Easelink raises €8.3 million for charging pad expansion
Easelink, the Austrian developer of the automated conductive charging solution Matrix Charging, has raised 8.3 million euros in its Series A funding round. The funding has been raised to further expand Easelink’s product team, deepen cooperation with the automotive and infrastructure industries and continue the implementation of a global charging standard.
Although the round was led by SET Ventures, from an electric mobility perspective the investments from the German energy giant EnBW and the Austrian energy supplier Wien Energie stand out.
The Easelink system consists of a charging pad installed on the ground. On the vehicle side, a connector is mounted on the underbody that lowers onto the charging pad, creating a physical conductive connection between the vehicle and the infrastructure. The pad itself can simply be placed on the parking space, but a more elegant option is to embed the charging pad flush with the surface of the parking space. With a wheel load capacity of up to 2.5 tonnes, the charging pad is designed to be particularly robust.
For the customer, there is no need to handle the charging cable as they simply have to park the vehicle in a pre-equipped parking space. The difference to inductive charging systems: Since there is a physical and conductive connection between the pad and the connector, it should be possible to achieve similar efficiencies as with cable charging. The start-up has the goal of making Matrix Charging cheaper so as to open up automated charging for the volume segment as well.
According to Easelink, the charging system is compatible “with most major e-car platforms”. It will be rolled out both as a retrofit version and as factory-installed equipment for new vehicles.
“Alongside our strong automotive partners, we are happy to welcome our new investors who offer profound experience in EV charging infrastructure and the energy sector,” said Hermann Stockinger, founder and CEO of Easelink. “This highlights Easelink’s ambition to set the global standard for automated charging,” he explained.
According to Marc Umber, Investment Director of EnBW New Ventures, ease of use with a few simple steps is essential for a customer-focused infrastructure. “Low touch operation is key in providing customer-oriented infrastructure. Matrix Charging is the fully automated charging system that will accelerate the shift to e-mobility,” Umber said. “Easelink’s technology is best positioned to play a key role in the future. We are excited to take part in this innovation.”
“Automated charging is essential for a future of mobility that is electrified, autonomous and always connected. We support Easelink’s vision to fully integrate electric vehicles into a renewable energy system,” affirms Anton Arts, Managing Partner of SET Ventures, a leading venture capitalist in Europe with an investment focus on supporting the global energy transition.
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