Revel, an electric mobility company based in New York and an infrastructure company, has raised $50 million in Debt financing.
BlackRock Alternatives directed the round through its Climate Infrastructure fund.
Also Read: Send Technology Solutions Raises PS9M in Series A Funding
Revel Raises $50M in Debt Financing
The company plans to utilize the money to expand its network of high-volume electric vehicle fast-charging public Superhubs.
The company is led by its CEO Frank Reig; Ravel is an electric mobility and infrastructure firm operating Superhubs that are built to accommodate a variety of uses that include general consumers. Ravel’s 100% electric Rideshare fleet, third-party rideshare operators, and light-duty delivery vehicles. The company’s flagship Superhub is located in Bed-Stuy, Brooklyn, and the company is planning to open additional Superhubs in U.S. cities by 2023. All its Superhubs will be able to meet the needs of the future, featuring several stalls that can accommodate the rising E.V. use and charging speeds that are at a minimum of 150kW.
The funding follows Revel’s $126 million Series B financing round, which was first announced in February and managed by BlackRock.
