Tech

BMW iVentures continues its love of EVs, backing this Bulgarian startup’s $13M A round


An electric vehicle charging management system is typically an end-to-end solution for managing EV charging operations, billing, energy, drivers and even fleets. This means EV charging service providers can optimize the monetization of their operations.

Over the last few years, the number of players has skyrocketed. drives has raised $23.1 million in VC funding to date and was recently selected by Shell to run its charging and smart energy management platform. green flux 11 million euros were collected from the Netherlands. next, ChargeLab (raised $20.4 million) From Canada, Monta (€50M) from Denmark, and EV energy ($13.5 million) is outside the UK.

On the other hand, originally from Sofia, Bulgaria, but now operating across Europe, Ampecois a startup that has never appeared on VC funding radars with its own EV charging management platform.

That all changed with the news that Ampeco has raised $13 million in a Series A round led by BMW iVentures, bringing its total funding to date to $16 million. The startup plans to use that cash to further expand into North America and grow its product.

The Series A round included Bulgaria’s LaunchHub Ventures (last year’s announced €70 million fund, substantial for the Southeast European region) and Cavalry Ventures (from Berlin), and a handful of angel investors.

It’s worth remembering that BMW iVentures was formed in this space and backed many early players. The company was an early investor in his Chargepoint (now listed on his NYSE) and Chargemaster (acquired by BP).

Ampeco provides solutions for EV charging providers covering public sector, private sector and residential. The idea is that the platform will allow customers to manage their chargers at scale and choose from hardware partners to pick/mix and match rather than being tied to one hardware provider. . Smart He also works with meters, building management systems and renewable energy sources.

AMPECO CEO Orlin Radev said in a statement:

Four years after its launch, Ampeco says it has reached 120 customers in 45 markets, reached 62,000 charging points and doubled its size to more than 80 people.

BMW i Ventures partner Baris Guzel added: Ampeco’s hardware-agnostic comprehensive software solution enables the client to quickly launch and scale his own EV charging network. ”



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