Eleport raises another round of capital to accelerate growth in 2024
Eleport, a leading provider of electric vehicle charging network, has closed financing round from current investors Ambient Sound Investments and Gren and is preparing for a transformative year in 2024 with a comprehensive strategy aimed at consolidating its position in the CEE market and driving sustainable growth. With ambitious plans to invest more than €20 million in 2024 and over €100 in coming years, the Estonian company plans to expand charging network significantly and open more than 1350 charging points in Poland, Lithuania, Latvia, and Estonia this year alone.
Eleport is committed to expanding its electric vehicle charging infrastructure by adding
800 new charging points to its existing network of 550, bringing the total to over 1350 charging points by the end of the year. These expansion plans would represent a remarkable 145% increase over the previous year, underlining Eleport’s commitment to supporting the growing EV market.
Taking into account the existing network efficiency and the current pipeline of new projects, the company anticipates a remarkable year-on-year revenue increase of around 300% in 2024, reflecting a significant growth trajectory.
Given such ambitious plans for the company and the projected growth rate of the business, key shareholders, including Gren and the co-founders of Skype investment firm Ambient Sound Investments, decided to strengthen their financial commitment to the company.
‘Another capital investment during these uncertain times not only signifies confidence from our largest shareholders but also serves as fuel for securing a stronger market position and fostering long-term relationships with our key business partners. Our aim is both to win new individual customers and to strengthen our presence in the B2B market, e.g. through new contracts with corporate fleet operators or agreements with large retail chains’ – said Raul Potisepp, CEO of Eleport.
To support its ambitious goals and expansion plans, Eleport is set to increase its team size by an impressive 40%. This strategic hiring initiative will bring onboard new talent across various functions, enabling Eleport to strengthen its capabilities and drive innovation in the EV charging industry.
`The current level of development of the charging infrastructure does not yet meet the growing demand caused by the increasing number of electric cars. This is one of the reasons why,
in addition to developing our network in Poland and the Baltic States, we are actively exploring opportunities to enter new markets and thus we are evaluating opportunities to develop our sustainable transport solutions in five potential markets: Romania, Hungary, Croatia, Slovakia, and the Czech Republic’ – added Potisepp.
