Inbalance raised €1.5m in post seed funding.

Inbalance, a Vilnius, Lithuania-based company that develops and operates smart EV charging stations, raised €1.5 million ($1.8M) in post seed funding.

The money was raised from angel investors Tomas Dirvonskas and Paulius Šarka, joined by existing shareholders Contrarian Ventures, Coinvest Capital, the co-founder of the first Lithuanian unicorn Vinted Mantas Mikuckas, and angel investor Ernestas Petkevičius.

The proceeds will be used to accelerate the expansion of Its EV charging network, planning to install thousands of new stations.

Inbalance, founded in 2019 by CEO Simonas Stankus, develops, manufactures, and operates smart electric car charging stations and is a charging network operator. Their solution focuses on the optimization of electricity consumption and helps meet the demand for electric vehicle charging without the need to change the existing power grid infrastructure.

Inbalance previously raised €950k in 2020.