The electric vehicle (EV) revolution is reshaping energy infrastructure, transforming charging points into a software-led energy platform. This shift reflects a broader rethink of the EV charging business model, with early players focusing on hardware deployment, often subsidized by VC funding. However, low uptake rates and high upfront costs have pushed companies to seek more predictable, software-driven revenue streams, such as energy optimization and subscription-based charging.
AMP IT, a Geneva-based EV charging developer, is at the forefront of this evolution. Founded in 2021, the company offers a turnkey subscription for commercial and residential use, combining smart-charging infrastructure with intelligent software control. This hybrid approach sets AMP IT apart from competitors, allowing them to control the entire value chain and provide a high quality of service.
The company's early funding was primarily driven by impact-driven family office investors, with the most recent round backed by the Swiss Technology Fund. AMP IT's model is particularly attractive in private charging, where uptake is easier to predict, and the company has seen double-to-triple-digit annual revenue growth since its inception.
Looking ahead, AMP IT is targeting international markets, particularly the Nordics and emerging markets in Eastern and Southern Europe, where EV numbers are growing explosively. Switzerland remains a core part of their growth strategy, with a 3x year-on-year increase in energy delivered and more than tripled deployed infrastructure since 2023.
The growth of EVs is a 'yes or yes' question, according to AMP IT co-founders Florian Mounayer and Ilya Tyuvildin. The use of electric cars will only continue to skyrocket around the world, driven by sustainability and rising costs of living. As oil prices continue to rise, people want low maintenance on their cars and the cheapest possible charging rates.
However, the model isn't without challenges. Private charging infrastructure typically scales more slowly than public networks, requiring close coordination with property owners, developers, and energy providers. Despite these challenges, the future of EV charging looks bright, with AMP IT at the forefront of this exciting new era.
