“Civinity”, one of the largest building maintenance and engineering solutions groups in the Baltic states, has become a new investor in the electric vehicle charging start-up “Inbalance grid”, investing EUR 1.3 million in the company’s development together with other market players.
Inbalance grid, a start-up with more than 300 public charging points for electric vehicles across the country, has successfully completed an additional round of investment raising EUR 1.3 million. “Civinity”, which started a strategic partnership with the start-up a year ago, has become one of “Inbalance grid” new investors, contributing to the financing of the company’s expansion.
“Smart solutions for buildings and the environment are not a far-fetched fantasy – they are a necessity without which we cannot imagine a modern city. For years, “Civinity” has consistently invested both in the implementation of new solutions in the buildings it manages and in the teams that develop them,” comments David Jacka, Chairman and Head of “Civinity” group. “We have been developing a strategic partnership with the “Inbalance grid” team for some time now, not only expanding the infrastructure of the facilities we maintain with charging stations, but also laying the groundwork for the wider electrification of our group’s fleet. We are therefore delighted to become one of the investors in “Inbalance grid” and to support the rapidly growing network of charging stations in Lithuania and across the region.”
“Inbalance grid” develops smart charging solutions for electric vehicles and operates one of the most comprehensive electric vehicle charging networks in Lithuania. The company’s IoT-based technology solution allows it to optimise electricity consumption and meet the growing demand for electricity without changing the existing electricity infrastructure. The internationally acclaimed minimalist design of the stops ensures that the charging stations fit in the city, are aesthetically pleasing and do not create additional visual pollution.