Elemental Announces First Scale-Up Project Award to Transportation Startup Serving Transit Deserts
Elemental Excelerator, a nonprofit investor in climate technology for social change, announced its first scale-up project investment in Dollaride to unlock funding to scale its mobility technology for transit deserts in its New York market and nationally. Dollaride is the initial beneficiary of Elemental’s recently announced infusion of $30 million in catalytic project funding for 5-15 projects with significant climate and community impact. The deeper investment was announced at the nonprofit’s flagship event, Elemental Interactive and ties to Elemental’s commitment to bring more funding, more projects and more impact into the climate sector to scale technologies to more communities in an equitable way.
“Elemental has been leaning into early project deployments and working to catalyze more investment in climate technology for more than a decade,” Elemental Founder & CEO Dawn Lippert said. “Our deeper investment in Dollaride is just the start of our deeper investments into scale-up projects –
we have a dozen more investments in climate technology to help ensure that underserved communities experience the benefits of technology first, not last.”
self-determination, environmental justice and community development for drivers and residents alike
Dollaride will receive $500K to deploy 3-5 electric vehicles and chargers to advance the organization’s Clean Transit Access Program.
“These vans are not just an electric transport to get commuters from point A to point B. These vehicles unlock access to fresh food, clean air and quality medical care,” Dollaride CEO Su Sanni said. “The funds from Elemental will allow us to try out a handful of new electric vans before purchasing 100 in a couple months. The funds provide us the opportunity to ensure we smooth out logistics so we can quickly scale and serve more in New York and beyond by offering a cleaner ride as the way forward.”
Nearly 2 million New Yorkers live in transit deserts, which are categorized as areas with limited transportation. The majority of these communities are made up of low-income citizens. The health hazards of living in a transit desert can be severe. Dollaride’s Clean Transit Access Program will provide affordable electric shuttle buses as well as charging infrastructure to certified commuter van drivers operating in disadvantaged communities throughout New York City and was awarded under the $85 million New York Clean Transportation Prizes program in November 2022.
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