Reev is a provider of charging solutions in semi-public spaces. The cloud software of the Munich startup provides a fully automated platform for managing, controlling, and billing charging infrastructure. It is designed specifically to serve the needs of complex fleet situations such as companies, residential and commercial properties, or parking garages.
Several investors are convinced by this concept and are investing a total of ten million euros in Reev. The investors include Future Energy Ventures, a VC fund backed by leading energy utility companies, and Blue Earth Capital, a global impact investor. They join existing investors, including German energy utility N-Ergie.
Eduard Schlutius, founder and CEO of Reev, comments:
“We are pleased to work with two outstanding investors from the sustainability sector, who also bring highly relevant networks and proven scalability capabilities to help us achieve our ambitions in Europe.”
The capital from the funding round will help expand market position in the DACH region and enter new markets such as France and the Benelux countries. Additionally, the startup plans to expand its portfolio with new innovative products.
Reev contributes to decarbonizing transportation
“To support the energy transition, reliable infrastructure and, in particular, effective charging solutions for electric vehicles are essential. We believe that commercial buildings and multi-family homes are an underserved part of the charging ecosystem in Europe,”
says Kayode Akinola, Head of Private Equity at Blue Earth Capital, and adds:
“Reev’s software solution offers building owners and managers, as well as end customers, a seamless operational experience and enables maximum uptime. This positions the company well to accelerate the expansion and reliability of charging infrastructure for electric vehicles in these segments – an important step toward decarbonizing road traffic.”
Veronique Hördemann, Managing Partner at Future Energy Ventures, says:
“In our first fund, we made many successful investments in electric vehicle charging technology, where we witnessed the first wave of electric vehicle adoption. We recognized the untapped potential of multi-user building facilities as critical to widespread electric vehicle adoption. Reev has proven to be an outstanding player in this field and has an exceptionally talented team. The commitment and passion shown by the entire Reev team are truly remarkable – a sentiment equally shared by their satisfied customers and partners. We look forward to being part of this journey.”
