WeaveGrid Secures $28 Million to Power Up EV Integration

WeaveGrid, a software company streamlining the integration of electric vehicles (EVs) with the power grid, has secured $28 million in funding. This investment, led by Woven Capital (Toyota’s growth fund focused on the future of mobility), underscores WeaveGrid’s position as a key player in accelerating EV adoption while maintaining grid stability. Existing investors Activate Capital, Collab Fund, Emerson Collective, and Salesforce Ventures also participated, with debt financing from HSBC Innovation Banking.

This funding strengthens WeaveGrid’s role as a vital partner for automakers navigating the complexities of EV integration. Their platform provides a secure way to manage data from software-defined EVs, optimizing charging for drivers and ensuring grid health.

A Collaborative Effort for Grid-Friendly EVs

“Toyota is a crucial collaborator,” says Apoorv Bhargava, WeaveGrid’s CEO. “We’re tackling a major challenge: ensuring grid reliability by making EVs grid-friendly. Together, we’re not just selling more EVs; we’re building a sustainable energy future. We aim to boost EV adoption through a great driver experience and equip utilities with the necessary grid management tools. This investment will expand our platform, accelerate R&D, and strengthen partnerships with automakers and utilities.“

Nicole LeBlanc, a partner at Woven Capital (which manages nearly $800 million invested in mobility startups, from connected cities to smart vehicles), shares this vision. “The auto industry is focused on optimizing charging for everyone—drivers and the grid,” she explains. “WeaveGrid’s technology benefits all stakeholders, especially automakers like Toyota. It also contributes to a more sustainable and efficient mobility ecosystem. We’re particularly impressed by WeaveGrid’s automotive expertise and their partnerships with major US utilities.”

WeaveGrid’s Technology: A Closer Look

WeaveGrid’s EV Management System (EVMS) powers their grid-integrated EV charging solution. It provides utilities with a powerful toolkit, including vehicle-to-grid (V2G) capabilities (allowing EVs to feed energy back into the grid), AI-driven insights, and a patented approach to optimizing electric distribution. This is especially important as electrification and the growth of AI data centers increase demand on the grid. WeaveGrid’s market-leading managed charging platform enhances the charging experience for EV drivers while simultaneously ensuring grid stability.

As a result, EV drivers can charge with confidence, knowing they are using clean, reliable, and cost-effective power. WeaveGrid’s security measures also protect driver data. With over a dozen integrations with automotive brands and EV charging suppliers, WeaveGrid is a leader in secure EV charging management, currently supporting utilities serving over 40% of US EVs.

_{Source: WeaveGrid}