Elvah raises 3.2 million euros

The charging pillar start-up convinced several Buiness Angels, including prominent minds like Fabian Paul.

Charging electrically powered vehicles is still only possible in a chaotic way in Germany. Various start-ups want to bring order, such as Elvah, which unites 150,000 charging stations in an app and offers rates 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 investor:s on board to support us in our venture," says co-founder Gowrynath Sivaganeshamoorthy. "However, we have also seen that our future plans have convinced the Investor:ins. We are therefore already looking forward to the next funding round, which will follow soon", announces Sivaganeshamoorthy.

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 offers the first true flat rate for charging e-vehicles. Similar to what happened at the time with flat rate offers in the telecommunications market, the market thus becomes not only transparent for the broad masses, but also affordable." And Hansen sees the Berlin-based company as providing stable supply and growth "in stark contrast to short-term loss-leader offers" from competitors.

Elvah grew out of software agency Kreait, whose orders plummeted due to the Corona 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.