Nikola Labs raises $20M VC round to speed growth among manufacturer clients

A worker smiles next to the Nikola Labs logo.

Fast-growing Westerville startup Nikola Labs has raised $20 million in venture capital to add features and speed deployment of its sensor system that saves manufacturers costly downtime.

G2 Venture Partners, which was founded by veterans of VC firm Kleiner Perkins, led the Series A, with participation by Triangle Peak Partners. Both are based in Silicon Valley.

Nikola more than bounced back from grinding to a halt early in the pandemic: 2021 sales were more than five times that of 2020.

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Story excerpt provided by Columbus Inno.

Written by Carrie Ghose.

Originally published May 20, 2022.

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