G2mobility designs, develops and sells complete smart-charging solutions essential to the roll-out of electric vehicles and the non-polluting transport system they will make possible. The management team found that Innovacom gave them not only the financial support they needed at a key stage in the company’s life but also a shared view of where the market was going and the transition towards sustainable growth.
G2mobility develops and markets recharging infrastructure for electric vehicles.
Founded in 2009
Invested in 2012
Founders : Pierre Clasquin, Lionel Causse, Martial Diaz.
Fundraising : 2013 et 2014 2,8M€
Fund : Technocom2
Jérôme (Innovacom): We were across the table from a smart team with a complete technological solution. But what we liked most was their long-term vision. Not only had they positioned themselves in a market that was destined to grow but they had done it by successfully taking on one of the weak points of electric vehicles, the ability to recharge when power is cheapest and least carbon-intensive. Starting from this shared vision, we got down to work to industrialise their solutions and roll them out for a bigger market.
Pierre Clasquin (G2mobility): Only five years ago, we were in a risky market. Polls showed that two-thirds of people did not believe in electric vehicles. You could have the best business plan in the world but was impossible to know how long it would be before the market took off. Still, we were convinced that energy and transport were poised for their own internet revolution. At Innovacom, we found partners who were thinking along the same lines. Two factors in their support were crucial for us. First, they were able to sign up for a medium/long term vision, resisting the temptation to look at the potential market as it currently stood: very few funds today offer support over long development cycles. Second, they were capable of understanding the technological issues underlying our business case, particularly on the convergence of different IT components (IT systems, smart grid, embedded software, etc.). It was because they were truly on top of these technical points that they understood the value of the project and were able to make the right connections in their own field and bring them to fruition. Finally, they brought a lot to the table when we sat down to define the company’s development strategy and started to execute it.
Following the company’s successful refocus in early 2014 on three big market segments (company vehicle fleets, public infrastructure and public/private car parks), the key priority now for G2mobility is commercial development. The company is aiming to become the leader in its sector and preparing a new fundraising that would allow it to start building significant market share in France and internationally.