AmpUp, a chief electric vehicle (EV) charging platform, has uplifted $15 million in its Series A funding round. The funding will support the company’s U.S. market extension and further modernizations in energy management solutions for EV charging. Directed by Touchdown Ventures, the investment round involved noteworthy shareholders from zones such as mobility, energy, and finance. With this investment, AmpUp intends to boost its evolution and reinforce its place as a head in the EV charging space.
Key Highlights
- Touchdown Ventures is leading a $15 million Series A investment round.
- MUUS Climate Partners, Autotech Ventures, and other investors are among the new ones.
- Over the last 24 months, AmpUp’s subscription income has increased seven times.
- During that time, the company increased the management and utilization of EV ports.
- Collaborating with WEX to improve fleet payment options.
- In just three years, the commercial Level 2 (L2) charging station market share in the United States reached 4%.
- Serving more than 1,000 clients in the US and Canada.
- The appointment of Mike DiNucci as Chief Revenue Officer, Randa McMinn as Chief Marketing Officer, and Eve Harde as Head of Finance represents strategic leadership additions.
AmpUp’s quick expansion is further supported by recent strategic hires. Rich in EV charging experience, Mike DiNucci joined as Chief Revenue Officer, while Randa McMinn, who specializes in site owner connections, took on the role of Chief Marketing Officer. Reeve Harde also joined AmpUp as Head of Finance to bolster the company’s financial plan.
A recent agreement with WEX, intended to integrate payment solutions for fleet customers, is one example of the company’s excellent success. It is anticipated that this cooperation would enhance revenue streams and charger utilization. With over 1,000 customers and 4% of the commercial L2 market in the US, AmpUp is clearly leading the way in this industry.
Three new board members were added to AmpUp as part of the Series A funding: David Jackson, COO of AmpUp, Greg Bergamesco from Touchdown Ventures, and Ivy Nguyen from Autotech Ventures. Moreover, MUUS Climate Partners partner Logan Grizzel became a board observer.
AmpUp’s cutting-edge technology is positioned to take a larger portion of the market for electric vehicle infrastructure, and the company is still making progress in the EV charging space. The company’s goal is still to accelerate the switch to a greener and more efficient energy system by making EV charging easier with smart technology and energy management solutions.
