Lightship Secures $34 Million Series B to Bring the L1 All-Electric Travel Trailer to Market
New funding fast-tracks manufacturing launch to bring electrification to a pastime enjoyed by millions of American families
SAN FRANCISCO, Jan. 17, 2024 /PRNewswire/ -- Lightship, America's first all-electric RV company, today announced the completion of a $34 million Series B financing to accelerate production of the Lightship L1. The round was co-led by Obvious Ventures and Prelude Ventures and joined by Allegis Capital and global RV manufacturer THOR Industries and its investment partner TechNexus Venture Collaborative. Returning investors Congruent Ventures, HyperGuap, and Alumni Ventures also joined the fundraise.
The financing brings Lightship to a new chapter as it builds the manufacturing system and supply chain to produce the L1 beginning with pilot manufacturing at its new production facility in Broomfield, Colorado this year. The company anticipates the creation of numerous high-tech engineering and manufacturing jobs as it scales up production to meet high demand following its launch.
The Lightship team has been hard at work designing, prototyping and testing the Lightship L1 – a new class of aerodynamic, battery powered travel trailer propelled with an electric drivetrain that enables near zero range or mile-per-gallon efficiency loss for the vehicle towing it.
"The electrification transformation doesn't stop at passenger cars. What Ben, Toby and the team are bringing to life will revolutionize the road trip forever," said Andrew Beebe, Managing Director at Obvious Ventures. "We're thrilled to co-lead this round with Prelude Ventures and partner with Lightship to bring the L1 to campgrounds around the country."
Unlike traditional designs, the L1 is built from the ground up for efficiency with a telescoping vehicle design which minimizes the trailer's frontal area to create the most aerodynamic trailer of its size. The all-electric RV features a massive battery energy storage system, electric propulsion and enough solar to power the vehicle for a week off-grid. The L1 debuted this spring to rave reviews and a growing waitlist.
"We take pride in what we've created at Lightship and have been humbled with the reception of the L1. Building an all-electric RV from the ground up and a brand-new U.S. based manufacturing company around that product has taken the hard work and dedication of an incredible team with outstanding support from our network of investors," said Lightship Co-Founder and CEO Toby Kraus. "We have a bold vision for the future of recreational travel, and this is just the beginning of what's to come from Lightship."
More information about the Lightship L1 is available here: lightshiprv.com.
About Lightship
Founded in 2020, Lightship is America's first all-electric RV company on a mission to reimagine the recreational vehicle experience by designing and producing aerodynamic, battery-powered trailers for the electric age. As the macro transition to an all-electric transportation ecosystem accelerates, Lightship is building a critical element to enable the electrification of pickup trucks and SUVs, while bringing the increased convenience and superior performance that electrification offers to a pastime enjoyed by 1 in 10 American families. Based in San Francisco and Colorado, Lightship sells its products direct to U.S. consumers on the company's website: lightshiprv.com.
SOURCE Lightship
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