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.
Energize Capital co-led the round with GreenPoint Partners and Denmark’s state-backed Export and Investment Fund. The Series B also included participation from returning investors Headline, byFounders, AENU, Creandum, and new investor Quantum Light.
Monta will leverage this investment to strengthen product R&D, expanding its partner network across all markets.
Monta’s platform assists hardware manufacturers in optimizing their products by enabling them to benchmark charge point brands, provide insights into usage and performance, and speed up troubleshooting and maintenance time.
“EVs and charging infrastructure are a cornerstone of the global shift towards decentralized electrification, and Monta’s software platform is the backbone enabling this critical transition in energy and mobility,” said Casper Rasmussen, CEO and founder of Monta. “Our differentiator is that we take on the entire value chain of the EV charging market – from the grid to hardware to business and drivers – with a tool that streamlines and simplifies charging operations for all participants, bridging the gap between energy providers and end users.
“The market for electric vehicle charge points continues to expand on an impressive trajectory – over 40% annual growth – and is demanding a modern solution to manage the increasing volume and complexity of touchpoints between electric vehicles and charging infrastructure,” said Juan Muldoon, partner at Energize Capital and a member of Monta’s board of directors.
According to Mercom’s recently released 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, Monterra, an electric vehicle (EV) charging software company, secured $2.5 million in a pre-seed funding round led by Base10 Partners, and with participation from Future Climate Venture Studio, Very Serious Ventures, and a handful of other angel investors, including some of Monterra’s early customers.