Swedish green tech startup Charge Amps raises $15M for its EV charging solutions ahead of its upcoming IPO

Charge Amps, a Swedish green tech startup and maker of electric vehicle (EV) charging solutions, announced today it raised $15 million (€12.8 million) to further expand and establish Charge Amps’ European presence in key markets for 2021 including the Nordics, the UK, and prepare for an IPO. The round was led by Swedbank Robur via its equity funds, Microcap and Ny Teknik.

The announcement comes ahead of the company’s planned IPO slated for next year. In addition, lead investor Swedbank Robur has purchased shares corresponding to approx. €1.9 million from current shareholders, bringing its total investment in Charge Amps to around €14.7 million.

Charge Amps will also use the new capital infusion for R&D to enhance its product offering and innovation, and to ensure operational excellence in preparation for an IPO, which is planned for next year.

Founded in 2012, Charge Amps develops smart AC charging stations, cables, and dedicated cloud software for use at home, in connection to commercial properties and offices, and in public environments.

In a statement, CEO Anders Bergtoft said, “This investment will help us ensure the operational excellence required to take Charge Amps public in 2022, and in turn, ensure that individuals can continue to shape the bright future of our company and EV charging innovations for years to come.”

Bergtoft continued, “Demand for our smart and uniquely designed products has been boosted by government incentives and net-zero emission goals, but most of all, it has been driven by an ever-growing group of customers determined to contribute to a greener future. This investment will help us ensure the operational excellence required to take Charge Amps public in 2022, and in turn, ensure that individuals can continue to shape the bright future of our company and EV charging innovations for years to come.”