Electra raises €15 million to revolutionise electric car charging
Nov 25, 2021
Electra, a new French company, is reinventing electric car charging with a network of ultra-fast hubs and an ultra-simple user experience. To put an end to the hassle of charging, the company has announced that it has raised €15 million from its investors, which is the largest SEED fundraising in France in 2021. Its objective is to accelerate the switch to electric mobility by tackling the main obstacle, which is charging, by implementing a charging network of 1,000 ultra-fast hubs by 2030. :format(webp))
Paris, June 28, 2021 — With a €15 million round of financing, Electra aims to address a key issue in the electric car market: the lack of fast charging stations in cities. This round of financing**, the largest SEED fundraising in 2021**, was carried out with Serena, Eurazeo and Frst Venture. It is also sponsored by several Business Angels from the energy, mobility and real estate sectors, such as Grégory Frapet, CEO of Primonial REIM, Thibault Chassagne and Karim Kaddoura, founders and directors of Virtuo, Bertrand Altmayer, CEO of Cityscoot, and Demba Diallo, an expert in the energy sector. Founded by three enthusiastic entrepreneurs with backgrounds in Tech and Infrastructure, and supported by 15 employees in its Paris office, Electra aims to deploy a first batch of 50 ultra-fast charging hubs within a year, with first installations expected in the last quarter of 2021, and a long-term goal of 1,000 hubs by 2030. This first round of financing will enable the young company to meet its deployment objectives in the Greater Paris area and in the conurbations of Lyon and Lille, to invest in research and development to revise the charging experience in its entirety, and to support its growth by increasing its workforce threefold by the end of the year.
Electric mobility is accelerating, but charging solutions are inadequate
According to the 2020 study on the quality of publicly accessible electric charging services (French Association for Roaming of Electricity Charging Service, AFIREV), the French grid is in a poor state. And yet, the figures for the electric car market are growing exponentially (1).
The health crisis has accelerated the awareness for sustainable and accessible solutions, as Aurélien de Meaux, CEO and co-founder of Electra, explains: “During the first lockdown in 2020, we realised that we were living in less noisy, less polluted cities - alas this was a short-lived joy... We like the idea that in 20 years, thanks to electric mobility, our cities will be able to breathe and we will regain a peaceful quality of life here. It is only a matter of time before all means of transportation, from two-wheelers to car, become electric. In fact, even financial concerns are bound to disappear, as electric car prices are expected to drop by 50% in the next 5 to 6 years (2). Clean mobility will no longer be a luxury.”
To support this revolution, Electra was created with the objective of solving a major problem, which is a source of anxiety for many new users: charging electric vehicles. Today, the lack of charging stations throughout the country, their malfunctions (3) and their very low power levels result in 68% of electric car users being dissatisfied with the charging stations open to the public (4).
Convinced that the sustainable development of electric cars will not be successful without a high quality charging infrastructure open to the public, Electra views the deployment of a high performance solution in urban areas as a way to meet users' needs. The user experience must be simple, intuitive, but above all adapted to the development of the market and to vehicles which support higher and higher charging speeds. Charging your electric car in 2030 will be almost as fast as filling up with petrol today.
The local service that meets the challenges of future cities
At Electra, we believe that cities should invest in electric mobility now. It is in their best interest to host more powerful charging stations in order to pre-empt the demand of their users. Some city councils are already pioneers in this area, such as the city council of Saint-Ouen and its mayor Karim Bouamrane.
The ultra-fast charging stations, 100% financed by Electra, are being set up in cities and conurbations. The deployment sites are shopping centres and supermarkets, hotels or car park operators, with a target of more than 50 sites implemented this summer. These stakeholders are themselves encouraged by the LOM law (French Mobility Orientation Law), the rents they earn or their CSR policy. They are also attracted by the possibility of hosting a differentiating asset that will generate business flows, as users can eat while charging, for example. This zero investment model for lessors hosting Electra charging stations has already won over several institutions.
Electra's logic is to think in terms of the number of electric vehicles being charged, and therefore in terms of power, instead of the number of charging stations. The three co-founding entrepreneurs want to boost electric mobility by removing the hurdle of fast charging and creating a local service. Aurélien de Meaux said: “Our network of hubs will enable users to be always less than 10 minutes away from a hub and to be sure of charging quickly thanks to on-demand booking”.
