Rocsys brings in $36M for its autonomous chargers

Rocsys, a supplier of autonomous charging techniques for electrical transportation, has introduced in $36 million in Sequence A financing. The corporate combines gentle robotics, AI-based pc imaginative and prescient, and data-driven providers to adapt present chargers into an autonomous system that may plug out and in with out handbook intervention. 

SEB Greentech Enterprise Capital led the spherical, which additionally included participation from Graduate Entrepreneur, the European Funding Financial institution, and returning investor Ahead.One. The funding is made up of roughly equal elements dept and fairness financing. 

“At SEB, we spend money on corporations with confirmed sustainability affect, real-world and scalable use instances, and robust progress,” Mikko Huumo, Funding Supervisor at SEB, mentioned. “Rocsys makes electrification sensible for automobiles starting from private autonomous automobiles to constantly working heavy-duty tools, a significant supply of emissions. We’re thrilled to guide the corporate’s funding spherical and speed up the sustainable transportation revolution.”

Rocsys plans to make use of the funding to assist analysis and improvement into extra options for its system, together with issues like clever parking steerage, expanded software program integrations for car navigation fleet administration techniques, and extra distant diagnostics and teleoperations assist. 

The corporate can also be fascinated with increasing its footprint in North America to additional assist utility engineering and customer support within the area whereas additionally increasing native provide chain and manufacturing actions. Its North American operations are at the moment primarily based in Portland, OR.

“There’s an excessive amount of friction within the EV charging course of right this moment, creating unnecessary obstacles to sustainable transportation,” Rocsys Co-founder and CEO Crijn Bouman mentioned. “That’s why we created a technology-agnostic resolution that converts any charger into a totally automated expertise, maximizing the return on funding and sustainability affect of already-installed charging infrastructure. With this Sequence A funding, we’re bringing this breakthrough resolution to extra clients and industries worldwide.”

Rocsys estimates that its autonomous charging system will drive as much as a 20% improve in throughput for fast-charging stations and is projected to cut back CO2 emissions by 400 million tons by 2035. Its client and business companions embrace Hyster, Taylor Machine Works, and SSA Marine. 

The corporate can also be the main robotics firm in ROCIN-ECO, a charging consortium that features AUDI, Porsche, BMW, Ford, and Mercedes-Benz. The consortium’s aim is to develop an interoperable and standardized robotic fast-charging infrastructure alongside high-volume European transportation routes. 

As a part of the funding spherical, 4 new members are becoming a member of Rocsys’ Board of Advisors, together with Mikko Huumo of SEB, Frederik Gerner, and Jan Willem Friso of Ahead.One, and new chairperson Dr. Gregor Matthies