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Erapid, an electric vehicle (EV) charging solutions provider, <a href="https://cms.mercomindia.com/ev-charging-firm-erapid-raises-32-million/" target="_blank" rel="noopener">raised</a> €30 million (~$32 million) from Aviva Investors, the global asset management business of Aviva. The phased investment by Aviva Investors, as part of its Climate Transition Real Assets strategy, will enable Erapid to expand its operational capabilities and network of chargers across Ireland. Erapid trades in Ireland as EasyGo and CarCharger EV and currently manages over 4,000 charging points in 1,500 locations across the country. In addition, and as part of the transaction, Rubicon Capital Advisors, an Irish-based merchant banking boutique and one of Erapid’s largest shareholders, will also increase its stake in the company to further assist with the growth of the business.
Cosmos Innovation, a solar AI tech solutions firm, has <a href="https://cms.mercomindia.com/solar-ai-startup-cosmos-innovation-raises-19-7-million/https:/mercomcapital.com/solar-ai-startup-cosmos-innovation-raises-19-7-million/" target="_blank" rel="noopener">raised</a> $19.7 million in Series A funding led by Xora Innovation, an early-stage, deep-tech investment platform of Temasek, a global investment company headquartered in Singapore. The funding will help support the company’s AI-driven approach to developing perovskite silicon tandem solar cell technology. The round also saw investments from Endeavors, which led the seed round; Two Sigma Ventures; DeepMind CEO Demis Hassabis; MIT professor Tomaso Poggio; Richard Socher, natural language processing researcher, CEO of You.com and managing partner at AIX Ventures; and Western Technology Investments, a venture debt fund in Silicon Valley.
Oil and Natural Gas Corporation is set to acquire PTC Energy Limited (PEL), a wholly-owned subsidiary of PTC India, at a transaction <a href="https://www.mercomindia.com/ongc-acquire-ptc-renewable-subsidiary-%e2%82%b99-25-billion" target="_blank" rel="noopener">valued</a> at ₹9.25 billion (~$111.18 million). Through PEL, its subsidiary formed in 2008, PTC has commissioned seven wind power projects spread across Andhra Pradesh, Karnataka, and Madhya Pradesh with a generation capacity of 288.8 MW. This transaction is subject to the fulfillment of conditions precedent and other terms and conditions per the share purchase agreement to be executed between the parties.
Ampacimon, a grid monitoring solutions provider, <a href="https://cms.mercomindia.com/ampacimon-grid-monitoring-raises-series-c-funding/" target="_blank" rel="noopener">raised</a> €10 million (~$11 million) in Series C funding from Junction Growth Investors along with existing investors Korys, Noshaq, Creos, and Gesval. The company provides dynamic line rating, partial discharge monitoring, and fault detection solutions, which they claim can enhance power transmission capacity by an average of 30%. Simultaneously, they strengthen operational reliability by enabling early detection, diagnosis, and pinpointing of potential failures. The company harnesses data from advanced sensors deployed on grids to optimize its customer’s T&amp;D assets.
Fastned, a provider of EV Charging solutions, <a href="https://fastnedcharging.com/hq/fastned-raises-more-than-30-million-in-new-bonds-to-further-grow-its-network-across-europe/" target="_blank" rel="noopener">raised</a> €30.4 million (~$32.3 million) through the issue of new bonds. In addition, investors have extended €3.5 million (~$3.7 million) worth of investments from earlier issues, bringing the total issued amount in this round to €33.9 million (~$36 million). The bonds have a 6% coupon and a five-year maturity. This 13th round in the bond program brings the total outstanding investments raised with retail investors to more than €163 million (~$173 million).
Canadian Solar announced the successful <a href="https://investors.canadiansolar.com/news-releases/news-release-details/canadian-solar-successfully-issues-jpy-185-billion-green-samurai" target="_blank" rel="noopener">placement</a> of a JPY18.5 billion (~$120 million) green samurai private placement to help fund the company&#8217;s growth strategy. Goldman Sachs Japan was the lead arranger and sole book runner with the domestic bond investors. The private placement has a three-year tenor with a mix of both semi-annual fixed (1.82% p.a.) and floating (circa 1.49% p.a.) coupons.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-skeleton-technologies-raises-114-million/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: EV Charging Company Erapid Raises $32 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-ev-charging-erapid-raises-32-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Erapid, an electric vehicle (EV) charging solutions provider, <a href="https://mercomcapital.com/ev-charging-firm-erapid-raises-32-million/" target="_blank" rel="noopener">raised</a> €30 million (~$32 million) from Aviva Investors, the global asset management business of Aviva. The phased investment by Aviva Investors, as part of its Climate Transition Real Assets strategy, will enable Erapid to expand its operational capabilities and network of chargers across Ireland. Erapid trades in Ireland as EasyGo and CarCharger EV and currently manages over 4,000 charging points in 1,500 locations across the country. In addition, and as part of the transaction, Rubicon Capital Advisors, an Irish-based merchant banking boutique and one of Erapid’s largest shareholders, will also increase its stake in the company to further assist with the growth of the business.
