We’re delighted to be announcing that we have raised a Series C funding round of $160 Million led by Moore Strategic Ventures with participation from existing Ample investors ENEOS and Shell Ventures. We’re also incredibly excited about the strategic investments from Momentum Venture Capital (formerly SMRT Ventures), Singapore’s public transportation operator, and PTT, Thailand’s state-owned gas and oil company and largest corporation, as well as Rose Park Advisors, co-founded by the late Clayton Christensen, through its Disruptive Innovation Fund. This brings our total funding raised to $230M and the new funding round will be used to scale our modular battery swapping technology across the US and to more corners of the globe.
When we started Ample seven years ago to create a faster, lower-cost modular battery swap network, our mission was to create an infrastructure solution that can scale fast, support any electric vehicle and any driver profile, while presenting a clear path to transitioning to renewable energy sources. We wanted to make it as easy as possible for current gas drivers to move to electric vehicles with no compromises. So far, we’ve seen great excitement and demand for our technology from both fleet managers and car manufacturers.
This round will allow us to accelerate the next phase of deployment within the US and internationally and will help us deliver EV technology around the globe empowering our car manufacturer and fleet partners with new battery and energy delivery technologies. Since our launch out of stealth in March of this year, in addition to our ongoing work with Uber, we have announced a collaboration with energy company ENEOS to bring our technology to Japan, as well as a partnership with NYC-based fleet provider Sally to create a reimagined battery swapping experience for EV drivers and get more EV taxi and ride-sharing drivers on the road, faster. Furthermore, we’ll be announcing additional strategic partnerships in the near future, so stay tuned.
Today’s announcement is an exciting continuation of our momentum thus far. More importantly, it demonstrates the global market’s interest in energy solutions that will improve our planet and the impact we have on it now, and for generations to come.