Electra announced raising €15 million from Serena, Eurazeo, Frst Venture and angel investors from France.

Electra, a Paris, France-based startup building a business around a charging stations network for electric cars, announced the completion of a €15 million ($17.9M) capital funding round.

The money was raised from investors from France, institutional - Serena, Frst Venture and Eurazeo, and angels - Grégory Frapet, CEO of Primonial REIM, Thibault Chassagne and Karim Kaddoura, founders and managers of Virtuo, Bertrand Altmayer, CEO of Cityscoot, and Demba Diallo, an energy sector expert.

Proceeds will be used as the company aims to build a recharging network of 1,000 ultra-fast stations by 2030.

Electra, founded in 2020 by CEO Aurélien de Meaux, Augustin Derville - CDO and Julien Belliato - COO, is working for a solution for charging for electric cars with a network of ultra-fast stations (15 to 30 minutes maximum) and an ultra-simple user experience. The company is yet to be available in the market, as it says it expects to deploy a first batch of 50 ultra-fast charging stations within a year, with first installations by the end of 2021.