Total amount raised
$315.7 Millions
Latest funding date
Location
Ample is revolutionizing the energy solutions market for electric vehicles with its innovative modular battery swapping technology. The company offers a cost-efficient and rapid deployment system that aims to make energy delivery cheaper and more sustainable.
Keep reading to explore the intricacies of Ample's fundraising journey and the investors backing this innovative platform.
What Is Ample?
Ample is a company dedicated to revolutionizing the way energy is delivered to electric vehicles through modular battery swapping technology. Their solution aims to provide a full charge in under 5 minutes, at a cost cheaper than gasoline, and is compatible with any electric vehicle.
Ample's stations are designed to be rapidly deployable and integrate renewable energy sources, contributing to a sustainable and zero-carbon future. The company emphasizes automation and future-proof technology to ensure continuous improvement and adaptability.
How Much Funding Has Ample Raised?
- Series A
- Amount Raised: $31M
- Date: August 2018
- Lead Investors: Shell Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and deploy their modular battery swapping technology.
- Series B
- Amount Raised: $34.7M
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their technology and infrastructure.
- Series C
- Amount Raised: $160M
- Date: August 2021
- Lead Investors: Moore Strategic Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology.
- Private Equity Round
- Amount Raised: $50M
- Date: November 2021
- Lead Investors: Blackstone Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives.
- Grant
- Amount Raised: $15M
- Date: February 2023
- Lead Investors: Not applicable
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund research and development.
- Corporate Round
- Amount Raised: $25M
- Date: November 2024
- Lead Investors: Mitsubishi Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand battery-swapping technology and leverage Mitsubishi's expertise.
Total Amount Raised: $315.7M. Current Valuation: Not publicly disclosed.
Key Investors
- Mitsubishi Corporation
- Details: Mitsubishi Corporation is a global integrated business enterprise that develops and operates businesses across virtually every industry. They have a significant presence in sectors such as mobility, renewable energy, and energy storage.
- Investment Focus Areas: Mobility, Renewable energy, Energy storage, Battery reuse and recycling
- Notable Investments: Ample, Mitsubishi Fuso Truck and Bus Corporation, Stellantis
- Blackstone Group
- Details: Blackstone Group is one of the world's leading investment firms, specializing in private equity, real estate, and credit. They manage assets for public and corporate pension funds, academic, cultural, and charitable organizations.
- Investment Focus Areas: Private equity, Real estate, Credit
- Notable Investments: Hilton Worldwide, Refinitiv, Bumble
- Moore Strategic Ventures
- Details: Moore Strategic Ventures is the private investment arm of Louis M. Bacon, focusing on long-term investments in various sectors. They aim to support innovative companies with growth potential.
- Investment Focus Areas: Technology, Energy, Financial services
- Notable Investments: Ample, SpaceX, Robinhood
- Shell Ventures
- Details: Shell Ventures is the corporate venture capital arm of Royal Dutch Shell, investing in innovative companies that are transforming the energy sector. They focus on technologies that can help meet the world's growing energy needs in a sustainable way.
- Investment Focus Areas: Energy, Clean technology, Mobility
- Notable Investments: Ample, Sense, Sonnen
What's Next for Ample?
Ample's future looks promising as it leverages a $25 million investment from Mitsubishi Corporation to expand its battery-swapping infrastructure. This collaboration opens doors to new markets, particularly in Japan, where Ample has already begun operations. The partnership with Mitsubishi, along with existing alliances with major OEMs like Stellantis, positions Ample to scale its technology globally.
As the demand for sustainable energy solutions grows, Ample is well-placed to attract further investments. The company's focus on integrating its technology with a wide range of EV models enhances its appeal to potential investors. However, challenges such as ensuring scalability and navigating regulatory landscapes remain. Overcoming these hurdles will be crucial for Ample's continued success and expansion.
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