Ampcontrol Secures $10M in Series A Investment Round

AI-powered fleet software provider, Ampcontrol, has successfully raised $10M in a Series A round led by The Westly Group and supported by AngelPad and Lorimer Ventures.

The funds will fuel further expansion in response to the vital need for efficient solutions in the transition from internal combustion engines to electric vehicles. Ampcontrol's software, currently used by over 20 fleet operators globally, addresses critical challenges such as high energy costs and charger downtime, aiding on-time departures and cost control.

Key clients include WattEV, First Bus, and Revel. Revel reportedly saved over 45% on monthly energy costs through Ampcontrol’s AI solution. The company's advanced software, offering features like 24/7 hardware monitoring and dynamic load management, connects with EV charging hardware and vehicles for real-time decision making. Ampcontrol, with its best-in-class uptime of 99.995%, is quickly becoming a trusted partner in the EV fleet charging market.

Company founder and CEO, Joachim Lohse, welcomed the new investments, confident of Ampcontrol's potential to lead the technology evolution for electric fleets.

Funding led by: The Westly Group

Participation from: AngelPad, Lorimer Ventures

Total Funding Amount: $14.1M

Customers Include: WattEV, First Bus, and Revel

Funds Use: To expand operations and increase business reach.

About: Ampcontrol is an AI-powered software solution for fleet operators.