• eMobility software company reev successfully completes Series A financing round to accelerate the expansion of intelligent charging infrastructure
  • reev, the leading software provider for semi-public charging solutions, raises a double-digit million sum, marking its largest investment round to date 
     
    Munich, 14 May 2024  
    reev, the renowned software company for providing intelligent charging solutions for the semi-public sector, announces the completion of its Series A financing round totaling €10 million. The round was led by Future Energy Ventures, the venture capital fund backed by leading energy utilities such as E.ON, and Blue Earth Capital, the specialist global impact investment firm. They join existing investors, among which is the German energy provider N-ERGIE.reev is a substantial contributor to e-mobility, the software provider simplifies access to charging infrastructure and complex tasks for any company, electrician or facility manager wishing to install charging stations. The company occupies a unique position in the market through user-friendly solutions with high reliability and plays a crucial role in enabling the shift to sustainable mobility.The intelligent reev software for managing charging stations is already in use by almost 6,000 customers today – including adidas, the European Patent Office, Holcim and Trumpf. The company’s digital product solutions for hardware manufacturers, traders, and electricians cover the entire range of applications of already more than 250 compatible wallbox models from installation to service in one platform. As a testament to the benefits of its solution, reev recently announced strategic partnerships with Schneider Electric and Zaptec to offer a joint product solution with reev pre-configured software. A similar product solution was developed with the hardware manufacturer ABL in 2020 and has since then been successfully established on the market. The company currently onboards 15 new clients every day to its fully hardware-agnostic software platform, demonstrating a compelling opportunity for scalable growth.

    “The provision of charging infrastructure in locations where vehicles park for extended periods plays a central role in the market expansion of electromobility. Nevertheless, we observe that both corporate buildings and multi-tenant residences lack charging facilities or lag in expanding charging infrastructure. The exceptional reliability of our software, along with its intuitive usability throughout the value chain, specifically addresses the complex and specific requirements of these segments, positioning reev uniquely to fill this gap. Our past success also demonstrates this.” says Eduard Schlutius, founder, and CEO of reev.

    On the way to becoming Europe’s leading software provider for intelligent charging solutions
    “The proceeds from the Series A will primarily be used to strengthen our position as the market leader in the DACH region and to expand into new markets, including France and the Benelux countries. To meet the increasing demand for intelligent energy distribution and grid-friendly charging, as well as to enable customers to easily extend their charging infrastructure, we will also expand our portfolio with innovative new products.
    We are pleased to partner with two preeminent climate investors with highly relevant networks and proven scale-up capabilities to help achieve our European ambitions,” Eduard Schlutius added.

    “To facilitate the energy transition, reliable infrastructure for electric vehicles and in particular effective charging solutions are critical. We believe corporate and multi-tenant buildings are an underserved part of the charging ecosystem in Europe,” says Kayode Akinola, Head of Private Equity at Blue Earth Capital. “By providing building owners/ managers and the end customers with a seamless operating experience and maximizing uptime, reev’s software solution is well positioned to accelerate EV charging infrastructure expansion and reliability within these segments – an important step towards the decarbonization of road transportation.”

    Veronique Hördemann, Managing Partner Future Energy Ventures says: “In our initial fund, we made many successful investments in the EV charging sector, where we experienced the first wave of EV adoption. We recognized the untapped potential of multi-user building setups as crucial for mainstream EV adoption. reev emerged as a standout player in this domain, boasting an exceptionally talented team. The commitment and passion exhibited by the entire reev team are truly remarkable, a sentiment echoed by their satisfied customers and partners alike. We are pleased to join the journey!“

    About reev:  
    Based in Munich, reev provides a simple, transparent, and fully automated cloud software platform for the management, control, and billing of charging infrastructure. This enables the company to offer a future-proof, unique solution for various requirements. reev’s mission is to empower everyone to shape the future of eMobility, actively contribute to the mobility transformation, and to operate their own charging infrastructure. Therefore, the reev software is specifically designed to meet the needs of complex fleet situations, such as businesses, residential and commercial properties, or parking facilities.

    About Blue Earth Capital: 
    Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and market-rate financial returns. The company operates dedicated private equity, private credit, and fund solutions. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future.

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