Amber Electric acquires EV charging software firm Charge HQ
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The news: Electricity retailer Amber has acquired electric vehicle charging software company Charge HQ for an undisclosed amount in a move to expand its smart charging capabilities and strengthen its position in Australia's renewable energy sector.
The numbers: Amber has previously raised $32.5 million across multiple funding rounds, including a $2.5 million seed round led by Square Peg, a $10 million Series A co-led by Main Sequence and Square Peg, and a $20 million Series B investment from the Commonwealth Bank of Australia.
The context: Founded in 2017, Amber provides wholesale electricity pricing to customers and has been expanding its renewable energy offerings.
Charge HQ's software allows electric vehicle owners to optimise charging times based on grid conditions, electricity prices and renewable energy availability.
What they said: "Charge HQ's technology is a fantastic addition to Amber's offering, giving EV owners the ability to charge their vehicles in a way that maximises renewable energy use while also cutting costs," said Amber co-CEO Chris Thompson.
Charge HQ co-founder Jay Banyer said: "We believe that Amber will be a great home for Charge HQ due to the strong alignment in company mission and focus on building great products for customers".
The sources: Amber LinkedIn, Amber Blog
