Bulgaria's Ampeco raises $26mn in Revaia-led Series B funding

Bulgaria's Ampeco raises $26mn in Revaia-led Series B funding

Funds raised to be used by Ampeco to fund its international expansion.

By Denitsa Koseva in Sofia November 27, 2024

Bulgarian electric vehicle (EV) charging software developer Ampeco said on November 26 it has raised $26mn in Series B funding, led by Revaia, with the participation of its existing investors Cavalry Ventures, BMW I Ventures, and LAUNCHub Ventures.

The raised funds will be used by Ampeco to expand its growth and its presence in Western Europe, the Nordics, the UK, North America and Southeast Asia. To achieve its goal, the company plans to double its team in the next two years.

“This milestone brings our total funding to $42mn since our founding in 2019, marking a significant step in our journey to enable and accelerate the global transition to electric mobility,” the company said in a press release.

“With this funding, we’re poised to further drive innovation in EV charging management software, helping our clients build and scale robust charging networks that will accelerate the global transition to electric mobility. The positive market feedback has reinforced our vision for 2025 as we prepare to launch new platform capabilities focused on operational excellence and network scalability,” Radev said in the press release.

In January last year, Ampeco secured $16mn in Series A funding round led by BMW I Ventures, the US-based venture capital arm of German carmaker BMW.

Currently, the company has over 160 clients across 60 markets.

#Bulgaria #automotive #AMPECO

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