Camion, a London-based power and electric vehicle charging intelligence and analytics platform, raises €2.7 million in a pre-seed funding round to provide Energy Transition Insights for real estate and EV charging infrastructure sectors.
The funding round was 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.
Electrification Imperative:
An estimated $1.9 trillion will need to be invested in charging infrastructure to fulfill net-zero promises by 2050. Developers must actively search for and swiftly construct land where drivers demand charging and where local grid operators can meet high power needs, to implement this infrastructure at scale. Because there is an urgent need to electrify all areas where cars travel and reside on an unprecedented scale, real estate in these strategic locations will be in high demand.
Depending on the power requirements of various market players, Camion combines property and location-based data with insights regarding power supply, traffic patterns, and localized future energy demand to assist in identifying the optimal sites.
Due in part to their net zero pledges and the expanding everyday needs of their customers to light the buildings or charge their cars, real estate has an increasing electricity demand. Since many real estate and infrastructure investors are blind to the potential hazards and possibilities in the future, Camion fills a significant gap in the market by combining proprietary analytics with a wide range of crucial data.
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As commercial occupiers and drivers increasingly demand EV charging and electrification overall, properties that are not ready for this transition risk becoming stranded assets. Real estate owners and investors with the technology to comprehend the value of this infrastructure stand to gain billions in annual rental income and property appreciation. Landowners and infrastructure suppliers were unable to identify these important features before Camion since there was no single, centralized platform.
Electric Infrastructure Acceleration:
To help customers take advantage of the growing need for infrastructure for charging electric vehicles, the platform indexes properties according to their potential and readiness for electrification. It also offers robust insights. Camion assists lenders, infrastructure developers, real estate owners, and investors in discovering new properties primed for the energy transition and conducting swift due diligence.
As the energy transition insights quicken and property values are protected and enhanced, Camion’s platform assists in identifying the communities’ increasing needs for electricity while making access to this infrastructure non-negotiable. With Camion’s platform, real estate owners and infrastructure developers can install infrastructure at scale while avoiding risk to property value and unlocking and safeguarding trillions of opportunities.
Jacob Monroe, founder and CEO of Camion, stated:
“The shift towards electrification presents a significant opportunity for those who quickly grasp and implement electric vehicle charging infrastructure in the necessary locations. Electrified real estate stands ready to emerge as the next major asset class in the $50 trillion global commercial real estate market, as energy generation and demand continue to spread. Camion uses a combination of big data, machine learning, and deep industry knowledge to accelerate this once-in-a-century shift.”
Sandra Malmberg, partner at EQT Ventures, said:
“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. Without a doubt, the real estate sector is quickly approaching broad electrification, and Camion’s platform is facilitating this transition by removing obstacles in the path.”
