Plug, the marketplace built for buying and selling electric vehicles, announced $20 million in Series A funding led by Lightspeed with participation from Galvanize and existing investors Autotech Ventures, Leap Forward Ventures and Renn Global.

Plug is emerging as a core infrastructure layer for the rapidly expanding used EV market. Since its 2024 launch, the marketplace has facilitated more than $60 million in used EV sales, and in Q4 2025, the company sold more electric vehicles than it did during all of 2024.