Faction Raises New Funding Round
Summary
Faction Technology, Inc., a San Francisco, CA-based driverless-vehicle technology developer that reimagines urban transportation and micro-logistics, raised a new funding round of undisclosed amount. The company intends to use the funds to target customer expansion over the last quarter of 2023 and throughout 2024. Founded in February 2020 by Ain McKendrick, CEO, Faction develops driverless solutions based on light electric vehicles. Its driverless vehicles incorporate the affordability and maneuverability of motorcycles with the speed and performance of cars to create small-scale delivery vehicles that will clear the way for smarter cities and a more sustainable tomorrow. The company has assembled an experienced team previously responsible for the launch of driverless vehicles ranging from light EVs to full-size semi-trucks.