Funding

[Funding alert] Copenhagen-based FLEXeCHARGE Secures Seven-Figure Seed Funding

Jan 9, 2024 | By Startup Rise EU

Copenhagen-based FLEXeCHARGE secures seven-figure seed funding. Contributions provided by the venture capital companies Vireo Ventures, Link Capital, and Greencode Ventures.

With the funding, the Danish energy tech startup hopes to advance technology even further by using its e-mobility platform for smart load and energy management.

Read also - UK-based Technology Company Travelport Secures $570m in New Equity Funding

In order to provide EVs with the same level of accessibility and convenience as refuelling conventional automobiles, commercial charging infrastructure is being developed quickly worldwide as EV usage rises and laws banning internal combustion engine vehicles become closer.

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The inability of energy networks to handle the rising demand for electricity brought on by the increasing number of EVs on the road is one of the main obstacles preventing this adoption, though.

Read also - Lyon-based ENYO Pharma Secures a €39 Million in Series C Round Funding

Max Brandt, CEO of FLEXeCHARGE said, “We see ourselves as the conductor of the e-mobility transition, We’re helping solve the problem of energy grid capacity as the amount of renewable energy and EV market share increase, which is the biggest challenge in e-mobility today. I’m thrilled to welcome Greencode Ventures, Link Capital and Vireo Ventures, three firms with leading positions in the energy and e-mobility transitions, into our investor portfolio. All three have vast industry experience and strong track records, and I’m positive they will contribute vital knowledge as we embark on our commercialization journey.”

In addition to cutting expenses, FLEXeCHARGE's open platform gives its users the freedom to connect to any software or hardware, facilitating enhanced energy purchasing decisions and boosting operational efficiency. This allows users to stay independent of their management system and hardware providers.

Read also - Mental Health Startup Self Space Secures €2.6 million Seed Funding

Manuel Heckmann, Venture Partner at Greencode Ventures said, “Smart EV charging solutions are urgently needed, and FLEXeCHARGE has a unique positioning in the industry,” “The team has developed the most advanced, intelligent platform and built a solid customer base. We’re excited to support the company in making a significant impact on the green transition of mobility. FLEXeCHARGE enables more charge point operators and charging solution providers to make smarter energy management decisions for their charging sites.”

Christian Rangen, General Partner at Link Capital said, “We believe that FLEXeCHARGE can develop a truly European footprint, We’re excited to back FLEXeCHARGE, a promising company perfectly positioned to lead in the exciting energy and load management space. We’re primed to share our knowledge and work closely with the company as it aims to deliver holistic energy management for charge point operators and charging solution providers.”

About FLEXeCHARGE

In the e-mobility space, FLEXeCHARGE was founded in 2019 and is a prominent supplier of cutting-edge load and energy management services. It offers an open platform that interfaces and sits between charge station management systems and EV charging gear.

Read also - Munich-based einwert Secures €4 Million in Seed Funding

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