News Summary

Presto, a startup founded by former Uber employees Ashwin Dias and J.J. Raynor, aims to revolutionize the electric vehicle (EV) charging industry. The company has developed a platform that connects fleet drivers with optimal charging stations, addressing issues such as broken chargers and unresponsive touchscreens. Presto recently secured a $15 million seed round led by Union Square Ventures, with participation from Congruent Ventures, Jetstream, and Powerhouse Ventures. The platform offers an app and API to facilitate seamless connections between fleets and charging networks, akin to what Stripe does for financial transactions. Presto’s early users include rental car companies like Hertz, Avis, and ZipCar, as well as Uber drivers, who benefit from discounted charging. The startup’s main focus is on API integration, allowing fleets to incorporate Presto’s recommendations into their own systems.