Helsinki-based Virta, an electric vehicle (EV) charging platform, announced that it has secured €85M in growth funding to increase the impact of EVs on energy flexibility markets and accelerate growth in Europe and Asia-Pacific.
€65M in equity investment came from Virta’s existing investors led by Jolt Capital and co-invested by Future Energy Ventures backed by E.ON., Helen Ventures, Vertex Growth Fund, Finnish Industry Investment, Lahti Energy, Vantaa Energy, and Kotka Energy.
The remaining €20M comes from Business Finland, which offers innovation funding for companies and research organizations.
Founded in 2013, Virta claims to be a global leader in developing smart electric vehicle charging services. The company says, “Our vision is a clean, carbon-free future with silent EVs driving emission-free down the street, and our passion, as an industry forerunner, is to fulfill that future.”
The company’s platform provides a cost-effective method for launching, scaling, and operating commercial services in an EV charging ecosystem, whether as a core business or a value-added service.
Currently, more than 1,000 professional EV charging businesses in 35 countries run their EV charging services on the Virta platform.
These charging network operators comprise one of the biggest public networks in Europe. Including roaming, the network offers EV drivers access to over 350,000 charging points.
With the raised capital, the company aims to increase charging transactions by over 5X in Europe and the Asia-Pacific region by 2025.
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