Monta, the EV charging platform provider, has announced its growth strategy in the UK following a successful Series B funding round that raised €80 million. Although headquartered in Denmark, the company has London offices, where it employs 10 individuals in various roles. Monta’s single software solution serves hardware providers, operators, businesses, and EV drivers. Alok Dubey, Monta’s Regional Director for Western Europe said that the company aims to double its employee headcount while increasing its number of charge points in the UK by 80% and its annual recurring revenue generated in the country by 130%.
Dubey explained that Monta’s UK team has established strong connections with major players such as Rolec, Egg, and SyncEV, as well as renowned fleet companies like IKEA, Hived, and Stuart Delivery to assist them in transitioning to sustainable fleets. Monta will continue to create new partnerships with public and private sector companies to help the UK’s EV movement.
Monta’s software simplifies charging operations for all participants by seamlessly linking energy providers with end-users. The latest funding round was led by Energize Capital, with Headline, byFounders, AENU, and Creandum returning. Quantum Light, GreenPoint Partners, and Denmark’s Export and Investment Fund are among the new investors.
According to Dubey, EVs and charging infrastructure are critical components of the global change towards decentralized electrification, with Monta’s software platform an essential enabler of this transition in energy and mobility. He states that the additional funding provided by the latest round will aid UK partners in making EV driving more accessible and simple to adopt. Although UK transport accounts for approximately 26% of the nation’s carbon emissions, decarbonizing the transport sector is essential in achieving climate goals. Dubey stressed that the UK urgently needs to establish a more extensive and accessible network of EV charge points as of the end of December 2023; there were around 975,000 fully electric cars and nearly 315,000 battery-electric cars registered, demonstrating the need for expansion.