AMPLY Power secures $13-million in funding for Charging-as-a-Service fleet products

Fleet charging solutions provider AMPLY Power has secured $13.2 million in Series A funding from investors including Soros Fund Management and Siemens, as well as existing seed round investors, including Congruent Ventures, PeopleFund and Obvious Ventures.

AMPLY Power’s comprehensive Charging-as-a-Service offering for fleet operators ensures each electric truck or bus is charged and ready for work each day, in exchange for a price-per-mile-driven fee. AMPLY’s proprietary software optimizes and aggregates vehicle charging to minimize energy costs and maximize vehicle uptime.  Customer Tri Delta Transit found that it saved up to 40 percent on charging costs using AMPLY’s solution.

AMPLY’s services include charging hardware deployment, management of depot upgrades and utility interconnections, real-time software-controlled charge optimization, debt financing of capital expenditures and resiliency planning. The company deals directly with the electric utility and bills the fleet customer for vehicle miles.

“At AMPLY, it is our mission to take the technical guesswork out of electrification infrastructure so fleets can scale their zero-emission deployments with confidence,” said AMPLY CEO Vic Shao.

“The major hurdle most electric truck and bus pilots face is the charging infrastructure. In fact, charging fleets without incurring hefty utility bills is the key obstacle for most electric fleets to scale towards full deployment,” said Siemens VP Iti Jain. “AMPLY’s mission dovetails with Siemens’ strategy of making electromobility adoption easy, and we look forward to supporting AMPLY’s growth with our extensive experience in the energy and transportation sectors.”

Source: AMPLY Power