Estonian startup VOOL revs up with €1.7 million boost for its EV charging solution
Summary
Estonian EV charging startup VOOL has just raised €1.7 million to fuel the production of its innovative solution, and the former President of Estonia, Kersti Kaljulaid is a new backer. Additional backers include Elar Nellis, Taavi Kotka, Justin Jenk, Toomas Kõuhkna, as well as Opus 11 VC and Startup Wise Guys • None This brings the total amount raised by the startup to €4.7 million, with €3 million stemming from an EU grant Kersti Kaljulaid: “I invest in companies that operate in a sector I understand and create real things for which there is a market. Currently, your dishwasher, charger, and kettle still have access to only a fraction of the full capacity of the grid, even though the whole of Europe is connected to three phases of electricity. The solution also maximises cost-efficiency as the software tracks the electricity prices and ensures that the EV is charged at the lowest cost possible within the set timeframe. To be honest, it is such a simple solution that I am surprised this had not yet been invented.” With the funding secured, VOOL plans to ramp up the production of its chargers and expand its reach into new European markets.