Bulgarian Ampeco raised $26 million for its global expansion

Bulgarian EV charging software developer Ampeco has raised $26 million in a new investment round. Led by Revaia, the current funding wave will accelerate the company's global expansion and solidify its position as a key player in the fast-growing electromobility industry.

The funds raised come after last year's series A, after which Ampeco attracted 13 million US dollars. With those raised from series B, the total amount of financing reached 42 million dollars.

With these funds, we will be able to accelerate our growth and contribute to a faster transition to sustainable mobility," commented Orlin Radev, CEO of Ampeco.

The fresh capital will allow Ampeco to invest in expanding its platform, which will enable charging station operators to manage their networks efficiently. The company will focus its efforts on improving the functionalities of the platform, expanding the geographical coverage, and attracting new customers from the leading players in the sector.

It also plans to double its team over the next two years and bring in top talent in software engineering and project management.

Founded in Bulgaria, Ampeco is already developing its activities throughout Europe. The company has 160 clients in 60 markets and 120,000 charging stations. Among its clients are EON Drive Infrastructure, ChargeGuru, Zeplug, INDIGO and EV Edge. Major markets include Western Europe, Scandinavia, the United Kingdom, North America, and Southeast Asia.

A key moment for electromobility

The global electric vehicle market is booming. Expectations are that by 2030 the sales of electric cars will reach over 30 million. This means that by then the world will need approximately 40 million public charging points, which equals 500 billion dollars of investment in charging infrastructure.

To ensure the mass adoption of electric cars, a well-developed charging infrastructure is needed. That’s where Ampeco plays an important role in building this infrastructure by providing the necessary software to manage the charging stations.

Translated by Tzvetozar Vincent Iolov