Workhorse Group

company

About

Workhorse Group is a manufacturing company that offers vehicle and aerial logistics solutions, transforming the way people receive packages.

Details

Last Funding Type
Grant
Last Funding Money Raised
$115K
Industries
Automotive,Battery,Delivery,Electric Vehicle,Machinery Manufacturing,Manufacturing
Founded date
Nov 13, 2007
Number Of Employee
101 - 250
Operating Status
Active
Stock Symbol
nasdaq:WKHS
Legal Name
Workhorse Group Incorporated
Also Known As
AMP Holding ,Title Starts Online,AMP Electric Vehicles,Workhorse Custom Chassis

Workhorse Group designs and produces battery-electric power trains for its new Workhorse chassis. Workhorse’s approach to building its battery electric power trains uses proven, automotive-grade, mass-produced parts coupled with its custom designed, proprietary control software. Workhorse Group is an original equipment manufacturer of class 3-6 Workhorse brand medium-duty truck chassis. Its assembly plant enables it to build the tried and true W62 chassis and the new, narrower-track W88 chassis at price points and performance specifications sure to be attractive to fleet purchasers.

The company's product, The HorseFly™ UAV Delivery system, is a custom built, high efficiency octocopter-based delivery UAV that is fully integrated with electric delivery trucks. It follows the FAA guidelines for UAV operation. The system is designed such that a driver or driver’s assistant can maintain line-of-sight operation of the UAV delivery process.

Workhorse Group was founded on 2007 and is headquartered in Loveland, Ohio.

Funding Rounds

Number of Funding Rounds
Total Funding Amount
10
$347.74M
Workhorse Group has raised a total of $347.74M in funding over 2 rounds. Their latest funding was raised on Nov 10, 2022 from a Grant round.
Announced Date Round Money Raised Number of Investors Lead Investors Post Valuation
Nov 10, 2022 Grant $115K 1 Michigan Economic Development Corporation Detail
Oct 12, 2020 Post-IPO Debt $200M Detail
Jun 30, 2020 Post-IPO Debt $70M Detail
Nov 22, 2019 Post-IPO Equity $41M Detail
Jun 10, 2019 Post-IPO Equity $25M Detail

Investments

Number of Investments
Number of Lead Investments
1
1
Workhorse Group has made 1 investments. Their most recent investment was on Nov 22, 2022, when Tropos Technologies raised $10M.
Date Company Name
Round Money Raised Industry Lead Investor
Series B $10M Automotive Yes

Investors

Number of Lead Investors
Number of Investors
2
2
Workhorse Group is funded by 2 investors. Michigan Economic Development Corporation and Arosa Capital Management are the most recent investors.
Investor Name Lead Investor Funding Round
Michigan Economic Development Corporation Yes Grant
Arosa Capital Management Yes Post-IPO Debt

Employee Profiles

Number of Employee Profiles
8
Workhorse Group has 8 current employee profiles, including Executive Richard Dauch
Executive
Board member
Executive
Executive
Employee