Workhorse, a company that manufactures drone-integrated electric delivery vans, has raised $200 million from two institutional lenders. The company will use the money to increase supply chain volumes, hire manufacturing employees and automate sub-assembly processes. Workhorse’s all electric, zero emissions delivery vans are popular among companies working to deliver products their last mile.
In addition to its low-floor-design delivery vans, the company also makes a proprietary telematics system that allows customers to track and monitor the performance of its vehicles. The system lets customers collect data to manage route planning, maintenance and fuel costs. The company will also accelerate production of a refrigeration truck for grocery delivery.