Italy-based Daze, a provider of EV charging solutions, announced that it has raised €15M in a Series A round of funding to fuel its business expansion and accelerate the energy transition.
In addition to the €15M raised, Daze plans to foster engagement with its existing supporters through an equity crowdfunding campaign. This campaign, hosted on the Mamacrowd portal, aims to secure up to €1.5M and is scheduled for launch in February.
Investors supporting Daze
The investment came from CDP Venture Capital, through the EnergyTech compartment of the Corporate Partners I fund and the Green Transition fund. This initiative is supported by resources from the EU through the NextGeneration EU initiative, aimed at fostering innovation in the green transition sector.
Additionally, the European Innovation Council’s EIC Fund, SIMEST’s Venture Capital fund on behalf of the Ministry of Foreign Affairs and International Cooperation, Founders Future, Prana Ventures, and 035 Investimenti, which had previously invested in Daze, have also participated in this round.
Marino Giocondi, Senior Partner and head of the Corporate Partner I fund at CDP Venture Capital says, “Our encounter with Daze immediately led to a great synergy: their project to develop new state-of-the-art wallboxes for home charging demonstrates a future-oriented vision, with a strong technological imprint and a focus on sustainability that could redefine the way the general public interacts with electric mobility.”
“We are proud to accompany this team on their journey of international development together with our corporate Limited Partners, bringing a positive impact to the electric vehicle market and becoming an integral part of this success story.”
Capital utilisation
With the latest funds, Daze aims to solidify its presence in Spain and France, expand into new European markets, and become a global leader within five years.
The company plans to enhance its charger range and introduce products, including automatic charging systems to bidirectional charging technologies, along with services to optimize energy costs.
Giacomo Zenoni and Andrea Daminelli, co-founders of Daze, say, “We are very pleased that major investors such as CDP Venture Capital and EIC Fund fully share our vision and project; now we have the resources and the necessary tools to develop technology very quickly, further assert our presence, and aim to expand into other European markets.”
“The strong, cohesive team we have built over the years allows us to be very quick in developing innovative solutions and agilely choosing the direction to take, a fundamental prerequisite in a rapidly changing sector.”
“Daze is not just a manufacturer of charging stations, it stands out from major competitors by offering charging products and services that integrate into people’s daily lives and accompany them on the path of energy and sustainable transition.”
“Making daily charging of EVs comfortable, simple and smart.”
Founded in 2017 by engineers Giacomo Zenoni and Andrea Daminelli, Daze has evolved to revolutionise electric vehicle charging, with a growing emphasis on energy optimisation.
Co-founders Zenoni and Daminelli say, “Daze was born out of a necessity: to support the energy transition and the adoption of electric cars with technological and innovative products and services that make every home an efficient and sustainable ecosystem.”
Currently, the company has a presence in Italy and Europe, with offices in Bergamo, Paris, and Madrid, comprising a total team of 65 people.
Daze Technology
In 2020, with a team of around 15 people, Daze introduced its first product, Dazebox, to the Italian market. This electric car charger, developed in collaboration with FCA and Engie EPS, prioritised design, affordability, and tailored functionality for home users.
The success of this project fueled Daze’s industrial expertise, enabling the pursuit of more ambitious ventures.
Dazebox evolved over two years with software updates, introducing features like intelligent charging power balancing, photovoltaic system integration, and the Daze App for remote monitoring and management.
In the latter half of 2023, Daze unveiled its latest home charger: Dazebox Home. This EV charger epitomises the pinnacle of home charging system technology and design.
Brief about the EIC Fund
The European Innovation Council Fund, supported by the European Commission, is a technology-agnostic fund covering all EU countries and Horizon Europe-associated nations.
It claims to play a key role in the investment component of the EIC Accelerator blended finance, with the European Investment Bank serving as the investment adviser.
The EIC Fund aims to fill a financing gap, supporting companies in developing disruptive technologies. It fosters partnerships, shares risk, and builds a network for co-investments and follow-on funding.
The Fund prioritises empowering and supporting female founders, alongside the goal of narrowing the innovation gap among EU countries.
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