a factor of five in 2025.?
Bingo’s leadership team includes highly-experienced technology and mobility entrepreneurs:?
Bingo is headquartered in Irvine California, USA.
About Trucks Venture Capital:
Trucks Venture Capital funds the entrepreneurs building the future of climate positive transportation. Because transportation generates the largest share of global emissions, we believe that the best climate investors must live and breathe transportation. Since our founding in 2015, Trucks defined and championed the notion of climate positive transportation investing, supporting breakthrough ideas on the ground and in the air.?
More info: https://www.trucks.vc