Revel funding, valuation and investors

Overview

Revel is a Brooklyn-founded electric-mobility company (founded 2018) that built one of the largest public DC fast-charging networks in New York City and expanded to sites in San Francisco and Los Angeles. The company permanently shut down its all-electric ride-hail service in August 2025 to focus on charging infrastructure, citing better impact on urban EV adoption through depots serving rideshare drivers and the public. Revel stations offer up to 320 kW charging with CCS, CHAdeMO, and NACS connectors, 24/7 public access, and fleet partnerships including Uber driver discounts. In March 2026 Revel raised $150M Series B per industry coverage. In May 2026 Revel and EQT-backed Voltera agreed to combine under the Voltera brand, led by Revel CEO Frank Reig, creating a platform expected to exceed 1,000 charging stalls across 11 U.S. metro markets.

Why Revel is interesting

Revel proved urban fast-charging utilization can exceed 45% when fleets need it—then merged with Voltera for 1,000+ stalls across 11 metros. The ride-hail experiment is over; infrastructure for robotaxis and Uber drivers is the bet now.

Product & use cases

Revel builds and operates urban DC fast-charging depots with multi-stall sites near airports, rideshare hubs, and dense neighborhoods. Drivers use the Revel app for session start, pricing, and availability; fleet and rideshare programs offer partner rates and uptime-focused layouts.

• Rideshare and delivery drivers needing fast turnaround charging in NYC and SF
• Personal EV owners without home charging in dense urban neighborhoods
• Commercial fleets requiring predictable urban charging access and uptime
• Future robotaxi and autonomous fleet depots via combined Voltera platform

Key facts

• Series B (Mar 2026): $150M reported for charging expansion
• May 2026: definitive merger with Voltera; combined brand Voltera, CEO Frank Reig
• Ride-hail service permanently closed Aug 2025; pivot to charging-only
• 100+ live NYC stalls; plan for 400+ stalls in NYC, LA, SF by end-2026
• Network utilization rose from 21% (2023) to 45% (2025) per TechCrunch
• NY state $60M loan to triple public fast-charging capacity (prior program)

Funding history (newest first)

Competitive landscape

Edge: Early-mover density in NYC—largest public fast-charging operator there—with real utilization data from former fleet operations informing site selection and depot design.

Urban fast charging is capital-intensive but defensible where interconnection queues and real estate are scarce. Revel's Voltera merger scales development expertise with operating footprint—competing on fleet utilization, not consumer apps.

• Tesla Supercharger direct

  Expanding third-party access; Revel/Voltera targets fleet-dense urban sites Tesla may underserve.

• EVgo direct

  National fast-charging network; competes for urban stall economics and fleet contracts.

• ChargePoint direct

  Hardware + network player; Revel operated owned depots rather than franchised model.

• Electrify America direct

  Highway-oriented network; less NYC urban depot density than Revel built.

Notable stories

• Revel shut down four years of ride-hail service in August 2025, telling users charging infrastructure "our biggest cities need" was the higher-impact path (TechCrunch).
• By early 2025 only 12% of Revel charger utilization came from its own fleet—Uber partnership and public drivers drove 45% network usage, validating third-party revenue (TechCrunch).

Industries

Related funding articles

Venture Capital Tracker pieces that cover Revel's financing or category context.

• Revel's $150M Series B: EV Ride-Hail + Fast Charging Is a Real Business Model