Fuel for the future: VOOL raises €1.5M to accelerate growth

Startups aren't always smooth sailing — and we have never pretended otherwise. Over the past 18 months, VOOL has grown fast, but like many hardware companies, we have faced a tricky balance between momentum and liquidity. While business has been strong — growing revenues, expanding markets, and excellent customer feedback — fundraising took longer than expected. But today, we’re in a much stronger position. We’re happy to share that we’ve just closed a €1.5 million funding round, with support from existing investors and a new fund from Finland. This allows us to continue growing our production, and keep up with the accelerating demand for EV infrastructure across Europe.

So far this year, we have been focusing on solving charging at the places where it’s needed most: apartment buildings and office complexes. That means smart, scalable hardware and intelligent software — a combination that’s clearly working. This year, Switzerland has become our biggest market, with strong demand for smart charging in apartment blocks. At the same time, we’ve continued to strengthen our position as market leader in the Baltics, where adoption of EV infrastructure is picking up speed. After generating €2.7M in revenue in 2024, we’re on track to pass €5M this year. And yes — we have got a few exciting customer announcements coming soon.

We are thankful to the people who backed us early, supported us through the tough months, and continue to believe in VOOL's mission to empower people to seamlessly manage their energy and take control of their power needs. With our all-in-one EV charging solution, we make energy smarter, more accessible, and easier to use—at home, at work, and everywhere in between. We are building for the long run - and just getting started.