Xavier Lorphelin, Managing Partner at Serena, added: “Reducing the carbon footprint of the automotive market is one of the biggest challenges of the 21st century. In 2020, the French electric vehicle market increased by 180% while the market for all types of energy dropped by 25%. This growth seems unprecedented, yet it is largely held back by the lack of infrastructure. Electra's ambition is to erase all the barriers to the adoption of electric vehicles by deploying the most efficient network of ultra-fast charging hubs in France. We have been working with its founder Aurélien since 2014, when we invested in his previous company, and we are convinced of his and his team's potential to build a European leader.”
Press contacts
Euros / Agency
Julie Dalsace +33 6 78 70 96 05
Marie-Charlotte Fauquette +33 6 30 06 95 60
Serena
Rémi Fresnel remi.fresnel@archetype.co +33 6 61 62 17 38
About Electra
Electra reinvents electric car charging with a network of ultra-fast hubs and an ultra-simple user experience.
As the shift to electric cars ramps up, a majority (68%) of users are not satisfied with public charging stations.
To make charging as easy as filling up with petrol, and to save car drivers time and comfort, Electra, a new French company, is deploying a connected, reliable and ultra-fast charging network (15 to 30 minutes at most) in all major French cities.
Offering a simple and digitalised charging experience will enable a faster switch to electric vehicles, and the company's objective is to deploy 1,000 hubs by 2030.
Electra was founded by three experienced entrepreneurs and electric mobility enthusiasts: Aurélien de Meaux (CEO), Augustin Derville (CDO) and Julien Belliato (COO). 15 employees are working with them in their first Parisian office.
About Serena
Serena funds and supports exceptional high-growth start-ups by providing them with capital and operational expertise in Paris and New York.
Serena's portfolio companies can rely on its Operating Partners model and benefit from the support of Europe's largest community of C-levels via the Serena Squad platform, which is open exclusively to past and present companies.
Serena was founded in 2008 by entrepreneurs for entrepreneurs, based on the deep conviction that a venture capital fund should be at the service of its portfolio companies.
(1) The market share of electric vehicles in France was 2% in 2018, versus 14% in the 1st quarter of 2021 - AVERE.
(2) According to a report commissioned by the Transport and Environment NGO to Bloomberg New Energy Finance.
(3) The percentage of charging stations that do not work is estimated to be between one third and 50%.
(4) According to AVERE, December 2020.
Paris, June 28, 2021 — With a €15 million round of financing, Electra aims to address a key issue in the electric car market: the lack of fast charging stations in cities. This round of financing**, the largest SEED fundraising in 2021**, was carried out with Serena, Eurazeo and Frst Venture. It is also sponsored by several Business Angels from the energy, mobility and real estate sectors, such as Grégory Frapet, CEO of Primonial REIM, Thibault Chassagne and Karim Kaddoura, founders and directors of Virtuo, Bertrand Altmayer, CEO of Cityscoot, and Demba Diallo, an expert in the energy sector. Founded by three enthusiastic entrepreneurs with backgrounds in Tech and Infrastructure, and supported by 15 employees in its Paris office, Electra aims to deploy a first batch of 50 ultra-fast charging hubs within a year, with first installations expected in the last quarter of 2021, and a long-term goal of 1,000 hubs by 2030. This first round of financing will enable the young company to meet its deployment objectives in the Greater Paris area and in the conurbations of Lyon and Lille, to invest in research and development to revise the charging experience in its entirety, and to support its growth by increasing its workforce threefold by the end of the year.
Electric mobility is accelerating, but charging solutions are inadequate
According to the 2020 study on the quality of publicly accessible electric charging services (French Association for Roaming of Electricity Charging Service, AFIREV), the French grid is in a poor state. And yet, the figures for the electric car market are growing exponentially (1).
The health crisis has accelerated the awareness for sustainable and accessible solutions, as Aurélien de Meaux, CEO and co-founder of Electra, explains: “During the first lockdown in 2020, we realised that we were living in less noisy, less polluted cities - alas this was a short-lived joy... We like the idea that in 20 years, thanks to electric mobility, our cities will be able to breathe and we will regain a peaceful quality of life here. It is only a matter of time before all means of transportation, from two-wheelers to car, become electric. In fact, even financial concerns are bound to disappear, as electric car prices are expected to drop by 50% in the next 5 to 6 years (2). Clean mobility will no longer be a luxury.”
