Goodyear invests in EV charging provider AmpUp

Goodyear Ventures has made another mobility-related investment, becoming one of several parties to inject capital into US-based electric vehicle charging provider AmpUp. This funding, which also includes capital from Foothill Ventures and TechNexus Venture Collaborative, comes less than a year after AmpUp’s initial seed raise.

AmpUp plans to use the new capital to scale operational and technical capabilities to meet growing sales demand. “We’re excited to welcome new investment partners to help AmpUp achieve our mission of increasing charge station access across North America,” says
Thomas Sun, chief executive officer and cofounder of AmpUp. “Our software tools and mobile app give EV drivers and station hosts a consistent and user-friendly experience, and we can’t wait to put these products in the hands of more customers.”

Providing reliable charging stations

Founded in 2018, AmpUp’s solutions serve thousands of EV drivers and charge station owners across North America and abroad. AmpUp says its product line “provides an easy way” to manage electric vehicle charging stations for property owners, utilities, and fleets.

“It’s important to provide consumers and fleets with solutions that unlock the full potential of electric vehicles, so it was logical to establish a relationship with AmpUp,” shares Abhijit Ganguly, managing director, Goodyear Ventures. “Recent advancements in the electrification of mobility have continued to demonstrate the need for reliable charging solutions, and Goodyear is pleased to collaborate with AmpUp to meet this growing demand.”

AmpUp’s round of fundraising comes off the back of achieving major milestones this year, including a 160-charge station project in downtown Los Angeles and EV charging pilots with three major utility firms. The trio backing the new round join past investors that include YCombinator, Hyundai, SAIC Motor, and iSun.