From Bulgaria, the EV charging platform making networks scalable and more robust

AMPECO provides OEMs with a charging platform that can pull in hardware from multiple partners, leaving them to focus resources on other customer experiences or services.

Bulgaria may have one of the lowest numbers of electric vehicle (EV) charging points in Europe (just 1,624 at the end of 2023, compared with 2,754 in neighbouring Romania, and 3,166 in Greece, according to data from the European Automobile Manufacturers Association), but one of its most promising tech start-ups is currently revolutionising the way EV charging networks across the world are managed.

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AMPECO, a Sofia-based provider of EV charging management solutions, this week secured 26 million US dollars in a Series B funding round led by Revaia, with participation from existing investors Cavalry Ventures, BMW i Ventures, and LAUNCHub Ventures.

It brings the total amount raised by the firm since it was founded in 2019 to 42 million US dollars.

The Series B will fuel AMPECO’s growth plans while accelerating product enhancements and expanding into key markets like Western Europe, the Nordics, the UK, North America, and Southeast Asia.

“To support this, we aim to double our team size in the next two years,” says Baycho Georgiev, AMPECO’s Chief Marketing Officer.

AMPECO provides original equipment manufacturers (OEMs) with a charging platform that can pull in hardware from multiple partners, leaving them to focus resources on other customer experiences or services.

The company operates an API-first approach and recently launched a developer portal, enabling large-scale operators to build custom solutions on top of its platform. 

Versatile, reliable

“This investment is a testament to the hard work of our team and the trust our clients place in us,” says Orlin Radev, CEO of AMPECO.

“With this funding, we’re poised to further drive innovation in EV charging management software, helping our clients build and scale robust charging networks that will accelerate the global transition to electric mobility. The positive market feedback has reinforced our vision for 2025 as we prepare to launch new platform capabilities focused on operational excellence and network scalability.”

Since its Series A funding in 2023, AMPECO has seen remarkable growth. It now serves over 160 clients across 60 markets and connects more than 120,000 charging stations to its platform.

“Our platform’s versatility and reliability have attracted major EV charging providers across multiple regions,” says Georgiev. “To name a few, in Europe, E.ON Drive Infrastructure has implemented our solution across 11 countries, while French market leaders ChargeGuru x Zeplug and INDIGO Group have chosen AMPECO to power their charging networks.

“Our expansion list continues with partnerships including US-based Free2Move and Nordic pioneers Wattif and Elaway, demonstrating our platform’s ability to meet the complex needs of large-scale EV charging providers globally beyond use cases and territories.”

Critical infrastructure

AMPECO’s new partner Revaia is a leading technology investor, partnering with mission-driven entrepreneurs with global ambitions and sustainable leadership.

With the support of major institutions, such as the European Investment Fund, Revaia helps growth-stage companies navigate their entire life cycle from Series B to IPO or buyout. Revaia builds bridges between venture, private equity, and public markets and is a supportive sparring partner for entrepreneurs who are working to transform the world for the better.

With offices in Paris, London and Berlin and presence in North America, its diverse team brings hands-on expertise and unique ESG know-how to the most promising technology scale-ups.

“AMPECO’s unmatched customisation, scalability, and seamless integration with third-party systems make it stand out as a key player in the charge point management space,” says Morgan Kessous, partner at Revaia.

“In a market that demands both flexibility and reliability, AMPECO’s platform provides the critical infrastructure businesses rely on to operate their EV charging networks efficiently and at scale.”

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