Mob-Energy announces Series A funding round

Mob-Energy, a French recharging manufacturer specialising in “just-in-time recharging”.

At a time when mobility accounts for 30% of the global environmental problem, the electric vehicle offers the opportunity to reduce this carbon footprint by a factor of four. However, to adopt them, they need to be recharged, and recharging stations as we know them today are struggling to be deployed, not least because of the costs involved in connecting them to the grid.

Mob-Energy, founded in Lyon in 2018, designs and manufactures solutions aimed at recharging as many cars as possible with as little power as possible thanks to two technological pillars: energy storage – in reused batteries – and the use of optimisation algorithms aimed at prioritising the right car at the right time.

3 years ago, Mob-Energy launched Charles, the first autonomous recharging robot to be deployed in Europe, making it possible to recharge 10 to 20 cars a day, wherever they are parked, using a single mobile recharging ‘point’. In 2022, after several months of innovation and research, Eiko was born, a scalable recharging solution that is extremely easy to install indoors or outdoors, for use in the private car parks of companies and public authorities, public car parks, logistics hubs and mobility hubs such as airports.

10M to industrialise and meet growing demand as effectively as possible

In the summer of 2023, Mob-Energy will begin industrialising its recharging solutions. Designed and assembled in Lyon, France, Mob-Energy’s solutions have proved their worth in the field, working with a number of high-profile customers. The aim now is to be able to produce and deploy these solutions more quickly, in response to the growing number of orders.

3 years after its seed round, this round of financing, organised by the investment bank Wagram Corporate Finance, will support the company’s drive to step up production and commercial development, which will also involve doubling the number of employees by the end of 2024, both in operations-related functions and in engineering and development positions to continue innovation work.

By 2026, with the equivalent of more than 150MWh of low-carbon energy storage in second-life batteries deployed, Mob-Energy’s recharging solutions will enable tens of thousands of electric cars to be recharged every month across Europe, while reducing the power drawn from the grid by a factor of ten compared with traditional installations.

With the deployment of the first Eiko units, the move to new industrial premises at USIN Lyon Parilly and this fund-raising, 2023 marks a turning point for Mob-Energy.

This Series A is our passport to an exciting and challenging chapter: industrial scale-up. We made a choice in 2018 to include industry in our project, a choice that is now bearing fruit. The expertise we’ve built up over the past 5 years, particularly in reconditioning used car batteries, gives the project a great deal of strength and meaning.

We are delighted to welcome these new first-rate investors, who recognise the exceptional work of our employees.

Salim El Houat
Co-founder and Chairman, Mob-Energy.

A fund-raising round bringing together leading investors, led by Axeleo Capital

The pool of investors, grouped around Axeleo, a fund specialising in B2B industrial technology, includes Santander AM, the French Tech Seed fund (managed on behalf of the French government by Bpifrance as part of France 2030), UI investissement (Mob-Energy’s historic investor), the CMA CGM Energies Fund, InnoEnergy and Crédit Agricole (via Crédit Agricole Création and Centre Loire Expansion).

A unique positioning at the crossroads of energy, buildings and mobility

In a highly competitive recharging point market, Mob-Energy is adopting a unique positioning by proposing an approach that combines product and service, hardware and software, focused on making the best use of existing power in the car parks to be equipped. Mob-Energy is seeking to promote a new form of “lean” charging, also known as ” Lean Charging “, which involves delivering maximum energy with the least amount of resources (power, wiring, work, time, money, etc.).
As well as rethinking the way in which charge points are connected to the network, Mob-Energy solutions use algorithms to organise charging based on parking times and the energy requirements of each electromobilist.

A strategy with international ambitions

Recharging is a global problem, the complexity of which varies from one region of the world to another, and for some of these regions, Mob-Energy’s solutions are of even greater interest.
With initial projects in the pipeline for Belgium and Switzerland, other European and Asian players are showing strong interest in the Eiko cube and the Charles charging robot. This round of funding marks a milestone for the company, which plans to expand outside Europe in the coming years.