Frankfurt-based &Charge, a company that develops software to manage and maintain electric vehicle charging stations, has raised €5 million (PLN 21 million) in a Series A funding round. The investment was led by Warsaw Equity Group, with participation from InnoEnergy, Redstone, and Porsche Ventures, as Vestbee was informed.
- Founded in 2019 by Eugen Letkemann, Simon Vogt, and Matthias Drechsler, &Charge operates a decentralized maintenance layer designed to resolve the discrepancy between digital availability and the actual physical condition of EV infrastructure.
- The firm utilizes a closed-loop system where a community of users and local service partners identifies and fixes on-site issues, such as damaged cables or blocked stalls, that remain invisible to standard remote monitoring.
- With a fleet of over 50,000 charging points under management, the company currently services major operators like Ionity, Electra, and Allego.
Details of the deal
- &Charge aims to scale its operational layer across Europe, specifically targeting infrastructure gaps in Poland and Romania to ensure real-world reliability matches digital uptime. This capital injection will automate the transition from identifying site-specific faults, like damaged hardware or restricted access, to coordinating physical repairs through local service partners.
“We were convinced by both the scale and the real operational nature of the problem, driven by the lack of visibility in distributed infrastructure, as well as by the rapid market growth and increasing pressure on operators to optimize costs. &Charge demonstrates
strong product–market fit, as evidenced by its partnerships with leading CPOs across Europe," Investment Associate at WEG, Jakub Głowaczewski, commented in a press release.
