ampUp receives investment from leading automakers

ampUp announced that the company has raised an undisclosed amount to accelerate development of electric vehicle and charging technologies.

Investors include leading automakers SAIC Motor and Hyundai Motor Company, while Forest Ventures and others participated in the round.

“We are extremely pleased to receive such strong backing from leading automakers SAIC and Hyundai during this unprecedented time. It is more important than ever to work on sustainable energy technologies and products, and we view electrifying transportation as a critical part of that,” said Thomas Sun, CEO and Co-Founder of ampUp.

Since launching in early 2019, ampUp has developed software to make charging stations flexible for drivers and easy to manage for businesses and property owners. Graduates of the YCombinator incubator, ampUp also offers unique features such as smart scheduling, dynamic access control, load management, payment processing, and real-time analytics.

“We look forward to working with the ampUp team worldwide to best serve our customers and further advance the adoption of electric mobility,” said Holly Wu, Investment Principal at SAIC Capital.

Using dynamic features such as vehicle telematics, scheduling, and access control, ampUp continues to build solutions for individual and fleet charging optimisation. The company has partnered with more than 20 charging hardware, software and service providers to offer site hosts and fleet owners a control centre for all electrification needs.

“ampUp shows that the wide adoption of EV in both consumer and commercial applications depends on how to best leverage existing charging infrastructure. We are very excited to explore various projects with ampUp,” said David He and Kyunghyun Kang of the Hyundai CRADLE investment team in Mountain View.