Eytan Lenko’s new philanthropic VC, Boundless, and Canva’s Cameron Adams, back imported EV startup in $10 million raise

Zero emissions activist and investor Eytan Lenko has made the first investment from his new philanthropic venture, Boundless, committing $10 million to second-hand electric vehicles (EVs) importer, The Good Car Company.

Canva co-founder Cameron Adams and his wife Lisa Miller also tipped in an additional investment into the Tasmanian-based EV importer.

Melbourne-based Boundless, which is also backed and chaired by Atlassian founder Mike Cannon-Brookes, is focused on investing in Australian climate-focused startup to grow at scale and speed.

The Good Car Company imports pre-owned and new EVs from the UK and Japan. Co-founder Anthony Brose van Groenou said the investment will see the business ramp up its imports tenfold, from around 200 to 2,000, a year.

“This boosted capacity to add 2,000 more affordable EVs to the Australian marketplace annually will have the transformative impact in Australian communities that we need,” he said.

“We delivered Australia’s first community EV bulk buy in 2019 and every year we witness more and more people wanting to transition to EVs and the opportunities they unlock. Australia is comparatively underserved by availability and affordability of EVs – We’re excited that our community model has been recognised as a great way to change that.”

The new and second-hand EVs imported by The Good Car Company come with battery warranty, recall notifications servicing and roadside assist, from small cars to light commercial with vehicles starting at $20,000.

The EVs on the list include the Nissan Leaf in 30kWh, 40 kWh and 62kWh variants, Nissan eNV200 40kWh electric van, and Peugeot e-expert 75kWh electric van. New EVs are available for fleet purchase, such as the Polestar 2, and Hyundai Kona.

Eytan Lenko

Brose van Groenou said the additional cars will be available for purchase online web from early 2023 and vehicles will also be available through a national series of community-based “bulk-buy” campaigns.

Boundless CEO Eytan Lenko said the $10 million puts the company in a great position to catalyse further capital.

“At Boundless, our investments, initiatives, and partnerships are focused on ensuring Australia becomes a renewable energy superpower by 2030,” he sai.

“With transport accounting for 18% of Australia’s emissions, we knew our first priority had to be bridging the growing gap between demand for EVs among Australians and the supply available within an attainable price point. The Good Car Company is a perfect fit, and we’ve been impressed by their continued advocacy towards investment in the EV industry as a whole.”

Canva’s Cameron Adams said he was pleased to support cofounders Anthony Broese van Groenou, Anton Vikstrom and Sam Whitehead.

“It was incredibly exciting to meet a trio of entrepreneurs tackling climate change and electrification in our own backyard, and we have been enthusiastic supporters ever since,” he said.

“The Good Car Company’s commitment towards action and changing the current state of play one car at a time is exactly what Australia needs right now.”