- ABB’s E-mobility division strengthens global leadership with investment in startup GO TO-U
- The Techstars alumni startup develops and offers a unique digital experience platform for e-mobility, targeting among others retail and hospitality sectors
- The venture investment was transacted by ABB EL Ventures and ABB Technology Ventures (ATV), further enlarging the strategic venture portfolio of ABB and the E-mobility division
As part of its strategy to drive broader adoption of EVs around the world, ABB’s E-mobility business has announced its investment in Los Angeles-based startup GO TO-U. Founded in 2017, GO TO-U is driven by the mission to reduce carbon emissions by facilitating the adoption of electric vehicles (EV). It puts users at the center of its software solutions for EV charging management and operations to create a seamless experience for charger operators and drivers.
GO TO-U is a unique digital experience platform for e-mobility, targeting among others retail and hospitality sectors. Its software solution enables EV drivers to go further, by providing reservations on available chargers, and access to facilities and services while charging, including booking and billing. This is the first equity round of the company, which is led by ABB EL Ventures and ABB Technology Ventures. The company is also supported by Techstars.
ABB is the global leader in e-mobility solutions, offering a comprehensive portfolio from compact, high-quality AC wallboxes, reliable DC fast charging stations with robust connectivity, to innovative on-demand electric bus charging systems.
“Not only is this amazing technology that will transform the customer experience, but GO TO-U’s philosophy is totally aligned with our business objectives to support greater adoption of e-mobility solutions. This investment brings an opportunity to advance the experience of our customers. Its software creates hassle-free management for both operators of EV charging stations and EV drivers,” comments Frank Muehlon, President of ABB’s E-mobility division.
“We are delighted to work with ABB to accelerate transport decarbonization by making the experience of driving and charging an electric vehicle simpler, more comfortable and more accessible. GO TO-U software can be bundled with the ABB hardware equipment to deliver the best experience to its customers,” comments Nazar Shymone-Davyda, co-founder and Chief Executive Officer at GO TO-U.
Both parties are committed to interoperability. GO TO-U will remain a hardware agnostic platform, compatible with hardware from the top-manufacturers. The financing will support commercialization of GO TO-U software technology and further product development and the solution will be available worldwide.
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. For more information, please visit www.abb.com
About ABB EL Ventures
ABB EL Ventures is the venture arm of ABB’s Electrification Business Area. ABB EL Ventures closely collaborates with the Electrification divisions to help them achieve strategic goals through driving the ideation, scouting, assessment and execution phases of the made-to-measure start-up engagements. ABB EL Ventures was established in 2020 and has mandate to invest $20 million each year.
About ABB Technology Ventures
ABB Technology Ventures (ATV) is the venture capital unit of ABB (NYSE: ABB). ATV looks for breakthrough technology companies aligned with ABB’s goal to write the future of industrial digitalization. Since its formation in 2009, ATV has deployed around $250 million into startups spanning a range of sectors including robotics, industrial IoT, AI/machine learning, cybersecurity, electric mobility, smart buildings and distributed energy.
About GO TO-U
GO TO-U is a platform for EV charging management and operations, which brings a seamless EV charging experience with comfort, confidence and simplicity. GO TO-U offers unique reservation features, allowing drivers of electric vehicles to book EV charging stations in advance together with access to facilities and services while charging. GO TO-U increases traffic to charging locations providing a boost to customer experience and loyalty. For more information, please visit www.go-tou.com