Venture Capital

Mobility House Completes $50 Million Series C

BELMONTThe Mobility House announced it has completed a $50 million Series C round of financing led by Mercuria and co-led by Ventura Capital and Green Gateway Fund. Other strategic investors of the company include Mercedes-Benz, Alliance Venture, Mitsui and SP Group.

The financing will be used to expand the company’s leading market position in the field of electric vehicle smart charging and vehicle-to-grid (V2G) integration across Europe, North America and Asia. The Mobility House’s ChargePilot technology, EV aggregation and flexibility trading platform will transform mobile and stationary batteries of electric vehicles into “buffer storage” or flexibility potential for the global energy transition.

The Mobility House continues to drive integration of the mobility and electricity markets by intelligently controlling charging and energy management for electric vehicles to stabilize the electric grid and temporarily store renewable energy. The company’s recently announced trading on the European Power Exchange EPEX SPOT SE further signals its leadership in shaping the energy and mobility future.

Jean François Steels, Vice President Energy Transition at Mercuria and lead investor, commented, “As we embark on our energy transition journey, we see this investment as a smart way to link electric mobility with renewable energy, two fast-growing sectors. This solution is increasing the flexibility of energy markets, which need to accommodate the growing new and intermittent renewable sources of power supply.”

Green Gateway Fund Founder Jochen Wermuth and co-lead investor said, “We see The Mobility House as the leading global software platform monetizing electric vehicle batteries, providing grid stability and storage services to a 100% renewable energy and transport system, with the potential to save over 5% of global CO2 emissions.”

Mo El Husseiny, founder of investment co-lead of Ventura Capital, noted: “The Mobility House is a visionary company constantly innovating the next infrastructure steps required to power the clean energy transition forward alongside their strategic partners and we are proud to continue to support this journey as one of them.”

“We are delighted about the trust that our existing investors have placed in us. In recent months, it has become increasingly clear: the market for smart charging and V2G is there and developing rapidly. It also has incredible economic and environmental potential for us to tap into,” said Robert Hienz, CEO of The Mobility House. “We have the technology ready to cater to and significantly shape this market, and are already well-equipped for the future continued development of our products.”