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SAIC Motor and Hyundai Motor Company Investment

CUPERTINO, Calif., April 23, 2020 /PRNewswire/ — ampUp today announced the Company has raised an undisclosed amount to accelerate development of electric vehicle and charging technologies. Investors include leading automakers SAIC Motor and Hyundai Motor Company. While Forest Ventures and others participated in the round.

“We are extremely pleased to receive such strong backing from leading automakers SAIC and Hyundai during this unprecedented time. It is more important than ever to work on sustainable energy technologies and products, we view electrifying transportation as a critical part of that,” said Thomas Sun – CEO and Co-founder of ampUp.

Since launching in early 2019, ampUp has developed software to make charging stations flexible for drivers and easy to manage for businesses or property owners. Graduates of the YCombinator incubator, ampUp also offers unique features such as smart scheduling, dynamic access control, load management, payment processing and real-time analytics.

“We look forward to working with the ampUp team worldwide to best serve our customers and further advance the adoption of electric mobility,” says Holly Wu – Investment Principal at SAIC Capital.

Using dynamic features such as vehicle telematics, scheduling and access control, ampUp continues to build solutions for individual and fleet charging optimization. The Company has partnered with more than 20 charging hardware, software and service providers to offer site hosts and fleet owners a control center for all electrification needs.

“ampUp shows that the wide adoption of EV in both consumer and commercial applications depends on how to best leverage existing charging infrastructure. We are very excited to explore various projects with ampUp,” said David He and Kyunghyun Kang of the Hyundai CRADLE investment team in Mountain View.

About ampUp

ampUp is an electric vehicle (EV) software company that enables drivers, hosts and fleets to charge stress-free. Our technology gives businesses and property owners the ability to efficiently manage multiple charge stations in one place. Advanced features, such as smart scheduling, dynamic access control and energy optimization provide site hosts more flexibility and affordability for their charger investment. Our community and fleet management system also allows site hosts to participate in ampUp’s peer-to-peer charging network, the largest and fastest growing in the world. For more information, visit https://ampup.io

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