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BMW continues its love affair with electric vehicles, backing this Bulgarian startup’s $13 million seed round • TechCrunch


EV charging management systems are typically end-to-end solutions for managing EV charging operations, billing, energy, drivers, and even fleets. This means that electric vehicle charging service providers can optimize the monetization of their operations.

A number of players have proliferated over the past few years. Israel’s Driivz has raised $23.1m in venture capital funding to date and was recently selected by Shell to manage its charging and smart energy management platform. Greenflux from the Netherlands attracted 11 million euros. Then there’s ChargeLab (raised $20.4m) in Canada, Monta (€50m) in Denmark and EV Energy ($13.5m) in the UK.

Meanwhile, originally from Sofia, Bulgaria but now with operations across Europe is Ampeco, a startup that so far hasn’t appeared on the VC funding radar with its own platform. EV charging management.

That changes today with news that Ampeco has raised a $13 million Series A led by BMW iVentures, bringing its total raised to date to $16 million. The startup plans to use the money to go further in North America, as well as to develop its products.

The Series A round also included Bulgarian LauncHub Ventures (which last year announced a substantial €70m fund for the Southeast European region) and Cavalry Ventures (out of Berlin) as well only a handful of angel investors.

It’s worth remembering that BMW iVentures is in good shape in this area, supporting a number of earlier players. He was an early investor in Chargepoint (now on the NYSE) and Chargemaster (acquired by BP).

Ampeco offers a solution for EV charging providers that spans the public sector, private company fleets and residential. The idea is that its platform allows customers to manage loaders at scale and then pick/mix and match hardware partners, rather than being locked into a single hardware vendor. It also works with smart meters, building management systems and renewable energy sources.

In a statement, Orlin Radev, CEO of AMPECO, said: “There is an incredible opportunity for electric vehicle charging providers to create and grow a profitable business using innovative technologies.”

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

Baris Guzel, Partner, BMW i Ventures, added: “As electric vehicle sales proliferate, access to electric vehicle charging infrastructure becomes more critical than ever. Ampeco’s comprehensive, hardware-independent software solution enables customers to quickly launch and grow their own electric vehicle charging networks.


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