Charge Amps in a SEK 150 million capital deal with Swedbank Robur, via its equity funds, Microcap and Ny Teknik.

Charge Amps, a Stockholm, Sweden-based manufacturer of chargers for electric cars and plug-in hybrids, announced that it secured a pre-IPO capital funding deal totalling SEK 150 million.

The deal includes equity raised of SEK 130M ($15.3M) raised from Swedbank Robur, via its equity funds, Microcap and Ny Teknik. In addition, Swedbank Robur has purchased shares corresponding to SEK 20M from current shareholders.

The investment will be used to further expand and establish Charge Amps’ European presence in key markets for 2021 including the Nordics, the UK, as well as the DACH and Benelux regions. It will also be used towards R&D to enhance Charge Amps’ product offering and innovation, and to ensure operational excellence in preparation for an IPO, which is planned for next year.

Charge Amps, founded in 2012 by Fredrik Jonsson and led by CEO Anders Bergtoft, develops smart AC charging stations, cables, and dedicated cloud software for use at home, in connection to commercial properties and offices, and in public environments.

The company says it has sold over 40,000 charge points to B2C and B2B customers in 15 countries since the launch of its first charging station Charge Amps Halo, in 2015, and expects to produce SEK 250 million in revenue in 2021.

Charge Amps previously raised money from Sweden, from local investors Navare Invest AB, OK ekonomisk förening and Skellefteå Kraft.