Renovo develops a software platform it positions as an autonomous operating system for leading automakers and fleet operators. The company aims to provide core software and services to support self-driving vehicles and fleets. Renovo debuted a high-profile demo in 2015 with a self-driving DeLorean developed with Stanford and has since expanded testing: it is listed as a permit holder for self-driving vehicle tests on public roads in California. Financially, Verizon invested as part of a new $10 million financing round led by True Ventures, bringing Renovo’s total funding to $14.5 million across two rounds. Renovo was founded in 2010. Verizon views its network and services as a strategic component for autonomous driving, highlighting the importance of data transfer and collection in Renovo’s market. Renovo Motors, founded in 2010 and based in Campbell, California, develops an all-electric coupe. Founded by Christopher Heiser and Jason Stinson, the company operated in stealth for over four years to refine a patent-pending electric vehicle technology and recently launched its production prototype. The Renovo Coupe employs a patent-pending 740-volt lithium-ion battery pack and two twin sequential axial flux motors producing more than 500 horsepower and 1,000 ft-lbs of torque. The powertrain delivers 0–60 mph in 3.4 seconds and the coupe is on sale now in limited quantities, with shipments slated to begin in 2015. Renovo closed an undisclosed funding round led by True Ventures and plans to use the proceeds to continue R&D focused on enhancing its electric propulsion technology.

Total raised

$10M

Funding rounds

2

Latest round

Equity

Latest activity

May 2017