Commercial fleet electrification firm VEV has secured an unspecified amount of new investment in a funding round led by Jolt Capital, with Finland’s state-owned investment company Tesi joining as a co-investor.

VEV will use the new funds to support its expansion into new European markets including France, Germany and the Netherlands.

VEV offers a comprehensive package of fleet electrification services, including fleet strategy, charging and energy infrastructure, energy supply and operational services. The company currently serves some 6,000 commercial EVs across Europe, including more than 5,000 in the UK.

VEV’s system is built around VEV IQ, an intelligent charging and energy management platform that provides fleet operators with real-time visibility and control of vehicles, chargers and on-site energy assets through a single system. The platform is operational at more than 600 sites serving the transport, logistics and waste sectors.

“Technology has transformed how consumers manage energy—commercial transport is now at a similar inflection point,” said Clara Audry, General Partner at Jolt Capital. “As fleets electrify, the challenge lies in intelligently managing the flow of energy across vehicles, depots and power networks. VEV is one of the few European platforms bringing those capabilities together, already powering more than 20% of the UK heavy-fleet energy market.”

“For fleet operators, the challenge is no longer simply choosing electric vehicles. It’s about integrating infrastructure, energy and operations in a way that is reliable, cost-effective and scalable,” said Mike Nakrani, CEO of VEV.

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