Charge Amps raises an additional SEK 19.4 million in funding

This news was covered on January 22, 2025 in the daily PRO newsletter.

Charge Amps, a Stockholm-based developer and manufacturer of smart EV charging solutions founded in 2012, has raised SEK 19.4 million in funding from existing investors, according to data registered with the Swedish Companies Registration Office (sourced via Eivora).

This capital injection comes during a challenging period for the company, which was supposed to be acquired by a Chinese industry peer in 2023, but then saw the deal collapse.

This latest round was raised at a 91% decreased valuation compared to spring 2023, after Charge Amps raised SEK 100 million led by existing investors OK Ekonomisk förening and Skellefteå Kraft.

For 2023, Charge Amps reported net revenue of SEK 241.4 million, down 26% year-over-year, and a pre-tax loss of SEK 127 million, vs SEK 118 million in 2022.