The Dutch clean-tech startup ViriCiti today announced a new funding round worth €6.25 million – led by Energy impact Partners (EIP), Mainport Innovation Fund II (MIF II). Founded in 2012, ViriCiti provides an online telematics platform for electric and mixed bus fleets.
The fresh capital will be used to accelerate product development of ViriCiti Smart Charging, and growing ViriCiti’s team, offices, and existing customer base in North America.
ViriCiti offers an online platform to support transit operators with real-time insights into their fleet. By combining charging infrastructure with electric and non-electric vehicles in one platform, the company is streamlining the transition to all-electric fleets and working to drive the global transition to zero-emission transport.
ViriCiti CEO Freek Dielissen stated: “As we are right in the middle of energy and infrastructure services, Energy Impact Partners is the perfect partner for us to strengthen our ties with the US market and utilities. We will use this investment to open additional offices and to grow our team to ensure outstanding customer service, and to build up our sales network.”
Since 2015, ViriCiti has been a market leader in electric bus telematics in Europe and the United States, serving over 50% of the electric bus market. Stanford University in California was one of its first customers in the US. ViriCiti’s recent customers include New York City Transit, Toronto Transit Commission, as well as a large technology company in Silicon Valley that placed an order for 500 systems. All US customers are being served from ViriCiti’s office in South Carolina and Support Center in southern California.
For transit authorities, high capital costs for electric buses is still an obstacle in the transition to zero-emission fleets. Lowering grid power demand and charging costs is important for scaling electric fleets and speed up their return on investment. When electric fleets are growing, energy demand charges are increasing, leading to high charging costs and expensive grid connections for operators. Charging smart, with the right amount of energy at the right time, reduces demand charges and avoids peak time-of-use so that electric buses are kept in service where they belong.
ViriCiti’s company headquarters is in Amsterdam, and ViriCiti LLC is represented by two offices on the West Coast and East Coast of the United States. ViriCiti aims to lower emissions and accelerate the adoption of zero-emission vehicles on a global scale by offering an all-in-one solution.