Helsinki-based eMobility API platform eMabler raises €630,000 in funding
Helsinki-based eMobility API platform eMabler has announced that it has raised €630,000 in funding led by Sofokus Ventures, Nidoco AB, several angel investors, and funding from Business Finland. The company will use the funding to continue developing and commercializing its software, and further drive growth in the Nordics and the rest of Europe.
eMabler has developed a SaaS API-first platform that makes it fast and simple for energy companies, EV operators, infrastructure service providers, and charge-point manufacturers to integrate electric vehicle (EV) charging infrastructure into their other business systems such as mobile applications, existing customer base platforms, and payment solutions. For the drivers of EVs, a smoother user experience is created via the ability to seamlessly use EV charging stations from different operators with just one mobile app and get billed in just one place.
"Electric vehicle charging needs to be as convenient and reliable for the consumer as filling up the tank with fuel. Our primary goal is to help our customers improve the user experience of charging, accelerating the electrification of transportation," says Juha Stenberg, CEO, and Co-Founder at eMabler.
Electrification of transportation impacts positively on the climate as fossil fuel consumption and CO2 emissions decrease. Founded in 2019, eMabler's notable customers include the Finnish infrastructure service company Destia and the Norwegian EV charging company Movel.
"Movel provides smart and cost-efficient electric vehicle charging services in Norway for housing communities and businesses. Our business model is transparent and customer-friendly. We are excited about the cooperation with eMabler as it allows us to scale our business and introduce new value-adding services to our customers and operate multi-vendor hardware in the fast-growing electric vehicle charging market," says Per Thorbjørn Magnor, CEO and Co-Founder at Movel.
Currently, Norway is the global leader in the number of electric vehicles on the roads. According to the Norwegian Road Federation (OFV), more than 70 percent of the new cars sold in the country in 2020 were battery electric vehicles. In March 2021, the share was 84.9 percent.
Complex charging environments pose challenges for EV drivers. For example, eMabler's native Finland has more than 10 different EV charging applications and new ones are constantly released. With eMabler, it is possible to pay for EV charging with existing payment applications or through other services. All charging applications don't require registration. Convenient payment benefits both eMobility operators as well as EV drivers.
"The electrification of transport requires an actor that can unify the entire ecosystem and create new possibilities through API economy models. We have many values and ideas in common with the eMabler team. We want to help advance the company's story through both the investment and especially our expertise on developing digital business," says Turo Numminen, Partner at Sofokus Ventures.
The possibility to charge electric vehicles at home is highly important for increasing the number of electric vehicles. Energy management will be a key part of the service. Energy companies are naturally positioned to meet the demand, but new competitors are also entering the market.
eMabler also utilizes AI to interpret operator data, helping eMabler's customers to scale their business profitably, provide better service to end-users, improve their competitiveness in the eMobility sector, and build new revenue streams by combining charging services with other services. "Destia offers EV charging services for companies and professional transport. With eMabler, we can enhance the maintenance of the charging equipment we operate, improving their utilization rate. Our customers receive high-quality service through the life cycle of the charging network," says Marcus Suvanto, Head of EV Charging Solutions at Destia.