After raising Series A round, ShiftEV plans to expand outside Egypt

Shift EV is an Egypt-based startup that offers electric mobility. It has raised an undisclosed series A. The startup’s existing investors, Union Square Ventures and Algebra Ventures, Wamda were joined by Oman Technology Fund (OTF), its first investor.

Shift EV was established in 2020 by Amr Helmy and Aly El Tayeb. The company aims to increase the adoption of electric vehicles (EV) for commercial vehicles while ensuring Egypt’s sustainability and other emerging markets.

“There are approximately 25 million commercial vehicles on the streets of emerging markets. There are many types of vehicles, including pickup trucks, minivans and small trucks. Aly El Tayeb is CEO and co-founder at Shift EV.

Shift EV converts fuel-run vehicles to electric using in-house-designed and manufactured batteries. The startup has delivered its first fleet of electrified cars late last year.

These batteries have a unique advantage: they can be made to fit into existing vehicles. Instead of creating a battery for each vehicle we convert, we can make modifications to the battery modular with the same design as we made from scratch. [according to the client’s preferences],” said El Tayeb.

EVs offer a number of environmental benefits. They also have lower operating costs and maintenance than internal combustion (ICU), engine vehicles.

He added that switching to EVs reduces carbon emission and results in a 70% decrease in maintenance and operation costs.

One year after its creation, the startup raised a Seed round to help set up its manufacturing plant, grow its staff, and expand its product line.

Shift recently developed a real time sensor data connectivity system, which integrates into the vehicle via a dashboard.

“This allows us from our side to show customers all information regarding car performance and battery packs remotely. El Tayeb added that drivers can view their vehicles from anywhere and adjust vehicle performance parameters.

Last-mile 

The majority of Egypt’s deliveries are made via internal combustion engines. Shift aims to address last-mile mobility issues by helping fleet owners go electric, and thus reduce their overheads. This is all while taking advantage of the growing demand for last mile delivery services.

Shift is currently available for e-commerce, last minute delivery and distribution.

“The reason we decided to target the last mile market was that large corporations have strong mandates to reduce their carbon emissions. Last mile logistics is more efficient because vehicles can travel shorter distances, with a loading capacity of less that two tonnes. He said that warehouses are used by companies in their operations to make charging easier.

The startup currently has 2000 vehicles ready to be converted to its electric solution. Shift is looking to add more clients and expand its operations into other markets in the Middle East, North Africa (Mena), region.

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