Sydney-based Vyro has officially turned the lights on at its online showroom for electric vehicles (EVs) following a seed round that charged the startup’s batteries up with $1 million of capital.
Led by Antler Australia and Ellerston Capital, the seed round is Vyro’s second tryst with fundraising and will help launch its website before scaling the company’s operations.
Prominent angel investors including Black Nova Venture Capital managing partner Matthew Browne, Archangel Ventures co-founder and partner Quentin Wallace and Battery Future Acquisition Corp co-founder and COO Joshua Payne also joined the seed round.
The company’s platform is a one-stop-shop for those looking to buy an EV in Australia, and even allows customers to trade in their fuel-powered vehicle for credit toward the purchase of a car sold by Vyro.
Vyro also features a comparison tool on the site where users can browse and purchase in one spot. A partnership with lending fintech Plenti also offers customers a competitive finance option.
The site launched yesterday to the public and more than 1,000 customers who signed up to the pre-launch waitlist, keen to check out Vyro’s online showroom which sells EVs like Volvo’s 2022 XC40 Recharge model, the Polestar 2 and Hyundai’s 2022 Kona Electric.
“We’ve obviously thrilled to have such an amazing group of investors come on board as part of our successful Seed capital raise,” Vyro co-founder and CEO Will Wise said.
“Spiking petrol prices are underlining a reality most Australians already see - the future for passenger vehicles in Australia is electric.
“The team at Vyro believe it’s time for a smooth, 100 per cent digital electric vehicle buying journey, with affordability and transparency at the forefront of every sale.”
Antler APAC managing partner Bede Moore said Vyro was leading the charge when it comes to transitioning Australians toward an EV future.
“Accelerating Australia’s transition to sustainable mobility, Vyro is at the forefront of rethinking the way consumers purchase and use electric vehicles. Antler is thrilled to back its rapid expansion with this follow-on investment,” Moore said.
“In less than a year, Vyro has demonstrated tremendous traction within the electric vehicle sector.
“As Vyro scales its efforts to help Australians overcome the barriers of electric vehicle ownership and use, Antler will continue to support the team on each step of the journey.”
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