Finland’s platform for electric vehicle charging Virta secures €85M growth funding
27 April, 2023, 15:28
The Helsinki-based Virta, a global company that develops smart electric vehicle charging services, has announced a new €85 million funding led by Jolt Capital. The company plans to accelerate its growth in Europe and Asia-Pacific region.
- Established in 2013, Virta offers smart charging services with a focus on energy technologies such as vehicle-to-grid, autonomous vehicle charging, and operating complex billion-scale network operations. In 2022, Virta Group’s annual revenue grew 112% to €39 million.
- Over 1,000 EV charging companies in 35 countries provide their EV charging services on the Virta platform. Including roaming, the network enables EV drivers with access to over 350 000 charging points.
- The round consists of €65 million of equity investment from Virta’s existing investors — French private equity firm Jolt Capital, with participation from Future Energy Ventures, Helen Ventures, Vertex Growth Fund, Finnish Industry Investment, Lahti Energy, Vantaa Energy, and Kotka Energy.
- An additional €20 million will be received from Business Finland, the government organization for innovation funding and trade, travel and investment promotion.
- Virta will spend the fresh funding to grow its charging transactions by more than fivefold in Europe and the Asia-Pacific region by 2025.