Total amount raised
$315.7 Million
Latest funding date
11/01/2024
Location
Ample has successfully raised funding over 7 rounds, with the latest being a Grant round. The company is backed by 19 investors, including the Institute for Energy Diversification and Saving and Mitsubishi Corporation.
Ample's modular battery swapping technology offers a rapid, cost-effective solution for electric vehicles, aiming to make renewable energy more accessible. Keep reading to explore the intricacies of Ample's fundraising journey and the investors backing this innovative platform.
What Is Ample?
Ample is a private company based in San Francisco, California, specializing in modular battery-swapping technology for electric vehicles. The company operates in various industries, including automotive, charging infrastructure, electric vehicles, energy, energy storage, and transportation.
With an employee count ranging from 101 to 250, Ample aims to revolutionize energy delivery by making it fast, cost-effective, and compatible with any electric vehicle. Their innovative approach includes capturing renewable energy and deploying lightweight stations rapidly across cities.
How Much Funding Has Ample Raised?
- Series A
- Amount Raised: USD 31,000,000
- Date: August 2018
- Lead Investors: Shell Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and scale their modular battery-swapping technology.
- Series B
- Amount Raised: USD 34,729,852
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their battery-swapping infrastructure and operations.
- Series C
- Amount Raised: USD 160,000,000
- Date: August 2021
- Lead Investors: Moore Strategic Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the deployment of their technology and expand into new markets.
- Private Equity
- Amount Raised: USD 50,000,000
- Date: November 2021
- Lead Investors: Blackstone Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support large-scale deployment and enhance technology capabilities.
- Grant
- Amount Raised: USD 15,000,000
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund research and development initiatives.
- Corporate Round
- Amount Raised: USD 25,000,000
- Date: November 2024
- Lead Investors: Mitsubishi Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive expansion of battery-swapping technology and leverage Mitsubishi's expertise in related fields.
- Grant
- Amount Raised: USD 10,500,000 (EUR 9,760,000 converted)
- Date: June 2025
- Lead Investors: Institute for Energy Diversification and Saving
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support sustainable energy initiatives and further technological advancements.
Total Amount Raised: USD 325,229,852. Current Valuation: Not publicly disclosed.
Key Investors
- Institute for Energy Diversification and Saving
- Details: The Institute for Energy Diversification and Saving is a Spanish government agency focused on promoting energy efficiency and renewable energy. It aims to reduce energy consumption and increase the use of sustainable energy sources.
- Investment Focus Areas: Renewable energy, energy efficiency, sustainable development
- Notable Investments: Not publicly disclosed
- Mitsubishi Corporation
- Details: Mitsubishi Corporation is a global integrated business enterprise that operates in various industries, including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. The company is headquartered in Tokyo, Japan.
- Investment Focus Areas: Mobility, renewable energy, energy storage, battery reuse and recycling
- Notable Investments: Not publicly disclosed
- Blackstone Group
- Details: Blackstone Group is one of the world's leading investment firms, specializing in private equity, real estate, credit, and hedge fund investment strategies. The firm is headquartered in New York City.
- Investment Focus Areas: Private equity, real estate, credit, hedge funds
- Notable Investments: Hilton Worldwide, Refinitiv, Ancestry.com
- Moore Strategic Ventures
- Details: Moore Strategic Ventures is the private investment vehicle of Louis Bacon, focusing on long-term investments in various sectors. The firm is known for its strategic and opportunistic investment approach.
- Investment Focus Areas: Technology, energy, real estate, financial services
- Notable Investments: Not publicly disclosed
- Shell Ventures
- Details: Shell Ventures is the corporate venture capital arm of Royal Dutch Shell, investing in innovative companies that are transforming the energy sector. The firm focuses on accelerating the transition to a sustainable energy future.
- Investment Focus Areas: Energy, mobility, digitalization, sustainability
- Notable Investments: Not publicly disclosed
What's Next for Ample?
Ample's future looks promising with the recent $25 million investment from Mitsubishi Corporation, which will help expand its battery-swapping infrastructure. This collaboration leverages Mitsubishi's expertise in mobility and renewable energy, opening doors for significant growth in Japan and other markets. The partnership with major OEMs like Stellantis and Mitsubishi Fuso Truck and Bus Corporation further solidifies Ample's position in the industry.
As the demand for electric vehicles continues to rise, Ample is well-positioned to capitalize on this trend. The company may seek additional investments to scale its operations and integrate its technology with a broader range of EV models. However, challenges such as scaling infrastructure, navigating regulatory conditions, and ensuring sustainability will need to be addressed to maintain momentum.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Ample and gather other critical business insights.
Sign up for free to start making data-driven decisions and stay ahead in the competitive landscape.