Cosmos Innovation, a solar AI tech solutions firm, has <a href="https://mercomcapital.com/solar-ai-startup-cosmos-innovation-raises-19-7-million/" target="_blank" rel="noopener">raised</a> $19.7 million in Series A funding led by Xora Innovation, an early-stage, deep-tech investment platform of Temasek, a global investment company headquartered in Singapore. The funding will help support the company’s AI-driven approach to developing perovskite silicon tandem solar cell technology. The round also saw investments from Endeavors, which led the seed round; Two Sigma Ventures; DeepMind CEO Demis Hassabis; MIT professor Tomaso Poggio; Richard Socher, natural language processing researcher, CEO of You.com and managing partner at AIX Ventures; and Western Technology Investments, a venture debt fund in Silicon Valley.
Oil and Natural Gas Corporation is set to acquire PTC Energy Limited (PEL), a wholly-owned subsidiary of PTC India, at a transaction <a href="https://www.mercomindia.com/ongc-acquire-ptc-renewable-subsidiary-%e2%82%b99-25-billion" target="_blank" rel="noopener">valued</a> at ₹9.25 billion (~$111.18 million). Through PEL, its subsidiary formed in 2008, PTC has commissioned seven wind power projects spread across Andhra Pradesh, Karnataka, and Madhya Pradesh with a generation capacity of 288.8 MW. This transaction is subject to the fulfillment of conditions precedent and other terms and conditions per the share purchase agreement to be executed between the parties.
Ampacimon, a grid monitoring solutions provider, <a href="https://mercomcapital.com/ampacimon-grid-monitoring-raises-series-c-funding/" target="_blank" rel="noopener">raised</a> €10 million (~$11 million) in Series C funding from Junction Growth Investors along with existing investors Korys, Noshaq, Creos, and Gesval. The company provides dynamic line rating, partial discharge monitoring, and fault detection solutions, which they claim can enhance power transmission capacity by an average of 30%. Simultaneously, they strengthen operational reliability by enabling early detection, diagnosis, and pinpointing of potential failures. The company harnesses data from advanced sensors deployed on grids to optimize its customer’s T&amp;D assets.
Fastned, a provider of EV Charging solutions, <a href="https://fastnedcharging.com/hq/fastned-raises-more-than-30-million-in-new-bonds-to-further-grow-its-network-across-europe/" target="_blank" rel="noopener">raised</a> €30.4 million (~$32.3 million) through the issue of new bonds. In addition, investors have extended €3.5 million (~$3.7 million) worth of investments from earlier issues, bringing the total issued amount in this round to €33.9 million (~$36 million). The bonds have a 6% coupon and a five-year maturity. This 13th round in the bond program brings the total outstanding investments raised with retail investors to more than €163 million (~$173 million).
Canadian Solar announced the successful <a href="https://investors.canadiansolar.com/news-releases/news-release-details/canadian-solar-successfully-issues-jpy-185-billion-green-samurai" target="_blank" rel="noopener">placement</a> of a JPY18.5 billion (~$120 million) green samurai private placement to help fund the company&#8217;s growth strategy. Goldman Sachs Japan was the lead arranger and sole book runner with the domestic bond investors. The private placement has a three-year tenor with a mix of both semi-annual fixed (1.82% p.a.) and floating (circa 1.49% p.a.) coupons.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-skeleton-technologies-raises-114-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://easygo.ie/" target="_blank" rel="noopener">Erapid</a>, a provider of electric vehicle (EV) charging solutions, has raised €30 million (~$32 million) from Aviva Investors, the global asset management business of Aviva. As part of its Climate Transition Real Assets strategy, the phased investment by Aviva Investors will enable Erapid to expand its operational capabilities and network of chargers across Ireland.
Erapid trades in Ireland as EasyGo and CarCharger EV and currently manages over 4,000 charging points in 1,500 locations across the country.
In addition, and as part of the transaction, Rubicon Capital Advisors, an Irish-based merchant banking boutique and one of Erapid’s largest shareholders, will also increase its stake in the company to further assist with the growth of the business.
“The EV sales market in Ireland is booming but needs the infrastructure to catch up. This investment, combined with our history of introducing the latest charging technology to Ireland, means we are well-positioned to create and scale a seamless EV charging network that supports a sustainable future,” said Chris Kelly, co-founder of Erapid.
“Ireland has some of the lowest public charger to EV ratios in the EU, giving potential for substantial growth in the platform as part of the transition from internal combustion engines towards electric powertrains. We view this as a great opportunity for the money we look after on behalf of our clients to make a material contribution to delivering on the UK and Ireland’s net zero ambitions whilst also meeting their long-term investment objectives,” said Adam Irwin, Fund Manager, Infrastructure Equity, at Aviva Investors.
Erapid plans to roll out over 3,000 fast DC chargers onto the national charging network by 2032. The company also plans to add over 20,000 commercial AC chargers into apartments, buildings, hotels, and other key locations.
According to Mercom’s recently <a href="https://cms.mercomindia.com/product/9m-q3-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">released</a> 9M And Q3 2023 Funding and M&amp;A Report for Storage &amp; Smart Grid, Corporate funding for Smart Grid companies in 9M 2023 was 4% higher YoY, with $2.9 billion in 48 deals compared to $2.8 billion in 35 deals in 9M 2022.
Recently, EVOS, a provider of EV Charging solutions, <a href="https://cms.mercomindia.com/ev-charging-solutions-provider-evos-secures-5-million/" target="_blank" rel="noopener">secured</a> $5 million from its existing investors. The investment will enable the company to bring to market new technologies for some EV charging use cases to address challenges experienced by EV fleet operators, EV homeowners/renters, strata companies, and others.

EV Charging Firm Erapid Raises $32 Million to Expand Charging Network in Ireland

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