Elvah raises 3.2 million euros

The charging station start-up has convinced several business angels, including prominent figures such as Fabian Paul.

Charging electric vehicles in Germany is still only possible in a chaotic manner. Various start-ups such as Elvah, for example, want to bring order to the situation by combining 150,000 charging stations in an app and offering tariffs as a flat rate. The start-up has now convinced several business angels and raised 3.2 million euros. The money will be used to further optimize the app and expand the B2B business.

"We are proud to have a number of committed investors on board to support us in our endeavors," says co-founder Gowrynath Sivaganeshamoorthy. "But we have also seen that our future plans have convinced the investors. We are therefore already looking forward to the next round of funding, which will follow soon," announces Sivaganeshamoorthy.

The business angels are Friedrich Neuman, Partner at venture capitalist Norrsken, Yoove Mobility Group founder Fabian Paul and Rolf Hansen, founder of Simyo. The latter explains his investment: "With its creative solution, the team is offering the first real flat rate for charging electric vehicles. Similar to what happened with flat-rate offers in the telecommunications market, the market will not only become transparent for the masses, but also affordable." And Hansen sees the Berlin-based company as a stable offering and growth, "in contrast to the short-term loss leaders" of the competition.

Elvah emerged from the software agency Kreait, whose orders collapsed due to the coronavirus pandemic. In 2020, Sivaganeshamoorthy, Wilfried Roeper and Sören Ziems founded the start-up, taking the team, expertise and money from Kreait with them. Further funding was made possible by a family-and-friends batch at the end of 2020.