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Total amount raised
$327M
Latest funding date
2025-06-10
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.
Ample has raised funding across 7 rounds backed by 19 investors including Mitsubishi Corporation, Blackstone, Shell Ventures, and Moore Strategic Ventures.
Keep reading to explore Ample's fundraising journey.
What Is Ample?
Ample is a San Francisco-based clean energy company specializing in modular battery-swapping technology for electric vehicles. Founded in 2014, Ample's system allows EVs to swap a depleted battery for a fully charged one in as little as five minutes, targeting high-utilization fleets such as rideshare and delivery vehicles. The company has partnered with major players including Uber, Stellantis, and Mitsubishi Corporation to deploy its battery swap stations globally. In December 2025, Ample filed for Chapter 11 bankruptcy, citing supply chain disruptions and contraction in public and private EV investment.
How Much Funding Has Ample Raised?
- Series A
- Amount Raised: USD 31,000,000
- Date: August 2018
- Lead Investors: Shell Ventures
- Participants: Moore Strategic Ventures, Repsol Energy Ventures, Hemi Ventures, Trirec
- Series B
- Amount Raised: USD 35,000,000
- Date: February 2020
- Lead Investors: MacKinnon, Bennett & Company
- Participants: Undisclosed additional investors
- Series C
- Amount Raised: USD 160,000,000
- Date: August 2021
- Lead Investors: Moore Strategic Ventures
- Participants: ENEOS Group, Shell Ventures, PTT, Momentum Venture Capital (formerly SMRT Ventures), Rose Park Advisors
- Private Equity / Series C Extension
- Amount Raised: USD 50,000,000
- Date: November 2021
- Lead Investors: Blackstone
- Participants: Banco Santander
- Grant (California Energy Commission)
- Amount Raised: USD 15,000,000
- Date: February 2023
- Lead Investors: California Energy Commission
- Corporate Round
- Amount Raised: USD 25,000,000
- Date: November 2024
- Lead Investors: Mitsubishi Corporation
- Grant (IDAE / NextGenerationEU)
- Amount Raised: EUR 9,760,000 (~USD 10,500,000)
- Date: June 2025
- Lead Investors: Institute for Energy Diversification and Saving (IDAE), Spain
Total Amount Raised: At least $326,500,000 based on disclosed funding across all rounds.
Key Investors
- Shell Ventures
- Details: Shell Ventures led Ample's Series A in August 2018 and participated in the Series C. As the venture arm of Shell, it focuses on investments in clean energy and mobility.
- Moore Strategic Ventures
- Details: Led the $160M Series C in August 2021 and participated in the Series A. A New York-based investment firm focused on disruptive technologies.
- Blackstone
- Details: Led a $50M investment in November 2021, pushing Ample to unicorn status (valuation exceeding $1 billion). Blackstone joined Ample's board as part of the deal.
- Mitsubishi Corporation
- Details: Invested $25M in November 2024 as a strategic partner to expand Ample's battery-swapping technology globally, leveraging expertise in mobility, renewable energy, and battery reuse.
- California Energy Commission
- Details: Awarded Ample a $15M grant in February 2023 to manufacture next-generation EV batteries and support the expansion of Ample's automated battery module production facility in Brisbane, California.
- Institute for Energy Diversification and Saving (IDAE)
- Details: The Spanish IDAE awarded Ample a grant of EUR 9.76 million (~USD 10.5M) in June 2025 under the Moves Singulares program, funded through NextGenerationEU, to deploy modular battery swap stations in Madrid in collaboration with Stellantis.
What's Next for Ample?
Ample filed for Chapter 11 bankruptcy in December 2025, citing supply chain disruptions and reduced government EV incentives. The company is pursuing a Section 363 sale or recapitalization of its assets, primarily its IP and battery-swapping technology. Despite these challenges, Ample's modular battery-swapping technology remains of strategic interest, with ongoing international deployments in Europe and continued industry partnerships. The outcome of the bankruptcy process will determine the future of Ample's innovative approach to EV energy delivery.
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