Delft-based Rocsys has announced a $36M Series A funding round. With this latest investment, comprising a roughly equal split of debt and equity financing, the robotic EV charging specialist will expand the capabilities of its platform as it rapidly scales its presence in the US and Europe. Led by SEB Greentech Venture Capital, the round also includes participation from Graduate Entrepreneur, the European Investment Bank (EIB) and returning investor Forward.One. The EIB’s contribution consists of an €18M loan through the InvestEU program.
Rocsys combines soft robotics, AI-based computer vision and data-driven services to easily adapt existing chargers into an autonomous system that can plug in and out without manual intervention. This removes the risk of operator errors, ensures regulatory compliance and vehicle uptime and minimizes damage and human exposure to high-voltage equipment. Even if drivers forget to plug in on time or employees are barred from handling electrical cables, the system ensures that all vehicles are charged and ready to operate. It works for consumer and fleet vehicles, including port equipment, industrial applications, heavy-duty and more.
“There’s too much friction in the EV charging process today, creating needless barriers to sustainable transportation,” says Rocsys co-founder and CEO Crijn Bouman. “That’s why we created a technology-agnostic solution that converts any charger into a fully automated experience, maximizing the return on investment and sustainability impact of already-installed charging infrastructure. With this Series A funding, we’re bringing this breakthrough solution to more customers and industries worldwide.”
The capital infusion will support research and development into additional features for Rocsys’ second and third-generation charging solutions, including intelligent parking guidance, expanded software integrations for vehicle navigation and fleet management systems, and additional remote diagnostics and teleoperations support. The company also plans to build out its North American division, headquartered in Portland, Oregon, to further support application engineering and customer service in the region while expanding local supply chain and manufacturing activities.