Endera Secures $49M Funding to Accelerate Electric Bus Manufacturing

Endera, a prominent player in the electric bus market, has successfully raised $49 million in its latest funding round. The round includes a $36 million equity investment led by Magnetar, a global multi-strategy alternative asset manager. The funding comprises a $13 million credit facility, which will be utilized to scale manufacturing of electric shuttles and school buses, expand product offerings, and create new jobs at its production facility in Ohio.

Endera, the only vertically integrated American OEM of class 4 electric shuttles and school buses, is renowned for delivering high-quality vehicles and complete technology solutions. Leveraging its successful legacy internal combustion engine (ICE) manufacturing business, the company has become one of the fastest-growing leaders in the EV space, meeting the growing demand for zero-emission specialty vehicles.

The funding will support Endera's mission to revolutionize the specialty vehicle industry and further the transition to clean mobility. Endera offers fully customizable ICE and EV shuttles and school buses, featuring best-in-class reliability, safety, and quality, along with a proprietary powertrain that achieves the longest range and fastest charge time available. The company also provides in-house fleet management software tailored to the transit sector, including a rider app and streamlined service response in one integrated platform. Endera has delivered the largest deployment of electric shuttles at a US airport and secured a significant state EV bus contract.

Endera, founded in California in 2019, chose to manufacture in Ohio, tapping into a skilled workforce and contributing to the revitalization of the Rust Belt by creating sustainable, clean-energy jobs. The company has significantly increased its production output since 2021. Endera is America’s only vertically integrated EV OEM, specializing in smart electric specialty buses, charging stations, and software solutions. The company provides vehicle design, manufacturing, and technology, offering sustainable solutions that rival fossil fuel counterparts in price, technology, longevity, profitability, and service.