Shantel
Key Takeaways:
- ev.energy secures a significant $33M Series B funding round, elevating total funded capital to $46M.
- The round was led by National Grid Partners, featuring participation from other prominent investors.
- With this funding, ev.energy aims to create a pathway to connect millions of EVs, chargers, and drivers to their Virtual Power Plant.
- ev.energy’s software plays a crucial role in global vehicle-grid integration, with partnerships including industry leaders like National Grid and Volkswagen Group.
- The company is set to extend its reach, aiming to gain access to an additional 400 million energy customers.
About ev.energy
Founded in 2018, ev.energy is on an unstoppable mission to transform the future of electric vehicle (EV) charging. As a leading provider of managed charging software, they aim to make charging simpler, greener, and cheaper for drivers globally. Their groundbreaking platform manages the charging of over 120,000 EVs daily, creating a more efficient, cost-effective, and sustainable charging environment.
The Series B Funding: A Gateway to Further Expansion
The recently secured $33M Series B funding, led by National Grid Partners, sets the stage for ev.energy’s broader ambitions. Aviva Ventures, WEX Venture Capital, and InMotion Ventures also participated in the round, providing additional support. This capital injection will enhance ev.energy’s ability to connect electric vehicles to grid networks globally, integrating even more drivers, vehicles, and chargers into their Virtual Power Plant.
Nick Woolley, ev.energy’s CEO, shed light on the importance of the funding round, saying, “As more EVs come online, optimized charging and load maintenance will remain critical tools for ensuring grid stability. With this funding, we can shape and control EV load, benefiting both the grid and helping drivers to charge using the greenest and cheapest energy.”
Envisioning a Greener Future
Since its inception, ev.energy has worked tirelessly to develop smart, cloud-based platforms that optimize EV charging. With over 120,000 EV drivers across North America and the UK linked to ev.energy’s Virtual Power Plant, the company aims to scale up its operations further. 2023 marked a significant year for ev.energy, expanding into the solar market with ev.energy SOLAR, introducing fleet management platform ‘Pando’, and adding Vehicle-to-Grid solutions to their VPP.
Bobby Kandaswamy, Senior Director of Pathfinding & Incubation Investments at National Grid Partners, praised ev.energy’s growth, noting, “ev.energy’s approach to providing a convenient, compelling experience for drivers to charge at home and on the road during grid-friendly times is essential for grid operators.”
Building Strategic Partnerships
ev.energy has created a prominent position for itself in the energy sector by building strong partnerships with industry leaders. These collaborations have helped utilities around North America and Europe tackle extreme weather conditions with innovative solutions. Through these alliances, ev.energy is set to access millions of additional vehicles, expanding their network substantially.
Matthias Dill, CEO and Managing Partner of Energy Impact Partners, voiced his optimism for the partnership, saying, “ev.energy has a compelling value proposition that can be quickly deployed. It’s one of the most successful startup companies we’ve ever invested in when it comes to partnering with energy utilities.”
Mike Smeed, Managing Director at InMotion Ventures, also endorsed ev.energy, saying, “Their market-leading technology, impressive list of partners, and ambitious roadmap are key reasons we participated in this latest round.”
Driving towards a Cleaner, Resilient Grid
Beyond improving grid stability, ev.energy has shown its commitment to social and environmental change. The company is a certified B Corp, operating as a carbon-negative business for the past two years. This latest funding is an affirmation of ev.energy’s commitment to making EV charging greener, cheaper, and smarter, aiding the global drive towards decarbonization and electrification of transport and energy.
The road to a sustainable, electric future is illuminated by pioneers like ev.energy, creating efficient solutions that are both economically beneficial and environmentally friendly. Their efforts truly represent a stride forward in our quest for a greener tomorrow.
