Scalvy's Updates up to September 2023
The Modular Electric Powertrain Startup
If you receive this newsletter, it simply means that we connected over the past months over Scalvy, and I am keeping you updated on our progress!
This is Scalvy’s updates and progress, a newsletter to update Scalvy’s followers on the company’s progress and updates on three different fronts:
1- Product Progress:
Scalvy’s product is a smart, software-defined powertrain module (SIM) to simplify integration, reduce cost, and increase electric mobility applications' efficiency, reliability, and performance.
Our team built early samples to validate the technology and showcase the performance advancements over the present technologies in the market.
Scalvy started system demos to some of our potential customers and partners from the largest OEMs and Tier-1 suppliers, as shown below.
We are now preparing for our last set of high-power demos to some of our customers, and then we will start providing them with early paid samples.
2- Customers’ traction:
We have had strong traction with many electric mobility OEMs as potential customers, early adopters, and Tier-1 suppliers as commercialization and manufacturing partners.
We have an MOU in place with one of the most prominent electric mobility players, while we are actively negotiating JDAs and evaluation agreements with some of the largest Tier-1s and OEMs.
We are also entering several commercialization agreements with low- to mid-volume players.
Scalvy has won one federal grant and one state grant to provide its technology to the aviation industry (eVTOLs and UAVs) and medium- and heavy-duty electric vehicles.
3- Investment Round:
We successfully closed our first VC round a couple of months ago, led by one of the strongest early-stage Climate Tech VCs and joined by a fantastic group of VCs and Angels with deep ties in the electric mobility space. I will share more details on my LinkedIn page.
I look forward to staying connected with you, as many exciting announcements are in the works.
BR,
Mohamed Badawy