Phoenix Mobility secured €3M in debt and equity raised from Angel Square, Meta Partners and angel investors from France.

Phoenix Mobility, a Grenoble, France-based startup developing and manufacturing modular powertrains and vehicle conversion platforms, announced securing a financing round of €3M.

The money is a combination of debt (1 million) from BPIFrance and local banks and €2M ($2.3M) in equity raised from the Angel Square and Meta Partners network.

Phoenix Mobility, founded in 2018 by Filip Gardler and Wadie Maaninou, develops technology used to retrofit and convert internal combustion vehicles to electric. By giving a second life to existing vehicles rather than sending them to be scrapped, company is accelerating the energy transition of fleets at a lower cost while avoiding the CO2 emissions linked to the production of a new EV.

Phoenix Mobility specializes in the development of standardized and modular conversion solutions for utility vehicles  (LCVs and vans) and bodywork and special vehicles (tow trucks) for VSEs / SMEs, large groups and communities.