Spanish electric vehicle charging company Zunder has raised €100 million from French sustainable investment manager Mirova, an affiliate of Natixis Investment Managers, in a bid to accelerate the rollout of ultra-fast EV charging stations across Southern Europe. This round follows the early backing from energy and infrastructure investment firm White Summit Capital and co-investors. ha
Accelerate its EV charging network
Having quickly established itself as a leading independent EV charging infrastructure operator in the Iberian Peninsula, Zunder plans to utilise the latest investment to speed up its EV charging network and surpass 4,000 ultrafast charging points across Southern Europe. In terms of international expansion, they will open soon their first own charging point in France followed by Portugal and Italy.
The company aspires to own and operate over 40,000 charging points through its platform by 2025 with a capex plan of over €300 million over that period.
Daniel Perez, Zunder’s CEO commented, ”Zunder is changing the way we move. Our mission to expand ultra-fast charging is critical to enable seamless EV adoption in Southern Europe. We are delighted, and will propose it to our shareholders, to welcome Mirova as a shareholder in this deal, reaffirming our vision, strategy, business model and values, paving the way for Zunder’s multi-billion deployment plan over the next decade.”
Witold Marais, Investment Director at Mirova stated, “The decarbonation of mobility and transportation is critical to the net zero pathway, and it is therefore core to our investment strategy. Having been involved in the EV charging infrastructure space since 2019, we value Zunder’s positioning, premium quality service, and ambition to become a leading fast-charging network operator across Southern Europe.”
Alexandra Chenguelly, Principal at WSC, added that “White Summit Capital invested in Zunder with the goal of decarbonising the private transport sector. Partnering with a team of passionate experts and, developing a unique, differentiated and robust business model has been key to the company’s success to date. We are delighted to welcome our new partner Mirova, who not only shares our ambitious sustainability focus but will now help us to accelerate the growth and internationalisation of Zunder’.
Ultra-fast EV charging network
Zunder founded in 20217 by Daniel Pérez, is the largest independent EV1 ultra-fast-charging operator in Iberia. It has been voted the best-rated company by users in its market and has seen exponential growth since 2020. Spain has a target to reach over 5 million EVs by 2030, up its current 300,000 network, driven by its in-house developed location selection technology, focus on ultra-fast charging, creating a demand for robust fast-charging public infrastructure.
In addition, the growth is driven by Zunder’s in-house developed location selection technology, focus on ultra-fast charging, and an industry-leading app, enabling long distance electric travel and eliminating “range anxiety” for thousands of EV customers across Spain.