Revaia Leads Ampeco’s $26 Million Series B to Power the Future of EV Charging
Revaia’s announcement that we are leading AMPECO’s $26 million Series B funding round represents a significant step in our mission to support visionary companies driving the transition to a more sustainable and electrified future. We’re thrilled to be joining forces with existing investors BMW i Ventures, Launchhub, and Cavalry Ventures to support the next stage of growth for a company that has only begun to reach its potential.
However, this deal is about more than just helping a promising startup to scale. AMPECO is raising this round just as the EV Charge Point Operator market is at a crossroads. Numerous forecasts suggest Europe is falling well short of the Charge Point goals that it needs to reach its climate goals.
While there are several reasons for that, it turns out that just deploying charging stations is only half the battle. AMPECO has emerged as a critical player in the EV ecosystem thanks to its ability to help CPOs solve many of the challenges they face by empowering them to take control of their own EV charging networks and improve operational efficiency.
Let’s take a closer look at why we’re so bullish on AMPECO’s ability to create a robust business while also delivering the climate impact that society and the economy need.
From a Childhood Dream to a Global Impact
The first criterion for any investment starts with visionary founders.
AMPECO’s story began in 2018 when childhood friends Orlin Radev, Stefan Ivanov, and Alexander Alexiev came together with a shared vision: to tackle the complex challenges of electric vehicle (EV) infrastructure and play a part in the global shift towards sustainable transportation. What started as a dream among friends in Bulgaria has grown into a company with over 150 employees with a global footprint including offices in Bulgaria, France, the US, the Netherlands, and the UK.
To understand the company’s potential, it’s important to look at why AMPECO has become such a critical backbone of charging infrastructure.
Despite the surge in sales of EVs and the deployment of Charge Points, the CPO industry has some growing pains. Consumers still have “charging anxiety” because they worry they won’t be able to find a charging station, or if they do, it won’t work. By some measures, only 68% of charging networks in Germany are available or working at any given moment.
Meanwhile, CPOs face big challenges in building durable businesses. The industry requires big capital expenditures up front, but costs of energy and unpredictable utilisation hurt margins and make profitability hard to maintain. Regulatory requirements around payments, security, data, and EV charging infrastructure create additional layers of complexity.
On top of all of this, the EV market is currently experiencing some short-term challenges, with sales temporarily down.
To thrive, the CPO industry needs greater trust, reliability, transparency, and predictability. AMPECO provides all of that through its core product, a white-label Charge Point Management System (CPMS) that includes a backend platform, web portal, and mobile app for drivers.
The system provides a seamless experience for customers to use a wide range of Charge Points while simplifying payment. The system allows businesses to integrate, scale, and manage their infrastructure with precision, reliability, and greater flexibility. The result: More efficient management of charging networks. In a single software platform, businesses can rely on extensive out-of-the-box features to cover all business use cases - public, private, fleet, and residential charging.
Today, AMPECO’s CPMS powers more than 120,000 Charge Points globally, enabling businesses across diverse industries - ranging from retail and utilities to automotive OEMs. The solution is trusted by leading players such as Germany’s E.One Drive Infrastructure, operating across 11 European countries; French operators ChargeGuru, Zeplug, and INDIGO Group; Nordic leaders Wattif and Elaway; and the US-based Free2Move.
Of course, whatever short-term hiccups the EV and Charge Point industries face, the long-term trends are clear. We are long-term believers in the market’s potential for EVs and Charge Points. This is a momentary dip in what remains a rapidly growing industry. We expect global EV sales to rebound significantly, with projections showing a jump from 14 million units sold in 2023 to 41 million by 2030. EVs will become the dominant form of vehicles, a transition that will require a massive increase in the number of Charge Points.
Why Revaia Invested in AMPECO
To sustain that expansion, the role of charging infrastructure is becoming increasingly vital.
AMPECO has firmly established itself as a mission-critical player in the EV charging sector, offering the infrastructure that powers the next generation of electric mobility. Its Charge Point Management System (CPMS) provides a robust platform that businesses rely on to efficiently operate their charging networks at scale, which has been instrumental in its rapid rise as a leader in the space.
As our London Partner Morgan Kessous remarked: “At Revaia, we aim to back companies with cutting edge-technology that are delivering long-term and sustainable impact for multiple stakeholders. AMPECO is an excellent example of this vision in action.”
We are proud to support AMPECO as they continue to expand and refine their platform, providing the infrastructure necessary for the global shift to electric mobility. This investment is about more than just capital - it’s about supporting the essential systems that will power a sustainable future.
Our partnership with AMPECO is built on a shared commitment to sustainable innovation. Together, we are laying the foundation for a cleaner and greener tomorrow.