French charging startup Electra has raised €15 million from venture capital and business angel investors. The company aims to roll out 1,000 ultra-fast DC charging stations by 2030, beginning with a batch of 50 to be deployed within a year. This first round of financing will enable the company to meet its deployment objectives in the Ile-de-France region and in the cities of Lyon and Lille, to invest in R&D, and to triple its 15-employee workforce.
According to a 2020 report on the quality of public charging services, the French network is in a poor state—68% of electro-mobilists reported being dissatisfied with the public charging experience (sounds familiar, n’est pas?)
“We like the idea that in 20 years’ time, thanks to electric mobility, our cities will breathe, and we will find a peaceful quality of life,” said Electra CEO and co-founder Aurélien de Meaux.. “It’s only a matter of time before everything goes electric, from two wheels to the car.”
The charging stations, 100% financed by Electra, are being set up at urban sites such as shopping centers, supermarkets, hotels and parking lots. The company offers a zero-investment model for charging hosts, who benefit from France’s LOM law (Loi d’Orientation des Mobilités) and by attracting customers.
“Our network of stations will allow users to be within 10 minutes of a station at all times and on-demand reservations will allow assurance of availability of a charging port,” says Aurélien de Meaux.
“Electra’s ambition is to erase all obstacles in the adoption of electric cars by deploying the most efficient network of ultra-fast charging stations in France,” said Xavier Lorphelin, Managing Partner at Serena. “We have been working with its founder Aurélien since 2014 when we invested in his previous company and are convinced of his and his team’s ability to become a European leader.”