French e-mobility startup WAAT has successfully closed a new funding round, securing capital from DWS Group’s sustainable investment fund and Bpifrance, the French public investment bank. Existing shareholder RAISE Impact also participated, showing continued confidence in WAAT’s growth strategy. As is common in startups, the exact amounts per investor and the updated ownership structure have not been disclosed.
Read More: Autumn’s 6 Enchanting Escapes to Revel in the Magic and Warmth of Its Charms
Funding to Drive Expansion Across France and Europe
The new capital comes at a critical time for the European EV market. WAAT plans to accelerate growth by expanding charging infrastructure in residential complexes, social housing, and commercial buildings. In a LinkedIn post, the company called the funding a “strong signal in a demanding market,” emphasizing investor confidence even as many charging startups face financial challenges.
Strong Financial Performance Sets WAAT Apart
Unlike many peers, WAAT has posted a positive EBITDA for three consecutive years. Annual revenues recently reached €70 million, according to Le Figaro. This financial stability positions WAAT as a reliable player in a sector where many competitors are still operating at a loss.
Ambitious Goals for EV Accessibility
WAAT’s mission is to make e-mobility more accessible. The company aims to operate 250,000 charging points by 2030. To achieve this, it is enhancing its MyWAAT platform by integrating AI into an “intelligent energy coach” to optimize charging systems, reduce costs, and boost customer engagement.
Balancing Technology with Human-Centric Service
While many operators increasingly rely on AI for customer support, WAAT emphasizes personalized assistance. The company employs over 250 team members across 20 sites in France, combining innovation with direct customer engagement to maintain high service standards.
Expansion into New European Markets
The fresh funding will support WAAT’s expansion into international markets. While specific countries and timelines have not been disclosed, the company plans to replicate its proven French operating model, ensuring efficiency and scalability.
Technology and Innovation at the Core
WAAT is investing in technology to enhance its services. The AI-powered energy coach will enable users to optimize charging schedules, monitor consumption, and integrate renewable energy sources. This approach positions WAAT as a comprehensive energy management platform, not just a charging provider.
Commitment to Sustainability
Collaboration with DWS Group’s sustainable investment fund underscores WAAT’s commitment to environmentally responsible growth. This aligns with European initiatives to decarbonize transportation and expand renewable energy infrastructure.
Job Creation and Economic Impact
WAAT’s expansion will generate employment opportunities in installation, maintenance, and customer support, contributing to local economies while reinforcing the company’s role as a socially responsible business.
Differentiation in a Competitive Market
The European EV charging sector is increasingly competitive, with established energy companies, tech startups, and automotive manufacturers entering the space. WAAT’s focus on reliable service, innovative technology, and sustainable growth differentiates it from competitors.
Strategic Support from Investors
Participation from Bpifrance and RAISE Impact provides both capital and strategic guidance, essential for scaling operations and entering new markets. This support enhances WAAT’s credibility and growth potential.
Frequently Asked Questions:
What is WAAT?
WAAT is a French e-mobility startup specializing in electric vehicle (EV) charging solutions, offering infrastructure for residential, commercial, and social housing projects.
How much funding did WAAT raise?
WAAT raised €100 million in a new funding round, supported by DWS Group’s sustainable investment fund, Bpifrance, and existing investor RAISE Impact.
What will the funding be used for?
The capital will accelerate WAAT’s growth in France and Europe, expand its network of charging stations, enhance technology solutions, and develop AI-powered digital services for EV users.
How many charging points does WAAT plan to operate?
WAAT aims to operate 250,000 charging points by 2030, significantly expanding access to EV infrastructure across Europe.
How is WAAT different from other EV charging startups?
Unlike many loss-making competitors, WAAT has maintained a positive EBITDA for three consecutive years and focuses on combining innovative AI technology with personalized customer support.
What technological innovations is WAAT developing?
WAAT is integrating AI into its MyWAAT platform, creating an “intelligent energy coach” to optimize charging schedules, reduce energy costs, and enhance customer engagement.
Will WAAT expand internationally?
Yes, WAAT plans to extend its operations beyond France by applying its proven operating model in new European markets, although specific countries and timelines are yet to be disclosed.
Conclusion
WAAT’s €100 million funding round marks a pivotal moment in the European EV charging sector. With ambitious expansion plans, innovative AI-driven solutions, and a strong focus on personalized customer service, the company is poised to make electric mobility more accessible than ever. Backed by strategic investors and a proven business model, WAAT is set to redefine the EV landscape, driving sustainable growth and setting new standards for the future of e-mobility in Europe.