To support this revolution, Electra was created with the objective of solving a major problem, which is a source of anxiety for many new users: charging electric vehicles. Today, the lack of charging stations throughout the country, their malfunctions (3) and their very low power levels result in 68% of electric car users being dissatisfied with the charging stations open to the public (4).
Convinced that the sustainable development of electric cars will not be successful without a high quality charging infrastructure open to the public, Electra views the deployment of a high performance solution in urban areas as a way to meet users' needs. The user experience must be simple, intuitive, but above all adapted to the development of the market and to vehicles which support higher and higher charging speeds. Charging your electric car in 2030 will be almost as fast as filling up with petrol today.
The local service that meets the challenges of future cities
At Electra, we believe that cities should invest in electric mobility now. It is in their best interest to host more powerful charging stations in order to pre-empt the demand of their users. Some city councils are already pioneers in this area, such as the city council of Saint-Ouen and its mayor Karim Bouamrane.
The ultra-fast charging stations, 100% financed by Electra, are being set up in cities and conurbations. The deployment sites are shopping centres and supermarkets, hotels or car park operators, with a target of more than 50 sites implemented this summer. These stakeholders are themselves encouraged by the LOM law (French Mobility Orientation Law), the rents they earn or their CSR policy. They are also attracted by the possibility of hosting a differentiating asset that will generate business flows, as users can eat while charging, for example. This zero investment model for lessors hosting Electra charging stations has already won over several institutions.
Electra's logic is to think in terms of the number of electric vehicles being charged, and therefore in terms of power, instead of the number of charging stations. The three co-founding entrepreneurs want to boost electric mobility by removing the hurdle of fast charging and creating a local service. Aurélien de Meaux said: “Our network of hubs will enable users to be always less than 10 minutes away from a hub and to be sure of charging quickly thanks to on-demand booking”.
Xavier Lorphelin, Managing Partner at Serena, added: “Reducing the carbon footprint of the automotive market is one of the biggest challenges of the 21st century. In 2020, the French electric vehicle market increased by 180% while the market for all types of energy dropped by 25%. This growth seems unprecedented, yet it is largely held back by the lack of infrastructure. Electra's ambition is to erase all the barriers to the adoption of electric vehicles by deploying the most efficient network of ultra-fast charging hubs in France. We have been working with its founder Aurélien since 2014, when we invested in his previous company, and we are convinced of his and his team's potential to build a European leader.”
Press contacts
Euros / Agency
Julie Dalsace +33 6 78 70 96 05
Marie-Charlotte Fauquette +33 6 30 06 95 60
Serena
Rémi Fresnel remi.fresnel@archetype.co +33 6 61 62 17 38
About Electra
Electra reinvents electric car charging with a network of ultra-fast hubs and an ultra-simple user experience.
As the shift to electric cars ramps up, a majority (68%) of users are not satisfied with public charging stations.
To make charging as easy as filling up with petrol, and to save car drivers time and comfort, Electra, a new French company, is deploying a connected, reliable and ultra-fast charging network (15 to 30 minutes at most) in all major French cities.
Offering a simple and digitalised charging experience will enable a faster switch to electric vehicles, and the company's objective is to deploy 1,000 hubs by 2030.
Electra was founded by three experienced entrepreneurs and electric mobility enthusiasts: Aurélien de Meaux (CEO), Augustin Derville (CDO) and Julien Belliato (COO). 15 employees are working with them in their first Parisian office.
About Serena
Serena funds and supports exceptional high-growth start-ups by providing them with capital and operational expertise in Paris and New York.
Serena's portfolio companies can rely on its Operating Partners model and benefit from the support of Europe's largest community of C-levels via the Serena Squad platform, which is open exclusively to past and present companies.
Serena was founded in 2008 by entrepreneurs for entrepreneurs, based on the deep conviction that a venture capital fund should be at the service of its portfolio companies.
(1) The market share of electric vehicles in France was 2% in 2018, versus 14% in the 1st quarter of 2021 - AVERE.
(2) According to a report commissioned by the Transport and Environment NGO to Bloomberg New Energy Finance.
(3) The percentage of charging stations that do not work is estimated to be between one third and 50%.
(4) According to AVERE, December 2020.
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