ABB EL Ventures, the venture arm of electronics giant ABB, has made an investment in charging software provider ChargeLab, as part of the latter’s $15-million Series A financing round. ABB E-mobility first partnered with ChargeLab in 2020.
ChargeLab will develop next-generation software solutions for ABB charging stations. The company’s network services already run on top of ABB’s charging solutions, the Terra DC and Terra AC wallbox, using the Open Charge Point Protocol (OCPP). ChargeLab’s modular and scalable software is designed to enable fleets, building operators and utilities to deploy large networks of EV chargers. Key capabilities of the platform include automated monitoring of chargers, pricing and access rules, EV driver payment processing and electrical load balancing.
“ChargeLab is ideally positioned to scale with the needs of the enterprise customers that ABB E-Mobility serves,” said ABB Senior VP Bob Stojanovic. “ChargeLab’s unique approach to EV charger management will make it easier to deploy, manage and monetize ABB charging stations.”
“EV charging in the next decade will be about scale,” said Zak Lefevre, co-founder and CEO of ChargeLab. “The EV charging industry has huge gaps in reliability and convenience today. This partnership is not about improving EV charging for a few EV drivers, it’s about leveling up this industry for millions.”