The funding will go toward growing operations, but not to acquiring trucks. Khan said those purchases will be made with debt — a strategy he’s comfortable with following his experiences in private equity. Khan believes this approach also makes Nevoya more attractive to investors in an environment where there’s still a lot of hesitance around hard tech. While he said his team “kissed a lot of frogs,” that process led them to investors like RedBlue — which is run by the former founding partner of transportation startup fund Maniv Mobility, Olaf Sakkers.
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