Monta's €80m Funding Boost Sparks Growth for EV Charging
The close of Monta’s €80m (US$86m) Series B round has brought the company’s total funding to €130m (US$141m).
Energize Capital led the round with participation from returning investors Headline, byFounders, AENU and Creandum. Additional investors included GreenPoint Partners, Quantum Light and Denmark’s state-backed Export and Investment Fund.
Monta is based in Copenhagen, Denmark and was founded in 2020. Monta supports drivers, companies, cities and the electricity grid, helping customers scale all of their EV needs with one integrated software built to EV better.
Accelerating charge point optimisation and expansion
Monta’s platform supports hardware manufacturers to optimise their products by enabling them to benchmark charge point brands, provide insights into usage and performance. It can also shorten the time spent troubleshooting.
EV drivers can use Monta’s software to charge on 600,000+ charge points across the UK and Europe. Now, this fresh funding will go towards:
- As Monta pursues 80% growth in connected charge points in the UK, this will double its UK headcount
- This will expand its UK annual recurring revenue by 130%
Casper Rasmussen, CEO and founder of Monta, told EV Magazine that this funding levels up their mission to drive the electrification of countries, not just companies, and will see Monta opening up a larger, more accessible network of EV charge points.
“We perform almost a million charges and add around 1,000 new drivers to the platform daily and we’ve scaled our operations across 10 markets, with charge points active in over 20 different countries. Pretty crazy when you consider we’ve only been active for three years,” he says.
Having partners like Siemens, Norlys, NRGi, Egg, WAAT, Rolec & Uno-X Mobility and many more, motivates Monta to continually innovate and promote the use of sustainable energy.
“We will continue to scale in 2024 by doubling the size of our team again and entering new markets through the expansion of new and existing features such as SmartCharge, SolarCharge and PowerBank,” he says. “Our ambition is to deliver the most seamless charging experience for all players in the industry and help drive the future of electrification!”
Monta is spearheading global electrification
In 2023, Siemens chose Monta as its preferred EV charging software provider for its corporate fleets.
By using Monta’s Charge Point Management System (CPMS), Siemens has been able fast-track its goal of integrating e-mobility into daily life, by establishing a Europe-wide infrastructure for both corporate fleets and facility managers. This includes offering charging solutions for company cars, shared vehicles and employees.
“We’re excited to be working together with Monta, integrating their innovative, feature-filled software into our offerings,” says Markus Mildner, CEO eMobility at Siemens Smart Infrastructure. “This supports our ambitions to further expand EV charging infrastructure.”
Read more here.
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