Solar and Storage Developer Nexamp Secures $520 Million

Daze, a provider of EV charging solutions, secured €15 million (~$16.1 million) in Series A funding led by CDP Venture Capital through the EnergyTech compartment of the Corporate Partners I fund and the Green Transition fund, which utilizes resources allocated by the European Union through the NextGeneration EU initiative.

Other participants include the EIC Fund, managed by the European Innovation Council, the Venture Capital Fund managed by SIMEST on behalf of the Ministry of Foreign Affairs and International Cooperation, and specialized funds like Founders Future, Prana Ventures, and 035 Investimenti.

With the amount raised, the company plans to consolidate its presence in Spain and France and expand into new European markets and beyond. Daze aims to complete its range of chargers for private and public use while introducing a series of products and services. The new technologies will range from automatic charging systems (Comfort Charging) to bidirectional charging (Vehicle to Home and Vehicle to Grid), as well as new services to optimize energy costs directly on utility bills.

The €15 million (~$16.1 million) investment round also includes an equity crowdfunding campaign through the Mamacrowd portal for up to €1.5 million (~$1.6 million).

“Our encounter with Daze immediately led to a great synergy: their project to develop new state-of-the-art wallboxes for home charging demonstrates a future-oriented vision, with a strong technological imprint and a focus on sustainability that could redefine the way the general public interacts with electric mobility,” comments Marino Giocondi, Senior Partner and head of the Corporate Partner I fund at CDP Venture Capital.

According to Mercom’s Annual and Q4 2023 Funding and M&A Report for Storage & Smart Grid. VC funding in the Smart Grid sector decreased 55% YoY, with $1.5 billion in 47 deals in 2023 compared to $3.3 billion in 46 deals in 2022.

Recently, Monta, an EV charging solutions provider, announced the close of an €80 million (~$87 million) Series B financing round, bringing the company’s total funding to €130 million (~$142 million) in three years. Monta will leverage this investment to strengthen product R&D, expanding its partner network across all markets.