ReliON, a Montréal and Ottawa-based pioneering provider of O&M solutions for electric vehicle (EV) charging infrastructure, announced that it has raised a CAD $3 million funding round led by Diagram Ventures, with participation from MaRS Investment Accelerator Fund (IAF), AQC Capital, Anges Québec and Cycle Momentum.
ReliON’s end-to-end O&M) solution captures all the available EV charger(s) data, the environment, and the supporting infrastructure, enabling proactive monitoring and troubleshooting.
ReliON, the first company created out of Diagram Ventures’ new ClimateTech Fund, will use the $3M to accelerate its efforts to transform the landscape of EV charging infrastructure and make it more dependable. The need for reliable EV charging infrastructure has never been more critical, with 20% to 30% of chargers found to be inoperable at any given time.
The causes of these outages are diverse — ranging from software and hardware faults to vandalism, communication issues, and poor interoperability with vehicles — making the problems challenging to identify and diagnose in a rapidly evolving industry characterized by a fragmented supply chain. Despite industry-wide awareness and ongoing efforts to establish best practices and standards, there remains a significant need for a dedicated and comprehensive tool to streamline the diagnostics and repairs of EV charging infrastructure.
“ReliON’s innovative approach to enhancing the reliability of EV charging infrastructure aligns closely with our vision of supporting transformative technologies with the potential to drive positive impact,” said Paul Manias, Partner and co-head of the Diagram ClimateTech Fund. “As the first company incubated out of Diagram's ClimateTech fund, ReliON embodies our commitment to fostering innovation in climate-conscious industries.”
ReliON will use the newly secured capital to further develop its O&M platform and scale its operations to meet the growing demand for reliable EV charging solutions.
Filed Under: Charging, Technology News