Swedish electrical automobile charging firm Cost Amps raises $ 15 million, Auto Information, ET Auto
STOCKHOLM: Swedish maker of electrical automobile charging options, Cost Amps, mentioned on Friday it had raised 130 million crowns ($ 15.3 million) in a funding spherical led by Swedbank Robur, in anticipation of a IPO scheduled for subsequent 12 months.
Cost Amps, which develops good charging stations, cables and cloud software program, mentioned Swedbank Robur had additionally purchased shares value SEK 20 million, bringing its complete funding within the firm to 150 million.
The corporate will use this funding to broaden into key European markets, together with the Nordic nations and the UK, for R&D, and to organize for an IPO, which is slated for subsequent 12 months.
Based in 2012, Cost Amps mentioned it expects gross sales of 250 million crowns this 12 months and has greater than doubled its year-over-year development since 2018.
“This funding will assist us make sure the operational excellence required to make cost amplifiers public in 2022 and, in flip, be certain that people can proceed to form the intense way forward for our enterprise and automobile charging improvements. for years to come back, ”mentioned CEO Anders Bergtoft. in a report.
($ 1 = 8.5180 Swedish kronor)