Funding from Magnetar, Pulse Fund, and Pritchard Auto Company will enable the vertically integrated OEM to scale production

February 11, 2025 10:00 AM Eastern Standard Time

OTTAWA, Ohio–(BUSINESS WIRE)–Endera, a rapidly growing technology and manufacturing leader in the electric bus market, announced today that it has secured $49 million in its latest funding round. The round includes a $36M equity investment led by Magnetar, a global multi-strategy alternative asset manager, with participation from Pulse Fund—whose founder, Tenzin Seldon, has joined Endera’s board of directors—and Endera’s longtime strategic partner, Pritchard Auto Company. The total also includes a $13M credit facility. This funding will enable Endera to scale manufacturing of its electric shuttle and school buses, expand its product line, and create new American jobs at its world-class production facility in Ohio.

As the only vertically integrated American OEM of class 4 electric shuttles and school buses, Endera has built a reputation for delivering high-quality vehicles coupled with complete technology solutions. By leveraging its successful legacy internal combustion engine (ICE) manufacturing business, the company has transitioned into one of the fastest-growing leaders in the EV space, providing complete systems that address the growing demand for zero-emission specialty vehicles, particularly for the underserved government sector.

“This investment will support our mission to revolutionize the specialty vehicle industry and accelerate the transition to clean mobility,” said Endera CEO and founder John Walsh. “At a time when America needs to prioritize domestic manufacturing and sustainability, Endera is leading by example—creating jobs, driving economic growth, and providing cost-effective solutions all while advancing American ingenuity.”

Endera offers fully customizable ICE and EV shuttles and school buses to achieve best-in-class reliability, safety, and quality, along with a proprietary powertrain that achieves the longest range and fastest charge time available. Endera has coupled this with an in-house fleet management software that features real time insights tailored to the transit sector, which includes a rider app and streamlined service response in one integrated platform. To date, the company has delivered the largest deployment of electric shuttles at a US airport and has been selected as a low-bid vendor for the CalAct contract, the largest state EV bus contract in US history.

“We see both commercial and climate value in Endera’s vertically integrated approach because it enables them to respond to customer needs with speed and precision,” said Tenzin Seldon, Founder & Managing Partner of Pulse Fund. “By offering a holistic solution, they’re not just filling in gaps in the commercial EV market but solving challenges at every level. We’re excited to support their next phase of growth and contribute to the broader push for nationwide electrification.”

Endera, founded in California in 2019, made the strategic decision to manufacture in Ohio at its 250,000 square foot production facility, a former Philips plant, tapping into a skilled workforce and helping to revitalize the Rust Belt by creating sustainable, clean-energy jobs. The company has increased its production output 20-fold since acquiring the former Winnebago Metro Titan group in 2021.

About Endera

Endera is a pioneering specialty vehicle company specializing in high-quality shuttle and specialty needs school buses, distinguishing itself as America’s only vertically integrated EV OEM. Endera is a technology company specializing in smart electric specialty buses, charging stations, and software solutions. As an end-to-end specialty vehicle maker, Endera provides vehicle design, manufacturing, and technology. Made in America, Endera delivers one of the lowest total costs of ownership over other commercial electric vehicles and provides sustainable solutions that rival its fossil fuel counterparts in price, technology, longevity, profitability, and service. For more information, visit: www.enderamotors.com.

About Pulse Fund

Pulse Fund is a venture capital fund investing in high-growth climate companies. The team brings together a unique blend of investment and climate science expertise to identify long-term opportunities that drive capital, innovation, and tangible climate progress.

Contacts

Media Contact
Whitney McGoram, Whitney@alderagency.com
(202) 525-0606

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