AMPECO, a software platform for electric vehicle (EV) charging solution providers, raised $26 million in a series B funding round led by Revaia, along with existing investors Cavalry Ventures, BMW i Ventures, and LAUNCHub Ventures.
The latest round brings the company’s total funding to $42 million. The funding will be used to fuel the company’s growth plans while accelerating product enhancements and expanding into key markets like Western Europe, the Nordics, the UK, North America, and Southeast Asia. The company also aims to double its team size in the next two years.
AMPECO provides a white-label EV charging management platform enabling energy companies, charge point operators, and e-mobility providers to launch their operations under their brand and deliver customized EV charging solutions. The platform offers a backend system, a web portal, and a mobile app designed for drivers. The company states that its platform connects over 120,000 charging stations.
“With this funding, we’re poised to further drive innovation in EV charging management software, helping our clients build and scale robust charging networks that will accelerate the global transition to electric mobility. The positive market feedback has reinforced our vision for 2025 as we prepare to launch new platform capabilities focused on operational excellence and network scalability,” said Orlin Radev, CEO of AMPECO.
According to Mercom’s 9M and Q3 2024 Funding and M&A Report for Energy Storage and Smart Grid, VC funding across all Smart Grid companies in 9M 2024 totaled $1.4 billion in 43 deals, 13% higher year-over-year than the $1.2 billion raised in 37 deals in 9M 2023.
Last Week, Iontra, a Colorado-based battery charging solutions provider for electric vehicles and residential energy storage systems, raised $45 million in a Series C funding round. The company has raised $120.3 million through funding so far.
