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Bloomberg
Startup Amply Power has raised $13.2 million from investors including Soros Fund Management to advance the company’s electric-vehicle charging service for commercial fleets.
The Mountain View, California-based company helps commercial vehicle operators go electric by providing charging infrastructure and fixed prices to charge their vehicles.
Other investors in the round included Siemens Financial Services and existing seed-round investors such as Congruent Ventures, PeopleFund, and Obvious Ventures.
Amply sets up the physical charging infrastructure for commercial fleets like school buses and uses its software to manage the charging. The money will help the company deliver on existing contracts and scale up from pilot-phase contracts with fleets in the single digits to ones that it calls production scale.
“Coming out of the coronavirus, irrespective of what we’re having in oil pricing, fleet customers will continue to look towards electric mobility as the better option,†said Vic Shao, Amply’s chief executive officer.