2.5 million euros in fresh capital for Volteum

The electrification of company fleets is progressing in Europe. But for many fleet managers, this is just the beginning of the real challenge. They increasingly have to manage mixed fleets of electric, diesel and petrol vehicles. The London-based start-up Volteum has now closed a financing round of 2.5 million euros for precisely this purpose.

The round is led by Movens Capital. WakeUp Capital and Aidiom are also involved. Existing investors such as Day One Capital, Techstars and Nesprit are investing again. Together with a previous pre-seed round, the total capital raised rises to 3.75 million euros.

The new funds will be used in particular to finance expansion in the UK, the Benelux countries and the DACH region.

The unresolved challenge of fleet electrification

While many companies are gradually electrifying their fleets, new operational challenges are arising. Charging infrastructure, battery status, maintenance, home charging costs and different vehicle types need to be managed in parallel.

Many existing fleet management systems date back to the days of classic combustion fleets and are only designed for these requirements to a limited extent. Data is therefore stored in different systems, processes are controlled manually and important information remains unused.

According to Volteum, this can result in considerable avoidable costs for larger fleets.

One platform for all vehicle types

Volteum is developing a software platform that brings together data from charging processes, mileage, maintenance and vehicle use in a central interface. The solution directly accesses the data provided by vehicle manufacturers for modern vehicles. There is no need for additional hardware or workshop appointments for installation. According to the company, new fleets can be integrated within 48 hours.

With the help of AI and data-based analyses, the platform detects anomalies in vehicles or charging processes at an early stage, automates reports and provides recommendations for daily operations.

Based on more than three billion data points

According to the company, the platform is now based on more than three billion fleet data points. This results in recommendations for charge planning, maintenance, battery management and vehicle utilization.

Volteum promises to reduce manual administrative work by up to 90 percent and cut fleet operating costs by up to 30 percent. In addition, a special planning tool supports companies in making the long-term switch to electric vehicles cost-effective.

Well-known customers already on board

The company's customers already include organizations and companies such as Royal Mail, Bolt, Lex Autolease, Schneider Electric, OTP Bank, NG Bailey and Dundee City Council. Volteum now intends to use the fresh capital to acquire logistics companies, energy suppliers and leasing and rental companies in other European markets.

The market for fleet management is currently undergoing a fundamental change. While the focus has long been on vehicles and charging infrastructure, the focus is increasingly shifting to the software level.

This is because only the intelligent linking of vehicle, energy and operating data enables companies to actually exploit the economic benefits of electromobility. Volteum is positioning itself precisely at this interface and aims to become the central control level for the next generation of European vehicle fleets.