
Work Here?
Plug Technologies runs an online wholesale auction marketplace focused on used electric vehicles. Dealers, consignors, and fleet operators across the United States buy and sell EVs through an EV-exclusive auction, with most items receiving market-rate offers within 24 hours, and the platform collects EV-specific data (battery health, software-enabled features, hardware, tax credits, and charging network access) from the vehicles to inform listings. Its edge comes from proprietary, vehicle-derived data that traditional auctions do not provide, plus the Trade Desk service that offers guaranteed cash offers or auction pricing to monetize EV trade-ins. The goal is to make EV remarketing more accurate and efficient by connecting dealers who specialize in EVs with those receiving EVs as trade-ins but lacking EV-specific selling expertise.
Industries
Data & Analytics
Automotive & Transportation
Enterprise Software
Company Size
51-200
Company Stage
Series A
Total Funding
$26.7M
Headquarters
Culver City, California
Founded
2023
See people who can refer or advise you
Help us improve and share your feedback! Did you find this helpful?
Total Funding
$26.7M
Above
Industry Average
Funded Over
2 Rounds
Industry standards
Health Insurance
Vision Insurance
Dental Insurance
Unlimited Paid Time Off
Meal Benefits
Stock Options
Company Equity
The week's dealflow: february 6, 2026. ImpactAlpha's deal news coverage for the week: Data centers. Remarkable Ventures Climate, New Climate Ventures and 4impact capital backed a $3.3 million seed round for New York-based Lucend (formerly Coolgradient), which uses AI and data to bring transparency to data center operations. Development finance. Dutch development bank FMO made a 340 million rand ($20 million), local currency investment in South Africa-based digital small business lender Lula... Brazil's Eco Invest program mobilized $53 billion reais ($10.6 billion) in sustainable investments with the support of the country's National Treasury to crowd in private investors. Electric vehicles. GoCab raised $45 million in equity and debt to expand electric vehicle financing... Plug, a California-based marketplace for buying and selling pre-owned electric vehicles, raised $20 million in Series A funding from Lightspeed Venture Partners, Galvanize Climate Solutions, Renn Global and Autotech and Leap Forward ventures. Energy transition. Lunar Energy, a California-based maker of household battery systems launched by former Tesla Energy head Kunal Girotra, raised $102 million in a round led by B Capital and Prelude Ventures... Swen Capital Partners reached a €440 million ($480 million) close for its third transition fund, which invests in renewable gas and molecule production in Europe and North America. Fund news. Apis Partners' third Apis Growth Fund secured $80 million from the European Investment Bank to invest in companies driving financial inclusion in Asia and Africa... BNDES committed $850 million to seven climate funds in Brazil... Daphni raised €260 million to commercialize scientific research in Europe... Tokyo-based GLIN Impact Capital launched a 20 billion yen ($130 million) fund to invest in startups in healthcare, climate, fintech, education and other impact sectors. Green Infrastructure. Oslo-based Verdane and Scott Capital Partners took a majority stake in UK-based Bluewater Bio, a tech company supporting water reuse and wastewater treatment... Power Sustainable's infrastructure credit strategy reached $1 billion in committed capital. Inclusive finance. Afrishela provided revenue-based and impact-linked financing with a gender lens... Suzuki Motor's impact arm invested in India's traditional artisans. Investing in health. Barnwell Bio landed $6 million to detect bird flu and other poultry threats... Goodwater Capital, Foresite Capital, Serena Ventures, Emerson Collective and others invested $100 million in Midi Health to provide perimenopause and menopause telehealth services to women in the US... Yosemite, a biotech venture fund that focuses on new cancer treatments, raised $200 million. The firm is run by Reede Jobs, son of Steve Jobs, who died of pancreatic cancer. Reede's mother, Laurene Powell Jobs, invested in the fund via Emerson Collective, alongside Amgen, Memorial Sloan Kettering, MIT and others. Low-carbon transition. Amazonia Impact Ventures invested in Ecotierra's carbon projects in Brazil... Seattle-based Mast Reforestation made its first sale of biomass-based carbon removal credits to the Royal Bank of Canada, CNaught and others. Plant based. University of Cambridge spin-out Sparxell raised €4.2 million ($5 million) in pre-Series A funding led by Swen Capital Partners for its plant-based pigments for textiles, packaging and cosmetics.
Plug, a marketplace for buying and selling used electric vehicles, has raised $20 million in Series A funding to expand its operations. The company provides dealers with wholesale valuations and cash offers using proprietary insights, real-time market data, battery health intelligence and VIN-level vehicle information. Founder and CEO Jimmy Douglas said approximately 1.1 million used EV lease returns worth $3 billion are projected to reach dealer lots over the next three years. Since launching in 2024, Plug has facilitated over $60 million in used EV sales, with fourth-quarter sales exceeding all of 2024. The funding will help Plug expand its supply pipeline and develop proprietary technology for EV evaluation. Douglas aims to increase transaction volume 100-fold over the next three years as the used car market tracks towards $1 trillion by decade's end.
Plug, an electronics reseller, has received an investment from a public company valued at $11.9 billion.
Plug, an EV-exclusive wholesale auction platform, secured $6.7M in seed funding led by Floodgate Autotech Ventures. The company launched Trade Desk, the first EV-focused trade-in solution, helping dealers price and sell EVs. Since early 2024, Plug has facilitated over $15M in used EV sales. Trade Desk uses proprietary tech to provide accurate EV pricing, offering dealers a guaranteed cash offer or auction sale. Plug serves over 400 dealers, enhancing EV market engagement and profitability.
Global Connectivity PLC (GCON) has increased its stake in PLUG Group Limited by investing an additional £50k, acquiring new shares at £2.00 each, raising its total holding to 6%. This investment keeps PLUG's valuation at £2.5 million. PLUG will start operations with Telefonica Brazil in June 2025. Additionally, Tiger Infrastructure has invested £14.5 million into RBSHL, with £8.7 million going to Voneus. GCON's stake in RBSHL is now 2.8%.
Find jobs on Simplify and start your career today
Industries
Data & Analytics
Automotive & Transportation
Enterprise Software
Company Size
51-200
Company Stage
Series A
Total Funding
$26.7M
Headquarters
Culver City, California
Founded
2023
Find jobs on Simplify and start your career today