Lithuania-based Inbalance Grid is an EV charging-as-a-service platform, that developed a cost-effective multi-socket EV charging station (with its proprietary – network capacity/ electricity mgmt. & payment – software integrated with third-party hardware) primarily tailored for residential housing blocks, shopping malls & parking operators. The startup currently has around 350 charging points in Lithuania, with local partners such as IKI (supermarket chain), Ozas (shopping mall), Maxima Group (retailer), Eika (real estate developer) & Darnu Group (property mgmt). In doing so, Inbalance Grid primarily competes with eMobility International AD, which through its subsidiary Spark (LT) – owns 157 charging stations in Vilnus – & through its subsidiary Eldrive (BG) – owns >100 charging stations in Lithuania (as well as <500 in Bulgaria & Romania). Of course, one can’t ignore the state-owned network Ignitis On (~100 charging stations in Lithuania) (a subsidiary of Ignitis Group – the largest supplier of electricity & gas in Lithuania –, which, interestingly enough, is also an investor in Inbalance Grid via its Smart Energy Fund managed by Contrarian Ventures). The new funding will go towards installing an additional 600 public charging stations in Lithuania this year, as well as expanding to Latvia, Estonia & Poland. Inbalance Grid was founded in 2019 by Simonas Stankus (CEO), Nerijus Siaulys (CTO) & Aurimas Pauga (CIO). <Source: startuplithuania.com, ain.capital>
