29 June 2023, San Francisco / The electric vehicle (EV) ecosystem’s exclusive payment platform, Bluedot, has concluded another successful investment round, garnering USD 5 million to improve and grow its EV driver app and card as well as fleet charging management.
With fresh funding from leading companies like Y Combinator, Leap Forward, Samsara Ventures, Operator Stack, LACI Impact Fund, Ford Driventure, ScaleX, as well as angel investors from Plaid, Stripe, and Moonpay, Bluedot is ready to expand on its ground-breaking initiatives to promote EV adoption and support a sustainable future by simplifying charging payments and streamlining expense management.
The growing momentum of Bluedot is in line with national initiatives to hasten the switch to electric, emission-free transportation. The United States sells 5% of new cars each year, but the Biden administration has set the audacious aim of boosting the market share of EVs to 50% by 2030. The federal government is spending money to construct 500,000 new public charging stations in an effort to promote the use of EVs.
But charging is still a big obstacle. For charging, drivers frequently have to handle various apps and cards, which hinders accessibility—especially for fleet drivers. Additionally, tracking charging habits and expenses is challenging, which results in inefficiencies across the board. The complexity of charging fee reimbursement, especially when home charging is involved, makes the problem worse.
The two founders of Bluedot, Ferhat Babacan and Selinay Parlak, recognised a chance to solve the problems fleets and users of electric vehicles have with charging. Their goal was to develop an easy-to-use gasoline card system that was comparable to Wex but solely aimed towards EV charging and driving.
“From our experience installing charging stations and researching the EV user experience, we knew it was a hassle for individuals to use five different mobile apps for charging—or for fleet managers to use multiple dashboards and prepaid cards to handle fleet charging,” said Babacan, CEO of Bluedot. Therefore, we set out to streamline the entire procedure.
With the current funding, Bluedot intends to add sophisticated capabilities to its mobile application and dashboard, including route optimization and home charging reimbursement. Both fleets and drivers will benefit from these improvements. Bluedot wants to play a crucial part in boosting the use of EV setting networks and establish itself as a significant player in this changing market.
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