Qwello focuses on the provision of inner-city, public charging infrastructure. To this end, the Munich-based startup operates charging stations at public locations in partnership with local municipalities. Qwello offers cities a turnkey charging solution by providing all elements of the charging station infrastructure, including hardware and software development, installation, ownership, operation, and maintenance. The charging stations are also equipped with user-friendly features, such as icon-based user communication for universal use, options for contactless credit card or mobile payment, and an integrated cable with a Type 2 plug, as well as a Type 2 socket for users who prefer to use their own cable. The associated app handles billing, reservations, and location searches.
Well positioned for Europe with expertise and capital
With the fresh capital, the MTZ startup plans to drive its expansion and place its charging stations in cities across Europe. Henrik Thiele, Managing Director and founder of Qwello, says:
"We were looking for a financial partner who shares our vision of simplifying charging in public, urban locations. We believe Tiger is a like-minded investor whose expertise and capital will help us make Qwello a leading brand in Europe. With Tiger's investment, Qwello is well positioned to help cities across Europe meet the immediate and growing need for public electric vehicle charging infrastructure."
to finance Qwello's growth
Emil W. Henry, Jr., CEO and Managing Director of Tiger Infrastructure, commented:
“The European EV sector (Electric volt sector, editor’s note) is experiencing unprecedented growth, driven by EV subsidies, rapidly declining battery costs, and the expansion of EV supply by OEMs. However, the supply of charging infrastructure is not keeping pace with the high demand for EVs. I am pleased that Tiger Infrastructure is investing in Qwello at this inflection point in the evolution of the electric vehicle industry. Qwello has developed an impressive product and established several partnerships with major cities for the installation and operation of charging stations. We look forward to funding Qwello's growth and the development of the infrastructure to create a leading provider of EV charging infrastructure."
And Alessandro Boninsegna, Managing Director of Tiger Infrastructure, added:
"We have been following the electric vehicle charging sector closely over the past few years because we believe the industry is poised for significant growth. Henrik and his team have built an impressive company with a superior product, a unique business model, and a differentiated go-to-market strategy. We look forward to supporting the company in its next phase of growth."
