Cariqa funding news – Berlin-based Cariqa Secures €1 Million in Pre-Seed Round Funding

It improves EV charging market efficiency by clarifying EV driver pricing and charge point operator price control. Due to poor utilization rates of 3%, CPOs struggle to justify hefty installation and maintenance costs.

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CPOs sometimes discount energy to e-mobility service providers (EMSPs) to attract users, reducing margins and limiting their capacity to modify rates flexibly. This raises EV driver costs. By connecting CPOs with drivers, Cariqa delivers inexpensive, transparent pricing and helps CPOs enhance utilization and regulate prices.

Issam Tidjani, CEO of Cariqa said, “Our mission is to contribute to the transition to sustainable mobility by creating a fairer and more efficient charging market. We aim to help charge point operators maximize their utilization rates and revenues while ensuring drivers pay a fair and transparent price,".

This month, in September 2024, it launched the marketplace and has since partnered with CPOs all around Europe. It guarantees a seamless charging experience for EV drivers and a path to increased profitability for CPOs. It offers access to over 420,000 charging stations across 30 European countries, along with useful features like optimal charge point discovery, EV routing, and the option to connect the EV for more detailed consumption models and alerts.

Tim Grace, Managing Director at Techstars Columbus Powered by The Ohio State University said, “Cariqa’s exceptional team, powerful mission, and bold vision are exactly what we seek at Techstars. It’s been a privilege working with Issam, Stefano, Tamara and Mario, and I’m excited about Cariqa’s next chapter,”.

Jeremy Brown, Principal at Anthemis said, “The EV charging market has reached a point of maturity that friction can be reduced and the relevance of energy service providers has diminished in many markets as EV drivers are demanding more price transparency and charging optionality. We’re excited that Cariqa is empowering the EV driver to directly transact with Charge Point Operators (CPOs) via its charging marketplace all the while helping CPOs to expand their margins and increase utilization all over Europe,”.

Alireza Masrour, General Partner at Plug and Play said, “At Plug and Play, we are thrilled to be part of Cariqa’s journey as they revolutionize the EV ecosystem. By simplifying the experience for both EV drivers and Charge Point Operators, Cariqa is paving the way toward a more sustainable future,”.

About Cariqa

EV charging marketplace Cariqa is the first in the world to be user-facing. In a world where EV users can charge their cars without having to worry about reseller markups, and Charge Point Operators (CPOs) have complete control over their pricing, that is what we at Cariqa foresee.