Rocsys, a provider of autonomous charging solutions for electric transportation, has closed $36 million in a Series A funding round. Led by SEB Greentech Venture Capital, the round also saw participation from Graduate Entrepreneur, the European Investment Bank (which backed IQM and Ryvu Therapeutics), and returning investor Forward.One.
Expansion to the US and Europe
With this latest investment, which includes a roughly equal split of debt and equity financing, Rocsys will expand the capabilities of its platform as it rapidly scales its presence in the United States and Europe.
The capital infusion will support research and development into additional features, which include intelligent parking guidance, expanded software integrations for vehicle navigation and fleet management systems, and additional remote diagnostics and teleoperations support.
Rocsys also plans to build out its North American division, headquartered in Portland, Oregon, to further support application engineering and customer service in the region while expanding local supply chain and manufacturing activities.
“At SEB, we invest in companies with proven sustainability impact, real-world and scalable use cases, and strong growth,” said Mikko Huumo, Investment Manager at SEB. “Rocsys makes electrification practical for vehicles ranging from personal autonomous cars to continuously operating heavy-duty equipment, a major source of emissions. We are thrilled to lead the company’s funding round and accelerate the sustainable transportation revolution.”
“There’s too much friction in the EV charging process today, creating needless barriers to sustainable transportation,” said Rocsys Co-founder and CEO Crijn Bouman. “That’s why we created a technology-agnostic solution that converts any charger into a fully automated experience, maximising the return on investment and sustainability impact of already-installed charging infrastructure. With this Series A funding, we’re bringing this breakthrough solution to more customers and industries worldwide.”
Appoints new members
As part of the round, Rocsys welcomes four new members to its Board of Advisors, including Mikko Huumo of SEB, Frederik Gerner, and Jan Willem Friso of Forward.One, and new chairperson Dr. Gregor Matthies. Each of these leaders brings decades of expertise in the technology and mobility spaces.
“Rocsys is transforming the EV charging experience by creating an easy-to-use and scalable solution,” said Frederik Gerner, Venture Partner at Forward.One. “Their ability to bring an innovative solution to the market and partner with OEMs to set an industry standard is impressive. Rocsys is the future of electric charging and we’re proud to support them in achieving their mission.”
Robotics-powered autonomous charging solutions
Founded in 2019 by Crijn Bouman, Joost van der Weijde and Kanter Van Deurzen, Rocsys’s innovative approach to autonomous charging puts them at the forefront of a new frontier in transportation.
Rocsys combines soft robotics, AI-based computer vision, and data-driven services to easily adapt existing chargers into an autonomous system that can plug in and out without manual intervention. This removes the risk of operator errors, ensures regulatory compliance and vehicle uptime, and minimises damage and human exposure to high-voltage equipment.
Even if drivers forget to plug in on time or employees are barred from handling electrical cables, Rocsys ensures that all vehicles are charged and ready to operate. Its solution works for consumer and fleet vehicles, including port equipment, industrial applications, heavy-duty, and more.
The company estimates its technology will drive up to a 20% increase in throughput for fast-charging stations and is projected to reduce CO2 emissions by 400 million tons by 2035.
