The capital comes from the sustainable investment fund of DWS Group and from Bpifrance, the company announced. Existing shareholder RAISE Impact also took part in the round. As is common with startups, the exact amounts per investor and the updated ownership structure were not disclosed.
The funding will allow the company to accelerate its growth in France and Europe, expand the deployment of charging stations in residential complexes, social housing and commercial buildings, and further develop its technology solutions. In a LinkedIn post, the company described the financing as a “strong signal in a demanding market”. While many charging startups are still loss-making, WAAT has reportedly posted a positive EBITDA for three consecutive years, with annual revenues most recently reaching €70 million, according to Le Figaro.
WAAT says its focus is on making e-mobility more accessible by expanding charging infrastructure. The company aims to operate 250,000 charging points by 2030. To achieve this, WAAT plans to accelerate its service model through the development of “high-performance, connected digital services”. Specifically, it wants to enhance its MyWAAT feature by integrating AI into an “intelligent energy coach”, designed to optimise charging systems and strengthen customer engagement.
In other areas, however, WAAT is less reliant on artificial intelligence. While many operators are increasingly replacing customer support with AI bots, WAAT says it offers “personalised customer support” in France, with more than 250 team members across 20 sites.
The fresh funds will not only flow into technology development but also into expansion into new markets. The company has not yet specified countries or timelines for entry, but says it intends to “extend its international reach by applying a proven operating model that has already been successfully implemented in France”.
siliconcanals.com, linkedin.com, lefigaro.fr (in French)
This article was first published by Sebastian Schaal for Ev Authority’s German edition.
