On February 25, EACo Auto first announced that Revel, a New York-based mobility electrification company in the United States, completed a $126 million Series B financing, which was led by BlackRock and participated in by Toyota Venture Capital, Goodyear Venture Capital, shell venture capital and so on.
Founded in 2018 in New York, USA, Revel is committed to advancing the electrification of mobility and currently provides services in New York, Washington, San Francisco, Miami and other cities.
Revel previously completed a $34 million Series A round in October 2019, led by IBEX and invested by Hyundai Capital, Maniv Mobility and others.
Unlike Uber and Lyft, which are also committed to shared mobility, the former two adopt an asset-light business model, with vehicles owned by drivers or vehicle rental bases, while Revel's vehicles are all owned by themselves and use only Tesla's electric vehicles, and their fleet is Tesla Model Y and is popular with users.
As the head of Investment in Silicon Valley and Asia Pacific of Goodyear Ventures, Zhou Bin believes that Revel provides a complete solution for electrification of urban mobility, from electric bicycles, electric motorcycles, to electric mobility services and fast charging infrastructure.
Goodyear Ventures' investment in Revel is also a recognition of the mission of electrification of mobility and will support the development of Level for a long time.
EO Auto understands that Revel is working hard to provide comprehensive protection for its employees and users. Eviction-sharing drivers employed at Revel receive benefits such as training, health insurance and paid vacation.
Revel is also responsible for all costs including maintenance, cleaning and battery charging.
Revel is ramping up its layout of its charging network. This round of financing will also be used to expand the scale of the Revel fast charging network and accelerate the development of the shared mobility electric vehicle fleet, expand the scale of Revel's fast charging network in New York and other cities, and provide a sound fast charging infrastructure for the arrival of large-scale travel electrification.
Revel's first fast-charging center in Brooklyn, New York, is open 24/7.
Pictured: Revel's fast charging site
EOU Auto believes that Revel sees Uber and Lyft as its main competitors and is opening up the market for shared mobility through a differentiated strategy.
Revel has previously mentioned in public that the reason for choosing the Model Y as the operating vehicle is based on a comprehensive consideration of its mileage, price and user experience.
For Revel, although the Model Y does not have a price advantage, other advantages can make up for the shortcomings.
For example, the Model Y used by Revel can greatly enhance the user experience, the car will provide a display in the rear seat, passengers can enjoy services such as music, and the car also eliminates the front passenger seat, providing more seating space for rear passengers and improving comfort.
Today, Revel is further investing in mobility-related infrastructure.
Fast charging infrastructure is what Revel has previously missed. In this regard, Revel co-founder and CEO Frank Reig pointed out that Revel is committed to establishing a convenient fast-charging network in the core cities of the United States, thereby accelerating the arrival of electrification and promoting the conversion of fuel vehicles to electric vehicles.
Martin Torres, head of U.S. at BlackRock New Energy, also said that he will continue to promote the transformation and electrification of energy with Revel.
EOU Auto believes that Revel, as a pioneer in the electrification of urban mobility solutions, will provide a unique development blueprint for the market. In the long run, Revel may cover a differentiated travel audience with shared travel players in North America and jointly promote the transformation and development of electrification in the region.