Tap Electric Receives €1 Million Investment

Tap Electric, an Amsterdam-based startup focused on the driver experience for electric vehicle owners and charger operators, has received investment. LUMO Labs announced that it has raised 1 million euros in a seed funding round led by Shamrock Ventures and Fair Capital Partners Impact Investing. At the same time, the funding brings together three experts who played an important role in the early days of the Dutch electric vehicle (EV) charging sector: Tap Electric co-founders and former GreenFlux executives Nico Spoelstra and Dan Pezim. Alef Arendsen, co-founder of Shamrock Ventures and co-founder of TheNewMotion. Tap Electric stated that with this new financing, it plans to expand its team and bring its innovative products to market faster.

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Tap Electric in business model

Tap Electric has launched two important products to date. An app for drivers, recognised for its clear pricing information, and a comprehensive platform for charger owners and installers to manage payments and hardware. One of the distinguishing aspects of Tap Electric's business model is that it is the only platform in the market that avoids imposing fees on charger owners and installers, an innovation driven by a high level of automation. What is the company's core mission? It revolves around facilitating accessible charging solutions that ease the transition to electric vehicles, integrate mobility with renewable energy, and directly contribute to Sustainable Development Goals (SDGs) 7 (Affordable and Clean Energy) and 11 (Sustainable Cities and Communities).