With 1.4 million vehicles sold in 2020, Europe has become the largest EV market ahead of China. In this context of growing electrification of mobility, the sector of EV charging infrastructure and digital platforms is rapidly consolidating.
Virta offers a unique solution to launch, scale and operate commercial EV charging services for different industries such as energy, oil and real estate – as a primary business or as a value-added service. Virta’s patented innovations provide a seamless digital user experience, which different companies can co-brand further to their end customers.
Jolt Capital, a growth equity firm focused on scaling European technology companies, led this €30M round in Virta with its new fund Jolt Capital IV. Finnish Industry Investment (Tesi) and Singapore-based Vertex Growth joined as co-investors, together with ENEOS, the leading integrated energy company from Japan. All Virta current shareholders also participated in the round.
“As a growth capital investor enabling impactful technologies, Jolt Capital will be supporting Virta to become the leading EV charging platform in Europe and Asia. This is a fast-growing market requiring many energy, mobility and cybersecurity challenges to be addressed in a sustainable manner. Very few companies can achieve this, but we are convinced Virta is among those, given its unique technology edge, particularly with respect to V2G” comments Laurent Samama, Partner at Jolt Capital.
Virta will use this funding to strengthen its leading position on the European market, providing Europe with a sovereignty element in the fields of mobility infrastructure and renewable energy management. With this round, Virta will also aim at securing new key customers, expand its market share in Asia and consolidate its software platform with artificial intelligence.
Founded in Finland in 2013, Virta quickly grew to become a platform used in more than 30 countries by nearly a thousand B2B-customers, including several of the largest companies in the world representing a variety of industries. The platform operates 30000 charging stations serving the needs of over 200000 end-users. Ranked as one of the fastest growing company in Europe in 2020 by the Financial Times, Virta has offices in France, Germany, Sweden and the UK. “The Virta platform allows industries to expand their business in EV charging with a market proven solution, which also integrates electric mobility as a flexibility element of the sustainable energy system. Jolt Capital has extensive knowledge in hardware/software infrastructures, especially in telecom, and a high-level network of decision makers which will prove invaluable when we approach new big players to sign them. We complement each other well and will jointly achieve the ambitious growth targets we’ve set together” said Jussi Palola, CEO of Virta.
Virta is one of Europe’s fastest growing companies (FT 1000). Our platform enables companies to maximize business benefits and gives fast and cost-efficient channel to launch, operate, and scale an EV charging business. Virta operates in 30 countries globally enabling EV charging services of nearly one thousand charging networks operating on Virta Platform. Virta is one of the biggest market players in Europe offering over EV charging thorough 170,000 charging points in our roaming network. www.virta.global