Amsterdam-based Tap Electric, a startup that focuses on driver experience for electric vehicle owners and charger operators, announced that it has raised €1M in a seed funding round led by LUMO Labs, Shamrock Ventures and Fair Capital Partners Impact Investing.
The financing also brings together three experts who played a significant role in the early days of the Dutch electric vehicle (EV) charging industry – Nico Spoelstra and Dan Pezim, co-founders of Tap Electric and former GreenFlux executives (acquired by DKV in 2021), and Alef Arendsen, founding partner at Shamrock Ventures and co-founder of TheNewMotion (acquired by Shell in 2017).
With this new funding, Tap Electric says it plans to expand its team and bring its innovative products to the market more quickly.
“We’re thrilled to have the support of such experienced investors who share our vision of delivering brilliant driver experience at the intersection of grid and mobility,” says Nico Spoelstra, CEO and Co-Founder of Tap Electric.
“This funding round gives us not only the capital required to execute our mission at pace, but also the strategic support we need to accelerate our impact,” he adds.
Tap’s revolutionary products
Tap Electric has created two important products to date – an app for drivers known for its clear pricing information and a comprehensive platform for charger owners and installers to manage payments and hardware.
One distinctive aspect of Tap Electric’s business model is that it is the only platform in the market that refrains from imposing fees on charge owners and installers, an innovation driven by a high degree of automation.
The company’s core mission revolves around facilitating accessible charging solutions that ease the transition to electric vehicles while integrating mobility with renewable energy, directly contributing to Sustainable Development Goals (SDGs) 7 (Affordable and Clean Energy) and 11 (Sustainable Cities and Communities).
Optimism about Tap Electric’s future
Sven Bakkes, founding partner at LUMO Labs, expresses his excitement to invest in Tap Electric’s cutting-edge technology and innovative approach to electric vehicle charging.
“We believe Tap Electric has the potential to revolutionise the EV charging market and significantly reduce the environmental impact of transportation,” says Bakkes.
Arendsen also mentions that Shamrock Ventures is proud to support Tap Electric in its mission to provide sustainable and convenient EV charging solutions.
“We are impressed by the team’s passion and commitment to advancing the adoption of electric vehicles, and we look forward to seeing their impact on the market,” he says.
Daan Laméris, partner at Fair Capital Partners Impact Investing, says, “We are excited to partner with Tap Electric to help bring their innovative and sustainable EV charging solutions to market.”
“With our Fair Capital Impact Fund, we are committed to supporting companies that are driving positive change, and we believe that Tap Electric has the potential to make a significant impact in the transition towards a more sustainable future,” he adds.
