FLEXeCHARGE Secures Seven-Figure Seed Funding for Smart Load and Energy Management Platform
Danish energy tech company FLEXeCHARGE has successfully closed a seven-figure seed funding round, with investments from venture capital firms Greencode Ventures, Link Capital, and Vireo Ventures. These funds will be used to propel the company’s smart load and energy management e-mobility platform to the next level of technological advancement.
The Need for Sophisticated Load and Energy Management in the EV Charging Industry
With the increasing adoption of electric vehicles (EVs) and the impending bans on internal combustion engine cars, the global installation of commercial charging infrastructure is growing rapidly. However, one of the biggest challenges hindering this expansion is the limitations in the capacity of energy grids. The growing number of EVs on the roads is causing significant strain on these grids, which are struggling to meet the increased demand for electricity. To tackle this issue, sophisticated load and energy management software is urgently required. This software will mitigate the risk of grid-upgrade backlogs that could potentially leave EV charging stations without power and ensure the efficient utilization of renewable energy injected into the European grid.
FLEXeCHARGE: The Conductor of the E-Mobility Transition
Founded in 2019, FLEXeCHARGE has emerged as a leading provider of innovative load and energy management services in the e-mobility sector. The company offers an open platform that integrates with EV charging hardware and charge point management systems. This vendor-independent technology enables the integration of both AC and DC chargers into one load management platform, either locally or through a cloud-based service. By aggregating demand for charging sites and integrating them with local renewable energy, storage systems, and flexibility markets, FLEXeCHARGE helps charge point operators and charging solution providers reduce their charging costs by up to 50%.
Max Brandt, CEO of FLEXeCHARGE, stated, “We see ourselves as the conductor of the e-mobility transition. We’re helping solve the problem of energy grid capacity, which is the biggest challenge in e-mobility today.” The company’s new investors, Greencode Ventures, Link Capital, and Vireo Ventures, bring substantial industry experience and a strong track record, which will be valuable as FLEXeCHARGE embarks on its commercialization journey.
FLEXeCHARGE’s Open Platform Revolutionizes Energy Purchasing and Operational Efficiencies
Apart from reducing costs, FLEXeCHARGE’s open platform offers flexibility and independence for its customers. Charge point operators and charging solution providers can connect to any software or hardware, allowing them to make better energy purchasing decisions and drive operational efficiencies. For example, the company is working with team energie, operator of northern Germany’s largest fast-charging hub, to utilize peak shaving. This technique reduces the risk of high-performance payments when the estimated infrastructure capacity is exceeded. FLEXeCHARGE is also collaborating with Lade.ZEIT, enabling customers to benefit from more informed energy and load management decision-making.
Manuel Heckmann, Venture Partner at Greencode Ventures, stated, “Smart EV charging solutions are urgently needed, and FLEXeCHARGE has a unique positioning in the industry. The team has developed the most advanced, intelligent platform and built a solid customer base. We’re excited to support the company in making a significant impact on the green transition of mobility.”
Investors Back FLEXeCHARGE’s European Expansion in Energy and Load Management Space
Christian Rangen, General Partner at Link Capital, added, “We believe that FLEXeCHARGE can develop a truly European footprint.” The company’s potential for growth in the energy and load management space has attracted investor interest. Greencode Ventures, Link Capital, and Vireo Ventures are confident in FLEXeCHARGE’s ability to lead in this exciting sector and deliver holistic energy management solutions for charge point operators and charging solution providers. The investors are eager to share their knowledge and work closely with the company to support its expansion efforts.
FLEXeCHARGE’s recent seed funding round is a testament to the importance of load and energy management solutions in the EV charging industry. With the financial support and expertise of its new investors, FLEXeCHARGE is well-positioned to drive the e-mobility transition and provide the necessary infrastructure for a greener future.
Analyst comment
Positive news: FLEXeCHARGE secures seven-figure seed funding for its smart load and energy management platform. This funding will propel the company’s technological advancement and help solve the challenges of energy grid capacity in the EV charging industry. With a vendor-independent open platform, FLEXeCHARGE can reduce charging costs by up to 50%. Investors are confident in FLEXeCHARGE’s European expansion and its ability to lead in the energy and load management space. Analyst prediction: With strong financial support and expertise from investors, FLEXeCHARGE is well-positioned to drive the e-mobility transition and provide infrastructure for a greener future. Expect significant growth and market adoption of FLEXeCHARGE’s platform.
