TL;DR:
- Rocsys, a provider of autonomous charging systems, has raised $36 million in Series A financing.
- The company combines soft robotics, AI-based computer vision, and data-driven services to create an autonomous system for electric vehicle chargers.
- SEB Greentech Venture Capital led the funding round, with participation from Graduate Entrepreneur, the European Investment Bank, and Forward.One.
- The investment will support research and development for additional features, expansion in North America, and the advancement of sustainable transportation.
- Rocsys estimates that its autonomous charging system will increase throughput at fast-charging stations by up to 20% and reduce CO2 emissions by 400 million tons by 2035.
- The company is part of the ROCIN-ECO charging consortium, which aims to develop a standardized robotic fast-charging infrastructure in Europe.
- Four new members have joined Rocsys’ Board of Advisors as part of the funding round.
Main AI News:
Rocsys, a trailblazer in the field of autonomous charging systems for electric transportation, has successfully raised $36 million in Series A financing. This significant investment will propel the company’s mission to revolutionize the charging infrastructure industry by seamlessly integrating soft robotics, AI-driven computer vision, and data-centric services. The result is an innovative autonomous system that eliminates the need for manual intervention during the charging process.
Leading the funding round is SEB Greentech Venture Capital, a renowned firm known for its commitment to investing in sustainable enterprises with scalable use cases. Other notable participants in the investment include Graduate Entrepreneur, the European Investment Bank, and returning investor Forward.One. The financing package consists of a well-balanced mix of debt and equity, reflecting the confidence and support of these esteemed institutions.
Commenting on the investment, Mikko Huumo, Investment Manager at SEB, stated, “At SEB, we prioritize companies that have a proven sustainability impact, offer real-world and scalable solutions, and exhibit robust growth potential. Rocsys enables the practical electrification of various vehicles, from personal autonomous cars to heavy-duty equipment, which significantly contribute to emissions reduction. We are thrilled to lead the funding round and expedite the sustainable transportation revolution.”
Rocsys intends to utilize the raised capital to further enhance its cutting-edge autonomous charging system. The company’s focus will be on research and development to introduce new features such as intelligent parking guidance, expanded software integrations for vehicle navigation fleet management systems, and enhanced remote diagnostics and teleoperations support. By constantly evolving and advancing its technology, Rocsys aims to provide an unparalleled automated experience for EV charging.
Moreover, Rocsys has set its sights on expanding its presence in North America. This strategic move entails bolstering its application engineering and customer service capabilities in the region, as well as establishing a robust local supply chain and manufacturing operations. Currently based in Portland, OR, the company is keen on leveraging its expertise to address the friction points in the EV charging process and drive sustainable transportation forward.
Crijn Bouman, Co-founder, and CEO of Rocsys, emphasized the importance of their breakthrough solution, stating, “The existing EV charging process is burdened with unnecessary obstacles that hinder the progress of sustainable transportation. That’s precisely why we have developed a technology-agnostic solution that seamlessly transforms any charger into a fully automated experience, optimizing the return on investment and sustainability impact of pre-installed charging infrastructure. With the backing of this Series A funding, we are excited to bring this groundbreaking solution to an even wider range of customers and industries globally.“
Rocsys projects that its autonomous charging system will significantly enhance throughput at fast-charging stations, driving up to a remarkable 20% increase. Furthermore, it is estimated to result in a reduction of approximately 400 million tons of CO2 emissions by 2035. Notably, the company has forged valuable partnerships with industry leaders such as Hyster, Taylor Machine Works, and SSA Marine, reinforcing its commitment to sustainable practices and electric mobility.
Furthermore, Rocsys is at the forefront of ROCIN-ECO, a pioneering charging consortium that includes renowned automotive manufacturers like AUDI, Porsche, BMW, Ford, and Mercedes-Benz. This esteemed collaboration aims to develop an interoperable and standardized robotic fast-charging infrastructure, facilitating high-volume European transportation routes.
Conclusion:
Rocsys’ successful Series A funding round of $36 million highlights the growing demand for autonomous charging solutions in the electric transportation industry. The integration of soft robotics, AI-based computer vision, and data-driven services allows Rocsys to transform existing chargers into efficient and automated systems. With the support of prominent investors, Rocsys plans to further develop its technology, expand its presence in North America, and introduce new features to enhance the charging experience. The projected increase in throughput at fast-charging stations and substantial reduction in CO2 emissions demonstrate the potential impact of Rocsys’ solutions on sustainable transportation. Additionally, the company’s involvement in the ROCIN-ECO charging consortium showcases its commitment to collaboration and standardization within the European market. Overall, Rocsys’ funding success signifies the market’s recognition of the importance of autonomous charging infrastructure for the future of electric mobility.
