€6 Million for E-Mobility Startup

Munich-based e-mobility startup EcoG GmbH, a developer of software for DC charging stations, has successfully closed a Series A financing round totaling €6 million. In addition to the new investors BayBG Bayerische Beteiligungsgesellschaft and Lindner Group, existing investors Ananda Impact Ventures and Helen Ventures increased their current shareholdings.

EcoG’s vision is to equip the global EV charging network with forward-looking and sustainable technology in order to enable the rapid expansion of charging infrastructure and contribute to emission-free mobility for everyone. The new capital will accelerate the implementation of these goals.

Achieving profitability and quadrupling quarterly revenue compared to the previous year underline the strong position and momentum of the fast-growing technology company and provide an excellent foundation for further scaling, growth and international expansion in 2023.

Since 2017, EcoG has been driving innovation in EV charging and advancing industry standards as a member of CharIN. This expertise helps charging station manufacturers develop DC charging stations for electric vehicles quickly and cost-effectively. Customers include leading companies such as Siemens and i-Charging.

EcoG’s charging technology and operating system solution, EcoG | OS, can be deployed modularly either as a hardware-software solution or as a software-only solution. More than 15 different manufacturers already rely on EcoG across more than 24 charger series. Within just over two years, EcoG has achieved a market share of around 10% in Europe. The EcoG ecosystem, consisting of more than 50 partners, opens up numerous options for customers to individually implement their products.

With the new capital, EcoG is not only expanding its business in Europe and India, but is also significantly strengthening its market presence in the United States. In doing so, EcoG supports customers worldwide in accelerating their go-to-market strategies and scaling their own production of DC charging stations, thereby making a significant contribution to the transition to sustainable mobility. With EcoG | OS, EV charging becomes more integrated, scalable, sustainable and profitable.