0
0
DENMARK, 23 September 2022: Danish EV charging management platform Monta raised an additional USD 29.3m in Series A+ funding.
With return investors Creandum, Pale Blue Dot, byFounders, and Headline, the round, which increased the total to USD 48.8m, was led by Energize Ventures.
Funds utilisation
The company plans to utilise the funds to expand into new areas, increase market transparency for electricity, and modernise the infrastructure of the power grid.
Monta will use the additional funding to expand into new markets, including North America, while strengthening its position in Germany, the UK, and Scandinavia, all of which have laws in place that will forbid the sale of new internal combustion engine (ICE) vehicles by 2025, 2030, and 2035, respectively.
Monta will step up its product innovations and create crucial features to aid EV drivers and charge point operators in navigating the market to better serve the demands of the EU and the US, which has set a goal of having 50percent of its car sales be EVs by 2030.
User friendly EV charging management platform
Monta is providing an EV charging platform that streamlines and simplifies the implementation, use, and management of EV charging infrastructure under the direction of CEO Casper Rasmussen.
Charge point owners get complete visibility over charge point use, price, access, and transactions via the platform. For EV drivers, Monta offers access to public charging stations as well as reservation, virtual queuing, and payment services all on one platform.
A number of important utility, aviation, and transportation firms, including Vestas, CPH Airport, and PostNord, as well as wholesalers, use the EV charging management platform. These organisations are using Monta to upgrade installer skills.
Since the company’s most recent round of funding in January 2022, it has established strategic alliances with hardware producers to roll out its Powered by Monta (PBM) programme across many regions.
Key partners include Zaptec, which just released Zaptec Park, a co-branded app for its customers, as well as Garo, CTEK, ABB, and Autel, each of which boasts a variety of charge points in Europe.
