Reev is a provider of charging solutions in semi-public spaces. Cloud software The Munich-based startup's platform provides a fully automated platform for managing, controlling, and billing charging infrastructure. It is specifically designed to meet the needs of complex fleet situations such as companies, residential and commercial properties, or parking garages.
Several investors are now convinced by this concept and are investing a total of ten million euros in Reev. The backers include Future Energy Ventures, a VC fund with participation from leading energy companies, and Blue Earth Capital, a global impact investor. They join existing investors, including the German energy provider N-Ergie.
Eduard Schlutius, Founder and CEO of Reev, comments:
“We are delighted to partner with two outstanding investors in the sustainability space, who also have highly relevant networks and proven scaling capabilities to realize our ambitions in Europe.”
The capital from the financing round will help to expand the company's market position in the DACH region and to develop new markets such as France and the Benelux countries. The company also plans to Startupto expand its portfolio with new innovative products.
Reev contributes to the decarbonization of transport
"To support the energy transition, reliable infrastructure and, in particular, effective charging solutions for electric vehicles are crucial. We believe that commercial buildings and apartment buildings are an underserved part of the charging ecosystem in Europe,"
says Kayode Akinola, Head of Private Equity at Blue Earth Capital, adds:
"Reev's software solution provides a seamless operational experience for building owners and managers, as well as end customers, enabling maximum uptime. This positions the company well to accelerate the expansion and reliability of electric vehicle charging infrastructure in these segments—a key step toward decarbonizing road transport."
Veronique Hördemann, Managing Partner at Future Energy Ventures, says:
"In our first fund, we made many successful investments in the electric vehicle charging space, where we witnessed the first wave of electric vehicle adoption. We recognized the untapped potential of multi-user building facilities as critical to the widespread adoption of electric vehicles. Reev has proven itself to be a prominent player in this space and has an exceptionally talented team. The commitment and passion demonstrated by the entire Reev team is truly remarkable, a sentiment shared by their satisfied customers and partners alike. We are excited to be part of this journey."
