AMPECO Secures $26 Million in Series B Funding to Accelerate Global EV Charging Networks

Investment led by Revaia brings total funding to $42M as the company expands product innovation and market presence in the EV charging management space

SOFIA, Bulgaria, Nov. 26, 2024 /PRNewswire/ -- AMPECO, a leading EV charging management platform provider, 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. This investment will enable AMPECO to accelerate its product development and expand its presence in key markets, solidifying its position as a global leader in EV charging software solutions.

AMPECO's white-label management platform enables charge point operators (CPOs) and e-mobility service providers (eMSPs) to manage and scale their EV charging operations efficiently. The company has experienced significant growth since its last funding round, now serving over 160 clients across 60 markets and connecting more than 120,000 charging stations to its platform. This market leadership was recently validated by IDC MarketScape, which recognized AMPECO as a Leader in their 2024 assessment of worldwide EV charging management solutions^[1].

"This investment is a testament to the hard work of our team and the trust our clients place in us," said Orlin Radev, CEO of AMPECO. "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."

The global EV market is experiencing rapid growth, with electric car sales projected to reach over 30 million by 2030^[2]. To support this growth, the world will need approximately 40 million public charging points by 2030, requiring an estimated $500 billion investment in charging infrastructure^[3].

AMPECO has established itself as a key player in this expanding market, securing partnerships with major industry leaders. Recent client acquisitions span across multiple regions, from Germany's EON Drive Infrastructure operating in 11 European countries to leading French operators ChargeGuru x Zeplug and INDIGO Group, US-based Free2Move, and Nordic leaders Wattif and Elaway. These partnerships demonstrate the platform's ability to meet the needs of large-scale EV charging providers globally.

"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," said Morgan Kessous, Partner at Revaia. "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. In a market that demands both flexibility and reliability, AMPECO's platform provides the critical infrastructure businesses rely on to operate their EV charging networks efficiently and at scale. We are proud to support AMPECO as it continues to expand and refine the platform, providing the infrastructure necessary for the global shift to electric mobility."

The Series B funding will fuel AMPECO's ambitious growth strategy across multiple fronts. The company plans to accelerate product innovation, enhancing its platform to provide the most robust feature set for large-scale EV charging providers globally. Additionally, AMPECO 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, bringing in top talent across all departments to drive its mission forward.

As the EV charging market continues to evolve, AMPECO remains committed to developing solutions that address the complex challenges faced by large-scale operators in the EV charging space. The company's focus on scalability, integrations, and customer success has positioned it as a trusted partner for businesses looking to capitalize on the growing demand for EV charging infrastructure.

AMPECO previously raised $16 million in venture capital in 2023. This latest investment brings its all-time raise to $42 million since it was founded in 2019.

For more information about AMPECO and its EV charging management platform, visit www.ampeco.com.

About AMPECO:

AMPECO enables large-scale EV charging providers to launch and scale their business operations under their brand. The company offers a white-label and hardware-agnostic EV charging management platform to cover all EV charging business cases. It has a comprehensive out-of-the-box feature set that allows quick go-to-market while providing unmatched flexibility and extensibility via API to enable businesses to build their differentiators. AMPECO supports more than 160 charging network operators in over 60 countries.  It has been recognized as a Leader by IDC MarketScape in their 2024 worldwide assessment of EV charging management solutions, and globally recognized by Frost & Sullivan, Financial Times, Forbes, Deloitte, and PwC for its technological product innovation and strategic business development.

About Revaia

Revaia is a leading technology investor, partnering with mission-driven entrepreneurs with global ambitions and sustainable leadership. With the support of major institutions, such as the European Investment Fund, Revaia helps these growth-stage companies navigate their entire life cycle from Series B to IPO or buyout. Revaia builds bridges between venture, private equity, and public markets and is a supportive sparring partner for entrepreneurs who are working to transform the world for the better. With offices in Paris, London and Berlin and presence in North America, its diverse team brings hands-on expertise and unique ESG know-how to the most promising technology scale-ups.

www.revaia.com

Media Contact:
Dimitar Atanasov
[email protected]

^[1] IDC MarketScape, Worldwide Electric Vehicle Charging Management Solutions 2024 Vendor Assessment

^[2] International Energy Agency (IEA), Global EV Outlook 2023

^[3] Electric Vehicle Charging Infrastructure: Scaling Up to Meet Demand

SOURCE Ampeco