Driveco raises 250 million euros on the road to becoming a European leader in electric vehicle charging

Research and innovation
Published on 11/20/2023

Driveco, the French pioneer in electric vehicle charging, announced in early this spring that it had raised 250 million euros in funding. This is a record for the charging station sector in France, and one of the largest in the world.

Driveco's ambition is to become a major player in charging infrastructure for electric vehicles in France and Europe. The funds will enable the company to strengthen its presence in France by deploying its own charging stations, accelerate its internationalization strategy and consolidate its technological innovations. The transaction is marked by the arrival of APG, a renowned international investor, and by the renewed support of historical shareholders Mirova and Corsica Sole, who retain a majority stake. Founded in 2010, the company has over 8,000 electric charging points in operation or being deployed throughout France, and operates the 1st French network open to the public. By 2022, it plans to have tripled its sales to €25 million, a very strong growth performance driven by the commitment of more than 100 employees.

The key role of Energy Management Systems

Driveco is a long-standing partner of the CEA and ITE INES.2S, with whom it has carried out technological developments, notably in advanced Energy Management Systems (EMS), now embedded in its solutions for recharging electric vehicles coupled with solar power generation. EMS are software tools that enable the application of strategies to control and optimize energy systems. They are key in managing the new needs of electrical systems and networks.

Driveco's ambition This fund-raising supports

Driveco's long-term vision, with ambitious goals between now and 2030: - Strengthening its network to consolidate its position in France, - Accelerating international expansion to offer 60,000 charge points in 7 European countries. The aim is to enable the recharging of over 1.2 million vehicles a year, thereby avoiding the emission of 3 million tonnes of CO2. - Consolidating the technological innovation strategy aimed at offering the simplest customer experience at the station and on its mobile application.

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