Ecog raises six million euros

The Munich-based e-mobility start-up has successfully completed its Series A financing round. Now the founders want to expand their market presence in the U.S.

Munich-based e-mobility start-up Ecog has raised six million euros in its Series A funding round, industry service electrive.net reports. BayBG and Lindner Group invested in the company for the first time in this round. Existing investors Ananda Impact Ventures and Helen Ventures further increased their stake in the company.

The start-up plans to use the fresh capital to grow further in Europe and India. In the coming phase, however, a particular focus will be on its market presence in the United States. So far, Ecog says its customers include 15 manufacturers, including Siemens and i-Charging. The company develops operating software for charging stations, which is intended to help with scaling in particular. Ecog says its in-house charging technology can be used either as a hardware-software or software-only solution.

The startup, founded in 2017, says it has achieved a ten percent market share in Europe with this technology. Ecog reached profitability in 2022, according to the company. The goal is a market share of 30 percent.