HomeFundingAmsterdam-based Chargetrip fuels up with €10 million to scale EV routing in...

Amsterdam-based Chargetrip fuels up with €10 million to scale EV routing in the US

Dutch startup Chargetrip is heading to North America, taking its EV routing technology across the Atlantic. The startup has just secured €10 million to fuel the plans. 

Electric Vehicles are growing in popularity across the world. Thanks to innovative startups and commitments to GreenTech development, new solutions are emerging that are empowering the adoption of this more sustainable and planet-friendly mode of transport. And it seems Europe is establishing itself as a leader in the global market.

Headquartered in Amsterdam, Chargetrip has developed a range prediction tool and EV routing engine which routes about 15% of Europe’s EVs. Now, the company has secured €10 million and is taking its tech to a North American audience as well as electrifying commercial fleets.

The round was led by HSBC Asset Management with participation from Riverstone and follow-on investments from Vindeggen, Axel Springer Porsche, and Blue Bear Capital.

Gideon van Dijk, CEO: “With this new round, we are doubling down to prove our technology doesn’t just tackle range and charge anxiety but it also slashes the costs for fleets that take the electrification plunge. Our goal is to make owning and operating EVs, privately or commercially, efficient, reliable, and seamless.”

Founded in 2017, Chargetrip has been a pioneer of the EV space in Europe. Its SaaS solution can predict the energy consumption and charging times for different EV makes and models on any route.

EV adoption is picking up pace around the world, but there is one common pain point: the anxiety about charging and having enough fuel to make the journey. Chargetrip removes that fear, capable of computing the entire route and including the optimal charge stations along the way. The solution also shows wait times at charge points, payment options and weather.

The innovative startup is also now making its API available for fleet electrification. With this update, fleets can simulate operations for data to decide on vehicles, battery capacity, and charge infrastructure, then orchestrate once operating, optimizing for cost, time, and driver experience.

In doing so, the company is contributing to more efficient and cost-effective fleet operations. One of the main problems for fleet operators in making the switch to EV has been the inability to accurately predict the amount of energy needed. it’s resulted in many firms overinvesting in battery capacity and charging infrastructure as well as being subject to daily energy cost fluctuations. Chargetrip is aiming to overcome these problems.

The Dutch startup now routes about 15% of EV drivers in Europe (according to 2022 data) and counts customers such as Sixt, Engie, Repsol, and Porsche.

With this new investment, Chargetrup will be able to accelerate forward plans to expand to North America. It’ll also support the company to prepare more commercial fleets for electrification.

Christophe Defert, Head of Climatech Investments at HSBC Asset Management: “We are pleased to support Chargetrip on their Series A fundraise. As fleet operators and auto OEMs rapidly electrify their vehicles, Chargetrip’s routing and planning technology make charging intelligent, transforming the driver experience and optimizing fleet operations. The future of electric powered fleets will not only be about building the charging infrastructure, but also orchestrating those fleets with new dispatching and telematics technology, which Chargetrip brings together.”

Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.

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