ROCSYS raises $6.3M to strengthen its leadership position in robotic EV charging solutions
ROCSYS, the global leader in robotic EV charging solutions, has raised 6.3 million dollars (5.25 million Euros) in a round led by Forward.One. The investment provides a solid basis to scale up activities throughout Europe, and launch a North-American business unit, now that robotics starts to enter the global EV charging domain.
"The coming period will be pivotal for our business. We will move from technology development and commercial pilots to serial deployment. We are ready for the future, and are very well positioned to engage the full market potential" said Crijn Bouman, CEO of ROCSYS. "Automation brings EV charging to the next level of reliability and performance. This is crucial to the success of EVs in large professional operations, for example operations depending on fleets. With the investment and support of our great investors, we will make that happen."
The entire investment is done by ROCSYS’ exisiting investors: Forward.One and Superangel. To date, ROCSYS has raised a total of $9 million (€7.5 million) since its founding in 2019, which includes additional funding by UNIIQ and grants.
Frederik Gerner, partner at Forward.One, said: "We are truly impressed with the speed and professionalism of the ROCSYS team. Within record time, ROCSYS managed to bring very advanced technology to a marketable solution, while signing partnerships with several of the largest brands in the industry. The simplicity of their solution, using industry-standard vehicle connectors, makes it an obvious choice for major vehicle OEMs. This is why we decided to increase our stake, and to lead this second investment round."
Enabling scalable operations with EVs
The highly-experienced entrepreneurial team addresses a key challenge in the booming EV ecosystem. ROCSYS' robotics and site automation services make EV charging truly seamless. This enables unprecedented performance for professional operations, and the best imaginable experience for drivers and operators.
ROCSYS supports large vehicle OEMs in their electrification efforts, as an optimal EV-charging operation is a key factor in making the use of EVs a winning proposition. The crucial points herein are throughput, reliability, cost efficiency and safety. ROCSYS addresses these points with its products. Additionally, as the automotive world steadily moves towards self-parking and self-driving, automation of charging becomes inevitable for the globally installed base of EV chargers.
ROCSYS' patented soft-robotics technology and AI-based computer vision allow for safe and cost-efficient automation of the standard EV-charging connection. Its products can automate existing fast chargers up to 350kW and MW-capable chargers in the near future, allowing electric vehicles of all types to be charged automatically within minutes. Together with a suite of site-automation services, remote support, and API integration, operators can move to truly unmanned charging operations. This unlocks unprecedented functionality, performance, and ROI of their charging- and EV assets, while simultaneously getting prepared for the era of self-parking and self-driving.
"We have been supporting ROCSYS from the start with full confidence in its team, who have earned their credits in the EV and robotics space. They are working with the major players in the market, and are leading the development of the robotic charging ecosystem. They are really in the driver’s seat everywhere, including the international standardization committees about robotic charging" said Veljo Otsasson, partner at Superangel.
FORWARD.one is a VC fund focussed on investing in high-tech start-ups and scale-ups. With a team of financial professionals and technology entrepreneurs, FORWARD.one actively supports their portfolio companies to achieve their goals and ambitions. After successfully deploying the first fund, FORWARD.one has started raising its second fund and keeps on investing in promising high-tech entrepreneurs and their companies.
Superangel is an early stage investment fund based in Estonia, created by entrepreneurs for entrepreneurs. As a syndicate of company builders, the Superangel team helps founders reach their next major milestone, providing expertise in go-to-market strategy, customer and business development, recruiting, sales, marketing, and product development.
11 May, 2021