Vontier acquired the Israeli Driivz
9 February, 2022
Driivz Developed a software platform for managing EV charging stations, currently installed in around 100,000 points
Vontier, a U.S-based corporation focused on smart transportation and mobility solutions, aquired the israeli Driivz, a provider an EV charging management software platform for EV charging operations, energy management, advanced billing capabilities and driver self-service tool. Pursuant to the transaction, Driivz will continue to be run as an independent company , a wholly owned subsidiary of Vontier and managed by founder and CEO Doron Frenkel. Since its establishment in 2013, Drives has raised about $ 33 million from industrial entities, including the energy company Centrica and Volvo. The relationships with Vontier started early in 2020 with the first investment of the corporation in Driivz.
Mark Morelli, President and CEO of Vontier say the acquisition is intended to accelerate the company’s portfolio diversification in the EV market. “Vontier believes the next decade could bring the most significant changes to global mobility since the invention of the automobile. The acquisition is part of our strategic goal to be a complete solution provider for the smart EV market, and therefore we commit that during the five next years we will invest more than $500 million in crafting these solutions”.
According to Morelli, Driivz Company provides a hardware agnostic, cutting edge software technology in the world of EVCI (Electric Vehicle Charging Infrastructure). Driivz’s platform includes tools for management of the charging grids’ operational system, billing, drivers’ interfaces, EV fleet management and charging in commercial and condos. Among the prominent clients of the company are Centrica, EVgo, Volvo Group and eMobility Power. The platform currently serves about 800,000 users in 20 countries. It manages about 100,000 charging stations that are based on a variety of 500 hardware systems. The company employs 70 employees in Israel, Europe and the USA and is going to add 30 more employees by the end of the year.