Investment to scale Charging-as-a-Service model that offers fleet managers hardware agnostic infrastructure support and an operating system to reliably and cost-effectively charge commercial electric vehicles
Amply Power, a provider of charging solutions for commercial electric vehicle fleets, has secured $13.2 million in Series A funding from investors, including Soros Fund Management and Siemens, the company reported on Tuesday. They are joined by existing seed round investors, including Congruent Ventures, PeopleFund, and Obvious Ventures.
Founded by Vic Shao, Amply Power employs a Charging-as-a-Service approach in which fleet operators pay a price-per-mile-driven fee. Amply's software is designed to optimize and aggregate vehicle charging to minimize energy costs and maximize vehicle uptime.
The company assumes financial responsibility of the utility account for charging and bills the fleet customer for ongoing vehicle miles. Amply also performs onsite operations and maintenance services and invests in technology upgrades as the needs of the fleet evolve.
Amply services include charging hardware deployment, management of depot upgrades and utility interconnections, real-time software-controlled charge optimization, debt financing of capital expenditures, and resiliency planning.
"With reduction in transportation emissions brought by the coronavirus pandemic, cities around the world have a window into the air quality we deserve once society transitions to electric mobility," said Amply CEO Vic Shao. "At Amply, it is our mission to take the technical guesswork out of electrification infrastructure so fleets can scale their zero-emission deployments with confidence while delivering cleaner air for their communities."
