- Meridiam is leading a €23 million funding round for Chargepoly, a startup that builds charging infrastructure for electric trucks.
- This investment tackles a key challenge in electrifying fleets: building charging infrastructure at depots rather than focusing only on the vehicles.
- So far, Chargepoly has raised $15.9 million and counts CMA-CGM as one of its clients.
Even as demand for electric trucks grows, charging infrastructure is still a problem. For the past six years, Chargepoly has worked to close this gap, and Meridiam’s €23 million investment will help support these efforts.
Meridiam is investing through its Green Impact Growth Fund, with Fideve Groupe joining as a long-standing supporter of Chargepoly. The new funding will help Chargepoly expand internationally and improve its charging platform.
“This investment will allow us to accelerate our international expansion and continue to offer our customers best-in-class charging solutions to electrify their fleets. We are delighted to partner with Meridiam as we enter this new stage of growth. We are extremely proud to have demonstrated to our new investors and shareholders our ability and expertise to carry out this mission successfully,” said Hadi Moussavi, Chargepoly’s founder.
Addressing depot infrastructure challenges
The heavy-duty EV charging infrastructure market is projected to grow from about $6 billion in 2025 to over $90 billion by 2034. Standard chargers are not designed for the space constraints, power limits, and scheduling demands of logistics depots operating multiple trucks overnight. Chargepoly focuses on addressing these specific needs.
Moussavi started Chargepoly in 2019 in Aix-en-Provence, France, after working 16 years at Air Liquide and Corporate Value Associates. A partnership with the VEDECOM e-mobility research institute helped shape the company’s early focus on heavy-duty fleets.
The startup uses a modular charging system and its software, Lucie, to manage power across many charging points. This approach lowers deployment costs and makes the most of existing grid connections. For example, a bus depot with a fixed grid connection can charge more vehicles overnight than with a standard setup, since the system sends power to the vehicles that need it most.
Chargepoly runs hundreds of DC fast chargers in France, the UK, and Canada, and says it helps decarbonise over 1 million kilometres of freight transport each month. Its clients include Groupe Rave, Nationex, and CMA-CGM. The company has tested its system on more than 50 heavy-duty vehicle models and works with Renault Trucks, Volvo Trucks, and Daimler Truck rather than competing with them.
Rivalry between OEMs and software-focused companies
Chargepoly is not alone in this market, which is drawing a lot of investment. Milence, a joint venture of Daimler Truck, TRATON, and Volvo, secured €120 million in financing in May 2026, on top of €500 million in initial equity, and now runs 34 hubs in eight countries.
In the US, Voltera has raised $150 million from EQT and KfW IPEX-Bank to build charging-as-a-service sites for fleets like Einride’s. Munich-based EcoG, which raised €16 million in a Series B round, offers a similar service by providing an operating system for fast-charging hubs rather than owning the hardware.
Milence and Voltera use OEM resources and large-scale infrastructure financing across continents. By contrast, Chargepoly is a smaller company focused on software and works with truck makers instead of competing with them. It remains unclear whether this strategy will persist as larger companies expand their networks.
Yannick Marion, managing director of Meridiam’s Green Impact Growth Fund, said: “The company is addressing a critical need for infrastructure and services that enable the electrification of heavy-duty transport, combining differentiated technology, strong industrial partnerships and highly skilled teams at a time when the total cost of ownership of electric trucks is becoming increasingly competitive with conventional diesel vehicles.”
Looking ahead for the charging infrastructure market
Chargepoly has raised $15.9 million so far, including an earlier round backed by Voltalia. A big question for the industry is whether OEM-backed companies building large networks will lead the market, or whether smaller, software-driven operators focused on smart depot management will play a bigger role in moving fleets away from diesel.
Chargepoly’s €23 million investment does not yet answer this, but it gives the company more resources to move forward.
