Amstelveen, August 12th 2021 - Mainport Innovation Fund and NBI Investors today announced that ChargePoint Holdings, Inc., a leading electric vehicle (EV) charging network operating in North America and Europe, acquired portfolio company ViriCiti, a leading provider for electrification solutions for e-bus and commercial fleets. At the time of transaction completion, ChargePoint acquired ViriCiti for a total purchase price of approximately €75 million in cash, subject to adjustments.
Founded in 2012, ViriCiti today has over 50 employees in the Netherlands and the United States and an established market share in North America and Europe with approximately 150 fleet operators, 3,500 connected vehicles and 2,500 networked places to charge under management. ViriCiti currently serves many blue-chip fleet operators and OEMs, including a.o. Arriva, GILLIG, Keolis, New York City Transit, PicNic & SMFTA. The ViriCiti team, its blue-chip customers base and technology will become part of the ChargePoint operations.
Thijs Gitmans (investment partner Mainport Innovation Fund): "We invested in 2016 in ViriCiti when the e-bus market was still nascent. Ever since the team has been consistently building on their superior solution that enables the electrification of commercial transportation. We are very proud to see this effort rewarded through the acquisition by ChargePoint".
Freek Dielissen, CEO of ViriCiti, said, "Our mission over the last nine years has been to help fleet operators manage their entire electric operation. Today, zero-emission transportation is at a tipping point, and we are excited to join EV charging leader ChargePoint, integrate our complementary offerings and tap into the resources that will enable the electrification of fleets at a faster pace across Europe and North America".
''To generate significant and real environmental impact, it is important that tech start-ups -like ViriCiti- have the means and infrastructure to scale quickly. We invest early to help founders bring revolutionary ideas to the market. EV charging providers like ChargePoint are a crucial next step to make a significant contribution to the Paris climate deal and SDG's'', commented Guus Verhees, Managing partner of NBI Investors (the fund manager of Mainport Innovation Fund)
North America and Europe based EV charging company ChargePoint will benefit from the visionary team, a customer base that committed to electrification early and the frontrunning technology of ViriCiti.
ChargePoint will enhance its global fleet solution portfolio of vehicle charging software, hardware, and services by integrating the ViriCiti service offering that helps fleets optimize their electric operations, including battery management, vehicle OEM agnostic telematics, vehicle operations data, vehicle maintenance data, smart charging and station monitoring. Bolstered by these capabilities and with a continued commitment to interoperating with other systems of record, ChargePoint will deliver the most complete set of solutions for electric fleet operators, from initial infrastructure buildout to daily operations and expansion. This includes upfront identification of the optimal routes to electrify, monitoring and reporting for high uptime, fueling optimization to ensure operational readiness at lowest cost and integrated vehicle and charging station management to ensure smooth operations.
About ViriCiti
ViriCiti started in 2012 with a focus on electric buses and trucks and is now the market leader in the United States and Europe for public transit in North America and Europe, with thousands of buses and chargers connected to its platform. From energy management to maintenance, the ViriCiti online monitoring system provides in-depth insights tailored to each fleet's needs. The company is working with over 150 vehicle OEMs and fleet operators across continents and aims to accelerate the adoption of electric vehicles by offering an all-in-one solution for full-electric and mixed fleets.
About Mainport Innovation Fund
Mainport Innovation Fund II is an early stage Venture Capital Fund, focusing on (sustainable) mobility and logistics. Its investors are: Royal Schiphol Group, KLM Royal Dutch Airlines, Delft University of Technology, the Dutch Railways (NS) and the Port of Amsterdam. The fund aims to accelerate innovations in logistics, aviation and transport and supports entrepreneurs by combining venture capital with strategic expertise and the network of its transport partners.
The fund manager is NBI Investors, which also manages SHIFT Invest, one of the largest environmental impact VC funds in the Netherlands.
