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November 17, 2022

RABOT CHARGE secures millions in financings

The Hamburg-based startup RABOT CHARGE received its first million in a pre-seed financing round in April 2022. Now the next step followed with an additional 2 million euros.  The new seed round is led by Munich-based early-stage investor yabeo Impact. Existing investors such as Arsago Ventures and a Hamburg-based family office also participated. A further increase in capital has been announced for the near future.

© Wechselpilot:  Jan Rabe and Maximilian Both, founders of RABOT CHARGE
© Wechselpilot: Jan Rabe and Maximilian Both, founders of RABOT CHARGE

RABOT CHARGE knows the best time for electricity consumption

RABOT CHARGE 2021 was founded by Jan Rabe and Maximilian Both, who are also responsible for Wechselpilot, a comparison portal for energy providers. In total, a six-person management team with over 50 years of industry experience is behind the startup. RABOT CHARGE has developed an artificial intelligence-based algorithm that optimizes electricity consumption that can be planned over time. It does so based on current prices on the power exchange and available capacities of green power.

The money will be used to expand the company's business areas

RABOT CHARGE intends to use the new capital to step up its sales activities. The focus is on owners of electric cars with home charging stations. They are often flexible regarding charging times and can therefore benefit in particular from the fluctuating electricity prices on the exchange during the course of the day. The same applies to heat pumps. In addition, there are plans to expand the B2B business. The startup plans to offer its technology as a white-label solution to manufacturers of electric cars, wallboxes and sustainable energy technology, for example, as well as to property management companies.

"Up until now, electricity consumers have always purchased electricity at the same fixed price. A kind of average price plus significant risk surcharges of classic electricity suppliers. But if the majority of electricity consumption can be controlled to take place when market prices are below the fixed price level, the old model makes little sense. Variable electricity prices, such as those we offer, allow consumers to take advantage of targeted low-price phases on the electricity exchange. At the same time, we provide incentives for sustainable and grid-friendly electricity consumption. For example, by charging electric vehicles when demand for electricity or grid utilization is low, or when there is a lot of electricity available from wind power."
Jan Rabe, founder and CEO of RABOT CHARGE

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