Bulgarian startup Ampeco secures $13M Series A round led by BMW iVentures

Bulgarian startup Ampeco has secured $13 million in the Series A round. The startup develops electric vehicle charging management systems for large-scale enterprises. BMW iVentures led the funding, LauncHub Ventures and Cavalry Ventures participated, TechCrunch reports.

Ampeco secures $13M
Image: Ampeco’s Executive Team
  • Founded in 2018 Alexander Alexiev, Orlin Radev, and Stefan Ivanov, Ampeco enables large-scale EV charging providers to launch and scale their business operations under their own brand, be it public sector, private business fleets, or residentials.
  • Currently, Ampeco supports more than 110 charging network operators in over 45 markets, reached 62,000 charging points, and doubled in size to over 80 people.

“As EV sales are proliferating, access to EV charging infrastructure becomes more critical than ever. Ampeco’s hardware-agnostic and comprehensive software solution enables clients to launch and grow their own EV charging networks quickly,”

Baris Guzel, Partner at BMW i Ventures, comments.
  • BMW iVentures, a BMW investment arm focusing on high-performance technology startups, led the Series A round. Bulgarian LauncHub Ventures and German Cavalry Ventures also participated in the funding together with several business angels.
  • Including the recent investment, Ampeco has raised a total of $16 million to date. The startup plans to use the fresh funds to drive further into North America, as well as generally growing its product.