🔌 Funding for a Green Revolution
Cariqa, a Berlin-based startup, has raised €1 million ($1.1M) in a pre-seed funding round as of September 23, 2024. This round saw participation from investors across the US, Europe, and Asia, including Anthemis, Vento Ventures, and Techstars. Cariqa plans to use this funding to develop the world’s first consumer-facing EV charging marketplace, which will start rolling out across Europe. According to Issam Tidjani, CEO of Cariqa, “Our mission is to contribute to the transition to sustainable mobility by creating a fairer and more efficient charging market.”
🔍 Tackling Market Inefficiencies
The current EV charging market suffers from low utilization rates, with some charge point operators (CPOs) seeing only 3% usage. CPOs often sell energy at a discount to intermediaries, known as e-mobility service providers (EMSPs), which cuts into their profits. Cariqa addresses these inefficiencies by allowing CPOs to connect directly with EV drivers. This direct connection enables CPOs to offer transparent pricing, control prices better, and ultimately improve utilization rates.
🚗 An Expanding Network
Cariqa’s marketplace launched in September 2024, and it has already partnered with CPOs across Europe. With access to over 420,000 charging stations in 30 countries, Cariqa is positioning itself as a leader in the EV charging space. The marketplace offers features like optimal charge point discovery and EV routing, ensuring a seamless charging experience for drivers. These innovations help CPOs increase their profitability while offering fair prices to drivers.
🌍 Broad Support and Future Vision
Cariqa has garnered significant support from major players in the investment world. Tim Grace from Techstars noted, “Cariqa’s exceptional team, powerful mission, and bold vision are exactly what we seek.” Jeremy Brown of Anthemis echoed this sentiment, emphasizing the importance of price transparency and charging options for EV drivers. Cariqa’s approach has also been praised by Alireza Masrour from Plug and Play, who believes the startup is revolutionizing the EV ecosystem. As Cariqa continues to expand, it aims to lead the charge in creating a more sustainable and efficient EV market across Europe.
Is Cariqa the solution to Europe's EV charging issues?
