The Mobility House, a provider of EV charging and energy management solutions, announced it had raised $50 million in a Series C Funding round led by Mercuria and co-led by Ventura Capital and Green Gateway Fund.

Other strategic investors include Mercedes-Benz, Alliance Venture, Mitsui, and SP Group.

“We see The Mobility House as the leading global software platform monetizing electric vehicle batteries, providing grid stability and storage services to a 100% renewable energy and transport system, with the potential to save over 5% of global CO2 emissions,” said Jochen Wermuth, founder of Green Gateway Fund

The company plans to use the new funds to expand technology development efforts and its market position in the field of electric vehicle smart charging in Europe, North America, and Asia. The technology was recently implemented for a 6.5 MW microgrid facility at Brookville Smart Energy Bus Depot in Montgomery County, Maryland, where ChargePilot coordinated charging with the microgrid by optimizing the buses’ charging schedules based on route blocks and energy demands to ensure vehicle readiness.

“We are delighted about the trust that our existing investors have placed in us. In recent months, it has become increasingly clear: the market for smart charging and V2G is there and developing rapidly. It also has incredible economic and environmental potential for us to tap into,” said Robert Hienz, CEO of The Mobility House. “We have the technology ready to cater to and significantly shape this market and are already well-equipped for the future continued development of our products.”

According to Mercom’s 9M And Q3 2022 Funding and M&A Report for Storage, Grid & Efficiency. VC funding in Smart Grid companies in 9M 2022 was 162% higher, with a record $2.5 billion compared to the $936 million raised in 9M 2021.

Last Month, Octopus Energy Group, a renewable energy group specializing in sustainable energy, invested £110 million (~$128 million) in EV Charging provider Be.EV. The funding is expected to help Be.EV to scale and install new charge points across the UK.