Lithuanian fund Contrarian Ventures co-leads €3.6M round for French Decade Energy

Decade Energy, a French startup providing logistics companies with solutions that enable the electrification of commercial electric vehicle fleets, has raised €3.6 million in a seed funding round. Ananda Impact Ventures and the Lithuanian fund Contrarian Ventures co-led the investment. It will help the startup to accelerate the decarbonization of logistics fleets, informs.

About Decade Energy

  • Decade Energy was co-founded by Carl-Magnus Norden, Alexandre Cleret, Alejandro Ortega, and Mariela Atanasova. It provides a Truck-as-a-Service solution for logistics companies in electrifying their fleets and upgrading their charging and electrical infrastructure. The startup claims that it simplifies the electrification process by integrating and managing these systems for customers enhancing operational and environmental efficiency for logistics providers.
  • Headquartered in Paris, the company has a pan-European network and presence to service its international customers. Its first three core markets are France, Germany, and Sweden. Its integrated smart charging and energy management software reduces the overall energy and the cost of electricity consumed.

Investment details

  • The fresh seed funding was co-led by Ananda Impact Ventures, a Munich-based venture capital fund with a pan-European investment remit, managing capital of €200 million in four Core Impact Funds.
  • Contrarian Ventures, a Vilnius-based seed-stage venture company focused on investment in climate tech startups from Europe and Israel, is also one of the lead investors. Earlier in May, the fund invested in Ember during its $14 million Series A funding round.

Decade Energy addresses the large and rapidly growing market of distribution traffic electrification that needs innovative solutions and technology providers like Decade Energy if we are to meet our climate targets. The team’s focus on and experience of servicing the segment that will be the first to be disrupted, is one of many strengths that influenced our decision to partner with the company,

Tomas Kemtys, Partner at Contrarian Ventures, said.

The startup will use the investment to accelerate the decarbonization of logistics fleets via simplifying the transition to electric vehicles (EV) and making them cost-competitive compared to diesel.