EV charging provider ubitricity has raised €20 million in Series C funding to expand its mobile metering technology for EV charging. A new shareholder, automaker Honda, joined existing shareholders EDF and Next47 in the investment.
The funding will be used to accelerate the deployment of ubitricity’s charge points, including retrofitted lamp posts and real-estate installations, across the UK, Germany, France and the US. Nidec says its mobile metering technology reduces charging infrastructure costs and removes the need for dedicated parking bays.
“We are now putting charging stations right outside people’s front doors, where millions of Europeans park their vehicles today, and at a time when more electric vehicles than ever are being sold,” said Knut Hechtfischer, co-founder of ubitricity.