EV charging platform provider Ampeco has raised $26 million in a Series B funding round led by Revaia, bringing its total funding to $42 million. The company aims to capitalize on the growing demand for EV charging infrastructure, driven by projections of over 30 million electric cars and a need for 40 million public charging points globally by 2030.
Since January 2023, Ampeco has more than doubled its charging points, growing from 62,000 to over 120,000, with another 100,000 in development. âBut the real story isnât just in numbers â itâs in whoâs choosing us. Major utilities like EON Drive Infrastructure are running their networks across 11 European countries on our platform,â said Orlin Radev, CEO of Ampeco.
The company has taken an API-first approach, launching a developer portal to enable large-scale operators to create custom solutions. âCompanies who initially built their own software are now migrating to our platform to manage the growing complexity of EV charging operations,â Radev added.
The funding will support Ampecoâs efforts to adapt to an evolving market. The EV charging sector has seen consolidation, with competitors like Driivz, GreenFlux, and EVConnect acquired by larger corporations. Revaia partner Morgan Kessous said the firm was drawn to Ampecoâs âcustomization, scalability, and seamless integration with third-party systems.â
Ampeco’s investor base includes Cavalry Ventures, BMW iVentures, and Launchhub, all of whom participated in this funding round. The company remains focused on scaling its operations across key markets, including Western Europe, Scandinavia, the UK, North America, and Southeast Asia.
