Monta raises €30M for EV charging software
The Copenhagen-based startup Monta has raised €30 million (~$30 million) at a €155 million valuation for its charging software.
Why it matters: Monta is focused on EV charging software to make the process easier and more efficient. Copenhagen Airport, for example, is using the software to electrify its fleet of vehicles.
Details: Energize Ventures, based in Chicago, led the round.
- Existing investors Creandum, Pale Blue Dot, byFounders, and Headline participated.
How it works: The software enables a range of customers — from commercial fleet managers to apartment building owners to individual drivers — to adjust when and how their vehicles charge, such as when electricity is cheapest.
- "When you start the charge, you will see what the price is now, what the price will be in the next 12 hours, and a chart of what we expect it to be," CEO Casper Rasmussen tells Axios.
- The company makes money through SaaS subscriptions and by tacking on transaction fees for customers, such as apartment building owners, that require drivers to pay to use an EV charger.
By the numbers: The number of active users has more than doubled to 25,500 since January, a Monta spokesperson tells Axios.