29 April 2020
Y Combinator Grad ampUp Raises Funding From Automakers

ampUp, an electric vehicle (EV) software company that enables drivers, hosts, and fleets to charge easier, announced it has raised funding from leading automakers. The investors in this round include SAIC Motor and Hyundai Motor. And Forest Ventures and several others participated in the round. The amount raised was undisclosed.

The company’s technology gives businesses and property owners the ability to manage multiple charge stations in one place. The ampUp platform also offers features like smart scheduling, dynamic access control, load management, payment processing, and real-time analytics.

With this round of funding, ampUp will accelerate the development of electric vehicle and charging technologies.

ampUp — which launched early in 2019 — has developed software to make charging stations flexible for drivers and easy to manage for businesses and property owners. The company participated in the Y Combinator startup accelerator program to help drive rapid business growth.

With dynamic features like vehicle telematics, scheduling, and access control, ampUp continues to build solutions for individual and fleet charging optimization. And ampUp has partnered with more than 20 charging hardware, software, and service providers to offer site hosts and fleet owners a control center for all electrification needs.

Key Quotes:

“We are extremely pleased to receive such strong backing from leading automakers SAIC and Hyundai during this unprecedented time. It is more important than ever to work on sustainable energy technologies and products, and we view electrifying transportation as a critical part of that.”

-Thomas Sun, CEO and Co-founder of ampUp

“We look forward to working with the ampUp team worldwide to best serve our customers and further advance the adoption of electric mobility.”

-Holly Wu, Investment Principal at SAIC Capital

“ampUp shows that the wide adoption of EV in both consumer and commercial applications depends on how to best leverage existing charging infrastructure. We are very excited to explore various projects with ampUp.”

-David He and Kyunghyun Kang of the Hyundai CRADLE investment team in Mountain View