French startup Electra lands €15 million to transition to EVs with 1000 ultra fast charging stations.
Today, freshly founded startup Electra which is to bring ultra fast e-charging stations for EVs across all France making the whole experience of charging simpler and more user friendly, has raised €15 million in a funding round. The fundraising was a contribution of Serena, Eurazeo and Frst Venture along with several angel investors from energy mobility and real estate such as Grégory Frapet, Thibault Chassagne and Karim Kaddura, Bertrand Altmayer and others that also participated in the funding.
The company’s plan is to utilize the funds to eventually build 1000 ultra-fast electric vehicle stations across France by 2030. A plan that’s aiming to switch to electric mobility to both reduce CO2 emissions and additional noise produced by traditional fossil fuel vehicles, improving the overall quality of life. Founded by Aurélien de Meaux, Maxime Garcia, Augustin Derville with 15 employees across Paris, Electra is to deploy the first batch of 50 ultra-fast charging stations within a year. The funding will also allow the company to meet its objectives as well as invest in R&D to better improve the recharging experience.
“During the first lockdown in 2020, we realized that we were living in less noisy, less polluted cities, but it was only temporary. We like the idea that in 20 years’ time, thanks to electric mobility, our cities will breathe, and we will find a peaceful quality of life. It’s only a matter of time before everything goes electric, from two wheels to the car. Even financial concerns are bound to disappear, as electric car prices are expected to fall by 50% in the next 5 to 6 years. Clean mobility will no longer be a luxury,” says de Meaux.
These super speed charging stations, 100% financed by Electra, will be positioned in shopping centers, supermarkets, hotels, or parking lots. The first stations are planned for installation in Q4 of this year. The company’s thinking falls in line with the UK’s commitment to ban the sale of new fossil fuel vehicles from 2030, and a number of member states have similar thoughts by 2035.
“Decarbonizing the automotive market is one of the biggest challenges of the 21st century. In 2020, the French electric vehicle market grew by +180%, while the all-energy market fell by -25%. This growth seems unprecedented, yet it is largely hampered by the lack of infrastructure. Electra’s ambition is to completely erase the friction with the adoption of electricity by deploying the most efficient network of ultra-fast charging stations in France. We have been working with its founder Aurélien since 2014 when we invested in his previous company and are convinced of his ability and that of his team to build a European leader.” explained Xavier Lorphelin, Managing Partner at Serena.
Source: Electra “Electra raises 15 million euros to revolutionize the charging of electric cars”