Tuesday, December 3, 2024
Infrastructure and TechnologyLatestNews

AMPECO announces new funding

EV charging management platform provider AMPECO has announced it has raised $26 million in Series B funding.

The round was led by Revaia, with participation from existing investors Cavalry Ventures, BMW i Ventures, and LAUNCHub Ventures.

The investment will enable AMPECO to accelerate its product development and expand its presence in key markets. Its management platform enables charge point operators (CPOs) and e-mobility service providers (eMSPs) to manage and scale their EV charging operations efficiently.

It has experienced significant growth since its last funding round when it raised $16 million in 2023, and is now serving more than 160 clients across 60 markets, and connecting more than 120,000 charging stations to its platform.

AMPECO has seen recent client acquisitions span across multiple regions, from Germany’s EON Drive Infrastructure operating in 11 European countries to French operators ChargeGuru x Zeplug and INDIGO Group, US-based Free2Move, and Nordic leaders Wattif and Elaway.

The Series B funding will fuel plans to accelerate product innovation, enhancing its platform to provide the most robust feature set for large-scale EV charging providers globally. Additionally, it will expand its presence in key markets, including Western Europe, Scandinavia, the UK, North America, and Southeast Asia. To support this growth, the company aims to double its team size over the next two years.

Orlin Radev, CEO of AMPECO, said:

“This investment is a testament to the hard work of our team and the trust our clients place in us.

“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.”

Morgan Kessous, Partner at Revaia, said:

​​“We are thrilled to lead AMPECO’s Series B and partner with a company that is at the forefront of powering the future of electric mobility.

“At Revaia, we aim to back companies that deliver long-term and sustainable impact for multiple stakeholders. AMPECO is an excellent example of this vision in action, as it plays a crucial role in scaling EV infrastructures globally”.

“AMPECO’s unmatched customization, scalability, and seamless integration with third-party systems make it stand out as a key player in the charge point management space.”

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