AMPLY Power, a company that specializes in charging solutions for fleets, has secured $13.2 million in Series A funding from investors, including Soros Fund Management and Siemens. They are joined by existing seed round investors, including Congruent Ventures, PeopleFund and Obvious Ventures.
AMPLY’s proprietary software technology optimizes and aggregates electric vehicle charging to minimize energy costs and maximize vehicle uptime. As a recent customer success story, Tri Delta Transit found that up to 40% of electric charging costs could be saved using AMPLY’s charging solution.
“With reduction in transportation emissions brought by the coronavirus pandemic, cities around the world have a window into the air quality we deserve once society transitions to electric mobility,” says Vic Shao, CEO of AMPLY.
“At AMPLY, it is our mission to take the technical guesswork out of electrification infrastructure so fleets can scale their zero-emission deployments with confidence while delivering cleaner air for their communities,” he adds.
AMPLY services include charging hardware deployment, management of depot upgrades and utility interconnections, real-time software-controlled charge optimization, debt financing of capital expenditures, and resiliency planning. The company assumes the financial responsibility of the utility account for charging and bills the fleet customer for ongoing vehicle miles. AMPLY also performs onsite operations and maintenance services and invests in technology upgrades as the needs of the fleet evolve.
Siemens has defined electric mobility as one of its top strategic growth fields, deploying over 100,000 charging stations in 35 countries. The company continues its PlugtoGrid focus on customers in the car, bus fleet and truck market across North America.
Along with this funding, the company plans to expand its team and customer deployments. Currently, AMPLY manages charging operations for a variety of customers, including East Contra Costa County’s Tri Delta Transit, an electric school bus fleet demonstration in New York City with Logan Bus.