[Background Image: City of McKinney]
Xcelerate Auto, a fintech that focuses on the electric vehicle market, is moving its headquarters to McKinney with a boost from the McKinney Economic Development Corporation’s (MEDC) Innovation Fund.
Xcelerate’s home base will sit on Davis Street at Dallas-based Common Desk’s newest coworking space, where a number of other tech companies are also looking at moving into, according to the MEDC.
Xcelerate offers funding support and ancillary products to EV manufacturers like Tesla. As a sustainable transportation company, Xcelerate focuses on consumer and commercial lending and warranty products for EVs and autonomous fleet tech.
The startups acts as an “alternative to traditional vehicle purchasing, leasing, and management.” Recently, it launched its flagship product, X-Care EV Protection, a vehicle service agreement that covers Tesla vehicles for up to 175,000 miles. According to Xcelerate, the agreement is the first of its kind.
Xcelerate aims to grow exponentially in the expanding EV market. Currently, electric vehicles make up around 2 percent of the vehicle market. But public charging and technology is continually improving—leaving “ample room” for the startup to make its mark.
The company says the sustainable vehicle market is expected to reach 233.9 million units globally by 2027. By 2025, 20 percent of all new cars sold are projected to be electric.
“We’re so excited to partner with Xcelerate Auto on their relocation to McKinney,” Mike DePaola, director of technology and research at the MEDC, said in a statement. “The Xcelerate team has been great to work with and we’re looking forward to seeing them scale.”
With the move, Xcelerate Founder and CEO K.J. Gimbel plans to offer charging infrastructure and community events to the McKinney community. He sees the area “becoming a destination for consumers and business to transition into the sustainable future.”
Gimbel and his team “can’t wait to put McKinney on the EV map.”
The Innovation Fund continues to boost tech in McKinney
The MEDC Innovation Fund was designed with companies like Xcelerate in mind. The initiative aims to spur and accelerate the growth of innovation-focused companies in the area during the timeliest need of their life cycle. Despite the ongoing pandemic, the MEDC has been landing tech startups at warp speed.
We previously told you about:
• Blockit, a healthcare SaaS company;
• EnginSoft, an engineering company in the field of computer-aided engineering (CAE);
• CourMed, a crowdsourced healthcare delivery platform;
• MyTelemedicine, a virtual platform that provides the healthcare industry with technology and an extensive API suite;
• Invene, a healthcare software development startup that was based in UTD’s Venture Development Center;
• Aiotics, an AI startup that makes scalable, easy-to-use solutions;
• Falkon Technologies, a custom software development company;
• Alanna.ai, an SaaS startup that aims to simplify land and title transactions; and
• Robin Autopilot, a robot tech company.
All used grants from the Innovation Fund to scale or relocate in McKinney.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
-
The young startup, which makes scalable artificial intelligence solutions, is using a grant from the McKinney Economic Development Corporation’s Innovation Fund to establish a headquarters in McKinney and drastically add to its team.
-
The EdTech marketplace and PaaS startup will expand its HQ with a grant from the McKinney Economic Development Corporation's (MEDC) Innovation Fund. The startup connects learning resource buyers and sellers in 7,000 languages and dialects. The woman-owned and minority-led company says it's "empowering micro-entrepreneurs to reach their customers globally."
-
The Women of Innovation Summit will take place on Aug. 4 at Southern Methodist University’s McFarlin Auditorium during Dallas Startup Week, powered by Capital One. Women are encouraged to bring their whole work teams and even friends to make the most of a day of growth and development.
-
The U.S. Innovation and Competition Act, which passed in May, has the power to develop 20 tech hubs throughout the United States. According to Tech Titans' CEO Bill Sproull, Dallas-Fort Worth could be a strong contender for one of those spots.
-
Waymo is scaling up in Texas with a new trucking hub in Lancaster; Dallas beats out Tokyo on the global list of "Top 10 Investable Cities"; PNC sets up deb capital markets hub in Dallas; Jacobs awarded a $235M contract with the U.S. Army's 902nd Military Intelligence Group; 7-Eleven begins Minibar alcohol delivery; and more news from North Texas. Plus, you’ll find our top 10 most popular stories.
https://ift.tt/3mcSh3h
Auto
Bagikan Berita Ini
0 Response to "EV Fintech Xcelerate Auto Relocates Headquarters to McKinney » Dallas Innovates - dallasinnovates.com"
Post a Comment