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The Venture Codex

WEX Venture Capital

1 Hancock Street, Portland, ME, 04101, United States

Overview

WEX Venture Capital invests in early-stage companies focused on electric mobility, including fleet electrification, EV charging solutions, and energy management.

Total investments
8
Lead investments
0
Investments · 12mo
3
Active investors
2

Sector focus

  • Software
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Investment portfolio

  • Pie

    Participated · Series A · Jun 2026

    Pie provides a suite of offerings—Growth, AI Search and Front Desk—designed to help small merchants improve visibility, attract customers on local channels, and convert customer engagement into outcomes like calls, bookings and revenue. The company emphasizes partnerships with vertical software platforms to embed its capabilities into tools already used by small businesses, exemplified by a partnership with MoeGo that reached over 10,000 pet-care businesses and delivered an average 15x return on ad spend in initial weeks. Pie launched from stealth in 2025 and, before its public debut, signed up thousands of small-business customers and generated over 100,000 phone calls to client businesses. Operational metrics cited by the company include many customers experiencing 15–20% year-over-year sales growth. With the recent investment from Amex Ventures and its $19.5M Series A led by Lightspeed, Pie plans to expand platform partnerships, broaden its product suite, and grow its team to scale adoption across categories such as auto repair, pet care, fitness and beauty services.

  • Handle

    Participated · Series B · May 2026

    Handle provides a verticalized finance and operations platform tailored to construction, centralizing lien rights, waivers, payments, invoicing, and compliance workflows. The company reports having processed more than $160B+ in construction invoices and financial workflows through its platform. Handle serves major construction and supplier customers including Ferguson, The Home Depot, EquipmentShare, Cemex, ABC Supply, Floor & Decor, US LBM, and Herc Rentals. Its long-term vision is to become the system that powers how money moves throughout construction. Handle is developing AI-driven workflow products and compliance automation and is expanding payments infrastructure as part of that vision. The company announced a $27 million Series B to fund those product and infrastructure expansions; the article lists founders Patrick Hogan, Blake Robertson, Chris Woodard, and Lucas Azevedo.

  • Standard Fleet

    Participated · Series A · Sep 2025

    Standard Fleet, headquartered in San Francisco, offers a fleet management platform that merges real-time telematics with digital key access and embedded payments, eliminating installation delays and separate hardware costs. The software targets rental, rideshare, leasing, insurance, and service fleets, giving operators a single system to track vehicles, control access, and handle transactions. Founded and led by CEO David Hodge, the company positions itself as a plug-and-play alternative to legacy fleet solutions that require aftermarket devices. Its product focus centers on streamlining vehicle data, driver permissions, and payment workflows within one interface. Standard Fleet plans to use newly raised capital to accelerate product development and scale go-to-market operations. The company did not disclose current revenue, customer counts, or other operating metrics in the article. With fresh funding and a roster of strategic mobility investors, Standard Fleet aims to deepen its footprint in the connected-vehicle sector.

  • HIVED

    Participated · Series B · Jul 2025

    HIVED builds an end-to-end parcel delivery network purpose-built for e-commerce, running on a 100% electric fleet and its HIVEDmind platform that leverages AI, real-time data, and modern architecture. The platform connects retailers, warehouses, drivers, and customers through integrated routing, real-time warehouse sorting, dynamic delivery clusters, and live parcel tracking. HIVEDmind models driver behaviour and real-world conditions to forecast volumes, optimize parking and routes, and surface delivery photos, geo-coded dashboards, behavioural alerts, and fraud-pattern detection for retailers. The company claims to be the world’s only end-to-end electric logistics network and is the UK’s highest-rated parcel delivery company on Trustpilot by far. Going forward, HIVED plans to accelerate its UK rollout into several new cities, grow its engineering and data teams, and further develop its proprietary logistics intelligence. Hived is building a delivery network at scale powered entirely by electricity and integrated with platforms such as Metapack, Shopify and Shiptheory. The network offers features including dynamic delivery-window ETAs, live tracking, in-flight redirect options, customizable customer communications and merchant dashboards with carbon-saving reporting. It delivers for large retailers including ASOS and ZARA as well as fast-growing SMEs such as Candy Kittens, Vitl and Pip & Nut. Since its August 2021 seed round the company has grown revenue 30% month over month and expanded to a head office of 40 and over 1,000 drivers. Hived intends to use new funding to invest further in its team, technology and to build a new warehouse. The business operates entirely on electric vehicles and provides carbon-saving reporting to merchants. HIVED is a parcel-delivery startup that uses electric cargo bikes for last-mile urban deliveries. It operates a fleet of 20 Raleigh e-cargobikes ridden by directly employed couriers and aims to offer estimated drop-offs in 15-minute slots. The company raised $2.4 million in venture-capital and angel funding to expand operations. Currently delivering within London’s M25, HIVED plans to expand into larger U.K. cities and achieve national coverage within three years, using electric vans for longer journeys while keeping most last-mile deliveries on e-cargobikes. Founded last year by Murvah Iqbal and Mathias Krieger, the startup emphasizes avoiding the gig economy and employing riders to improve service quality. HIVED previously received launch backing from Innovate UK in June 2020 and trialed several e-cargobike models before selecting Raleigh bikes for its fleet.

  • Volteras

    Participated · Series A · May 2025

    Volteras builds virtual connective tissue that lets plugged-in EVs offer battery capacity back to the grid while exposing connected-car features such as remote unlocking and telematics. The company integrates with automakers’ APIs and sells those functions to other businesses. It charges corporate customers a monthly fee per connected car and passes a portion of that revenue to automakers. Aggregated cars can operate as virtual power plants, giving utilities quickly dispatchable distributed power. Volteras says it works with more than 30 automakers, including Ford, BMW, Tesla, Stellantis and Volvo, and aims to cover roughly 90% of the automotive market worldwide by the end of the year. The startup is pursuing customers such as utilities, fleet managers, EV routing apps and insurers to unlock usage-based services and new revenue streams. Volteras builds an API platform that aims to be the connective tissue between EVs and the surrounding energy and charging ecosystem, linking cars, chargers, home batteries, retailers and mapping apps. The company charges OEMs and energy retailers for API access while promising not to harvest or sell user data. Volteras says its platform enables utilities and retailers to perform functions such as load balancing and optimized charging when customers opt in. The startup has partnered or hooked up with OEMs and energy firms including Mercedes, BMW, Volvo and Enphase. Volteras has operated under the radar for about three years and is led by founder and CEO Peter Wilson. Financially, it closed a roughly $2.9M seed round valued at around $12M.

Team