Monta, a Copenhagen, Denmark-based EV charging management platform, raised an additional EUR 30m in Series A+ funding.
The round, which brought total to EUR 50m, was led by Energize Ventures with participation from returning investors Creandum, Pale Blue Dot, byFounders, and Headline.
The company intends to use the funds to open up new markets, create transparency within the electricity market, and digitalize the power grid infrastructure. Monta will leverage the additional investment to open up new markets including North America, while consolidating its position in Scandinavia, the UK, and Germany, all of which have legislation in place slated to ban new ICE vehicle sales by 2025, 2030, and 2035 respectively. To further support the needs of the EU and the US – which has set a goal for 50% of its car sales to be EVs by 2030 – Monta will ramp up its product innovations and develop critical features to help EV drivers and charge point owners seamlessly navigate the industry.
Led by Casper Rasmussen, CEO, Monta is delivering an EV charging platform that simplifies and streamlines deployment, use, and management of EV charging infrastructure. Via the platform, charge point owners have full visibility into charge point use, pricing, access, and transactions. For EV drivers, Monta provides reservation, virtual queuing, and payment features under one platform as well as access to public charge points.
The EV charging management platform is used by notable utility, aviation, and transportation industry companies such as Vestas, CPH Airport, and PostNord as well as wholesalers, who are leveraging Monta to upskill installers. Since the company’s latest financing in January 2022, the company has secured strategic partnerships with hardware manufacturers to launch its Powered by Monta (PBM) program in multiple markets. Key partners include Garo, CTEK, ABB and Autel which each boast a range of charge points in Europe as well as Zaptec, which recently launched Zaptec Park, a co-branded app for its users.