VEV Secures Investment to Accelerate European Expansion of Fleet Electrification Services
The funding round was led by Jolt Capital with Tesi as a co-investor to support entry into France, Germany, and the Netherlands.
Commercial fleet electrification provider VEV has secured new investment to expand its services into France, Germany, and the Netherlands. The funding round was led by Jolt Capital, with Finland’s state-owned investment company Tesi joining as a co-investor.
What Happened
VEV announced the receipt of an unspecified amount of capital to support its growth strategy across Europe. The company currently serves approximately 6,000 commercial electric vehicles, with more than 5,000 of those located in the UK. VEV’s operations are anchored by its intelligent charging and energy management platform, VEV IQ, which is operational at over 600 sites serving the transport, logistics, and waste sectors.
Why It Matters
The expansion comes as commercial fleets face increasing pressure to integrate electric vehicles with broader energy infrastructure. Clara Audry, General Partner at Jolt Capital, noted that VEV is one of the few European platforms bringing together vehicle, depot, and power network management capabilities, currently powering more than 20% of the UK heavy-fleet energy market. Mike Nakrani, CEO of VEV, emphasized that the challenge for operators has shifted from simply choosing vehicles to integrating infrastructure, energy, and operations in a scalable and cost-effective manner.
The Bottom Line
VEV will use the new funds to enter the French, German, and Dutch markets, leveraging its existing platform that manages charging and energy assets for thousands of commercial EVs across Europe.
