Camion, a London-based power and electric vehicle charging intelligence and analytics platform arming users in the real estate and EV charging infrastructure sector with insights to tap growing EV charging demand and futureproof their portfolios, has successfully raised €2.7 million in a pre-seed funding round led by EQT Ventures. First Look Capital and RitMir Ventures also participated in the round, along with notable angel investor Chris Adelsbach. The Camion team, made up of energy and real estate veterans, will use the funding to support the growth of its engineering, machine learning, and data science team to further expand its platform.
Estimates suggest that $1.9 trillion must be spent on charging infrastructure to achieve net-zero commitments by 2050. For this infrastructure to be deployed at scale, developers must rapidly find and develop land located at the nexus of where drivers need charging and where high power needs can be met by local grid operators. Property at these key locations will be in high demand, as property will need to be electrified at an unprecedented scale everywhere that vehicles travel and dwell.
Camion blends property and location-based information with insights around power supply, traffic movements and localised future energy demand to help different market actors identify the best locations depending on their power needs.
Real estate has a growing power demand, due in part to their net zero commitments and to increasing daily requirements of their users to charge vehicles or power the buildings themselves. Many infrastructure and real estate investors are blind to the future risks and opportunities, and Camion fills an important niche by bringing together an array of critical data with proprietary analytics.
Real estate owners and investors who have the technology to understand the value of this infrastructure stand to reap billions in annual rental income and property appreciation, while properties that are unprepared for this transition are at risk of becoming stranded assets, as commercial occupiers and drivers demand EV charging and electrification more broadly. Before Camion, there was no unified platform supporting landowners and infrastructure providers to identify these key properties.
The platform indexes properties based on their readiness and potential for electrification and provides powerful insights enabling users to act quickly to capitalize on the growing need for electric vehicle charging infrastructure. Camion enables real estate owners, investors, lenders, and infrastructure developers to discover new properties that are ready for the energy transition, and complete rapid investment diligence ahead of deploying capital.
Camion’s platform helps identify the growing electricity needs of communities as the energy transition accelerates while protecting and enhancing property values, as access to this infrastructure becomes non-negotiable. At scale, Camion’s platform aligns incentives to unlock and protect trillions in opportunity, avoiding risk to property value and helping real estate owners and infrastructure developers deploy infrastructure at scale.
Jacob Monroe, Founder and CEO at Camion, commented: “The structural shift toward electrification is a huge opportunity for those who act swiftly to understand and deploy electric vehicle charging infrastructure where it is needed. As energy demand and generation become more distributed, electrified real estate will become the next great asset class in the $50 trillion global commercial real estate market. Camion exists to supercharge this once-in-a-century transition through a blend of machine learning, big data, and extensive industry insights.”
Sandra Malmberg, Partner at EQT Ventures, added: “With increasing EV adoption, the real estate sector has the opportunity to become the new “gas station” for EVs while increasing the value of properties for asset owners and developers. There is no question that the real estate industry is rapidly moving towards widespread electrification, and Camion’s platform is removing bottlenecks along the way to scale.”
Read the orginal article: https://www.eu-startups.com/2024/04/london-based-camion-raises-e2-7-million-pre-seed-to-futureproof-real-estate-for-the-energy-transition/
