# Spring Free EV

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spring-free-ev

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.springfreeev.com
- Total disclosed funding: $11M
- Latest round: Series A (Mar 23, 2023)
- Investors on record: 6

## About

Based in California, US, and founded in 2021 by its CEO Sunil Paul and co-founders Tenni Theurer, Martin Lagod, Visrin Vichit-Vadakan, and Andrew Deitz, Spring Free EV, Inc., operates as a financial technology company focused on helping small and midsize fleet owners convert their fleets to electric vehicles. In March 2023, Spring Free EV, Inc. raised USD 31 million in series A and debt funding. 

Spring Free EV, Inc. provides a mileage purchase agreement, a pay-per-mile subscription model for fleet managers interested in incorporating electric vehicles into their fleets. Its selection of EVs includes the Tesla 3, which boasts a 358-mile range, RWD and AWD options, and a central 15-inch touchscreen. The Tesla Y offers a 330-mile range and storage options. The Nissan Leaf has a range of 226 miles for gig workers, while the Chevy Bolt offers an EPA-estimated 259-mile range on a full charge.

The company plans to use the venture funding to double the number of EVs on the road by the end of 2023, and at full-scale operation, it expects to cut the upfront costs of utilizing EVs.

## Funding rounds

- Series A, Mar 23, 2023, $11M — Brainstorm Ventures, Bronze Investments, Gaingels, Spring Lane Capital, Pitbull Ventures, Climate Capital

## Investors

- Brainstorm Ventures (https://capitalatlas.ai/funds/brainstorm-ventures) — Series A
- Bronze Investments (https://capitalatlas.ai/funds/bronze-investments) — Series A
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series A
- Spring Lane Capital (https://capitalatlas.ai/funds/spring-lane-capital) — Series A
- Pitbull Ventures (https://capitalatlas.ai/funds/pitbull-ventures) — Series A
- Climate Capital (https://capitalatlas.ai/funds/climate-capital) — Series A