Electric Vehicle charging point startup Monta has raised €15m funding in their Series A round led by Stockholm-based Creandum with a significant investment coming from US venture firm Headline.
Headline have previously invested in Klarna, Bumble, Farfetch and Sonos.
With the €15m raised in the latest funding round, Monta have now raised more than €20 million since the company was founded just one year ago.
Monta offering electric vehicle charging from as little as £6 per month and have identified the the need for 400,00 charging points across the UK.
“Monta is the ultimate companion to any electric vehicle. By focusing on open software standards, the team is building the operation system for anyone that seeks or provides EV charging. Solving the hurdles of public charging means accelerating EV adoption: Headline supports this vision and the Monta team has the deep product experience and ability to execute it at speed.” says Jonathan Becker, Partner at Headline.
Casper Rasmussen, CEO and Co-founder of Monta, has outlined their plans to make EV charging points more accessible and the funds will be used to help expand their network and services for drivers.
“Our mission is to accelerate EV adoption through innovative software and services. For too long the EV ecosystem has been dominated by old-school players like electricity companies, hardware manufactures and charge point operators. As a tech company, we’re building a charging architecture free from legacy software that is ready to scale across borders and hardware. With this latest funding round, we’re one step closer to accomplishing this mission,” Rasmussen said.