WeaveGrid, a software company facilitating electric vehicle (EV) integration with the electric grid, has secured $28 million in funding led by Toyota’s growth fund, Woven Capital. Existing investors Activate Capital, Collab Fund, Emerson Collective, and Salesforce Ventures participated, with debt provided by HSBC Innovation Banking.
By leveraging WeaveGrid’s technology, automakers can ensure that the data from their software-defined EVs is handled securely while contributing to grid stability.
WeaveGrid’s EV Management System (EVMS) enables grid-integrated EV charging. It offers a variety of utility options, including vehicle-to-grid capabilities, artificial intelligence technology, and a patented approach to electric distribution optimization. This ensures EV drivers have access to clean, reliable, and cost-effective power for charging.
This investment strengthens WeaveGrid’s role as a provider of EV charging solutions, supporting more than 40% of EVs in the US.
With EV adoption accelerating, WeaveGrid is positioned to influence the future of electric transportation through advancements in energy and mobility software. The company is the only provider with more than a dozen official integrations with automakers and EV charging suppliers, offering robust and secure EV charging management solutions.
Filed Under: Charging, Technology News