Estonian EV startup Vool raises €2.92M for its charging solution offering

VOOL is a complete EV charging solution offering reliable, smart, and cost-efficient charging for business and private customers, thus making the transition to green energy faster, more affordable and hassle-free. Here are details of VOOL’s latest funding round :

🚀 Launch


🏭 Industry

Electric Vehicle (EV) Charging Infrastructure industry


Juhan Harm, Liisa Tammesoo, Elar Nellis

💸 Funding & Investors

  • Investment (September 2023) : €2.92 million (The current investment round brought its total funding to €7,62M, including a grant of €3M from The European Union’s EIC Accelerator innovation fund in 2022, €1,62M in 2023 from the government of Estonia, and €1,7M from the first seed investment round in 2023).
  • Investors : led by Specialist VC and attracted a mix of influential real estate developers, such as Kaamos Group and Astri Group, as well as investment company Amalfi. New angel investors participating in the funding round include Taavi Veskimägi (the former chairman of the board of Estonia’s independent electricity and gas system operator Elering), and Kuldar Väärsi (founder of Milrem Robotics). However, the biggest angel investors were VOOL’s own employees, giving 15% of the investment round. VOOL’s current angel investors include the former president of Estonia, Kersti Kaljulaid, the first CIO of Estonia and founder of the e-Residency programme, Taavi Kotka, the first employee of Pipedrive and the current chief architect at VOOL, Elar Nellis, and many others.

🎯 Funding purpose


🌐 Country HQ


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