Why we invested in Volteum

The speed of growth is a lot faster than most experts in the automotive or oil industry expected in previous years. For example, BP’s outlook in 2016 expected 71 million EVs by 2035, EY’s 2020 report predicted 2030 for the same number and now Bloomberg forecasts that we’ll surpass 70 million by 2025. 

While China accounts for almost 50% of all EVs, Europe and North America are at 34% and 15% respectively. The new policies like Joe Biden’s Build Back Better Agenda - which formed the cornerstones of the Inflation Reduction Act of 2022 focusing a lot on GHG emission and climate change - and the current macro environment - with the soaring energy prices due to War in Ukraine - will get the EV market moving in the West as well. 

While the OEMs will be able to solve the Ordinary Man’s problem for route planning, charging optimization and other EV-specific issues, no real solution was offered to fleets - managing thousands of vehicles - until Volteum.

Fleets are not only the most feasible candidates for switching to electric early, but they are also the most complex in composition (think of company cars, sales or repair vehicles, pool cars, last-mile delivery vehicles) and as one might expect specific needs and wants. They need a unified software solution which no OEM will provide. 

Volteum’s software can predict your vehicle's energy needs and plan the perfect route with optimized charging sessions. All while taking into account outside factors like the weather, altitude, or the occupancy of the chargers ahead. At the same time, they provide a fully equipped platform for the Fleet Operator to be able to monitor and interact with its vehicles.

Their service is available for Geotab customers - the fastest growing telematics provider globally - serving more than 3 million vehicles. Volteum’s software is sought by many players in the industry as they realized that this solution is the missing puzzle piece for fleets to switch to electric.

Zsófi, Dávid, Kornél and Krisztián, 4 engineer founders are working on this solution since 2019. They started out with a consumer application which formed the basis of the current B2B solution. As fleet electrification is happening faster than anyone previously imagined, the charging infrastructure will be a bottleneck for a long time, thus charging optimization will be the key feature for any fleet managers. We have a  strong conviction that the Volteum team is going to be an influential player in the global market.