Monta, a leading EV charging platform, has closed an €80 million Series B funding round to accelerate the deployment of EV charging infrastructure across Europe.
Monta, the leading platform driving the electrification of mobility through its EV charging ecosystem, has successfully closed an €80 million Series B round of funding. This latest investment, co-led by Energize Capital and GreenPoint Partners, alongside Denmark’s state-backed Export and Investment Fund, brings Monta’s total funding to €130 million within just three years. Notable participation in the Series B round includes returning investors Headline, byFounders, AENU, Creandum, and the addition of new investor Quantum Light.
Monta’s platform serves as a comprehensive solution for hardware manufacturers, operators, businesses, and EV drivers, offering integrated software to streamline the deployment, utilization, and management of EV charging infrastructure. Since its inception in 2020, Monta has emerged as the central hub for simplifying the EV charging market, providing valuable insights and tools for optimizing charging operations.
CEO and founder of Monta, Casper Rasmussen, emphasized the pivotal role Monta plays in the global transition towards decentralized electrification, stating, “Our differentiation lies in our ability to address the entire value chain of the EV charging market, bridging the gap between energy providers and end-users. With one million monthly charging sessions and 130,000 charge points on our platform, we are witnessing the market nearing an inflection point.”
In 2023, Monta witnessed significant growth, including a 600% increase in annual recurring revenue, the expansion into two new markets with the establishment of offices in Paris and Barcelona, and nearly doubling its employee headcount. Strategic partnerships with industry leaders such as Siemens, EGG, Rolec, and Uno-X have further propelled Monta’s growth trajectory.
Juan Muldoon, partner at Energize Capital, lauded Monta’s impressive growth and market leadership, noting, “Monta has solidified its position as the fastest-growing startup in the EV space, offering a modern solution to manage the increasing volume and complexity of EV charging infrastructure.”
With the newly secured funding, Monta plans to intensify its focus on product research and development, expand its partner network, and contribute to the creation of a sustainable charging infrastructure. The company’s extensive partner network will continue to play a pivotal role in driving the sustainability transformation within the mobility sector.
About the EV Charging Market: As global initiatives to phase out internal combustion engine vehicles gain momentum, the demand for EVs and charging infrastructure continues to surge. Consumer interest in EVs is on the rise, with 52% of surveyed consumers in Europe considering purchasing an EV as their next vehicle.
Global electric car sales witnessed a remarkable 31% increase in 2023, with projections indicating further growth between 25% and 30% in 2024. To sustain this growth, the installation of over 90 million new chargers before 2030 is imperative, ensuring accessible and affordable charging infrastructure for EV users worldwide.
Source – Monta
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