Île-de-France-based WAAT, a company specialised in charging infrastructure for electric vehicles in private environments, has raised €100M from a sustainable investment fund of the DWS Group (“DWS”), and from Bpifrance.
Existing shareholder RAISE Impact also participated in the round.
The fresh capital will enable the company to accelerate its development in France and Europe.
The funding will also enable WAAT to expand the deployment of charging terminals across condominiums, social housing, and commercial buildings, while further developing its smart technology solutions.
“This fundraising marks a major milestone in the history of WAAT. In a demanding environment, our teams are truly proud to have succeeded in mobilising partners of this calibre. It’s recognition of our business model, rooted in the real world and capable of reconciling impact, industrial performance and long-term growth,” says Patrick Kic, Chairman of WAAT.
Targets to tick by 2030
The French company has outlined a list of objectives for the private mobility electrification, with a target year of 2030.
One of the key initiatives includes installing 250,000 active charging points by deploying charging infrastructure on an industrial scale.
Additionally, the company aims to strengthen its position in vital markets and solidify its reputation as a benchmark in the condominium market, while accelerating its expansion in the commercial sector.
To further support the adoption of electric power, the company plans to accelerate its service model through the development of high-performance, interconnected digital services.
An initiative, MyWAAT, will be transformed into a smart energy coach by integrating artificial intelligence to optimise charging performance and improve customer engagement.
Furthermore, WAAT is looking to broaden its international reach by deploying a proven operational model that has already been successfully implemented in France.
WAAT: Making electric charging accessible everyone
WAAT is focused on making electric mobility accessible. It offers charging solutions for condominiums, social housing, and businesses, aiming to reduce carbon footprints and promote healthier cities.
With over 250 team members across 20 locations in France, WAAT provides personalised customer support.
The company handles all project stages, from installation to maintenance, and offers the MyWAAT app to make charging easier.
At present, the company employs 300 people, generates annual revenue of €70M, and has reported a positive EBITDA for three consecutive years, reports Le Figaro.
