Inbalance receives recognition from Lithuanian and international funds, secures €1.8 million investment

Inbalance company, which operates the electric vehicle charging network Inbalance grid and develops charging products, has successfully completed another investment round. Venture capital fund Coinvest Capital, international organisation EIT Urban Mobility, and several business angels invested over €1.8 million in the company. The raised funds will be used for technology development and service expansion.

This is not the first investment by Coinvest Capital and EIT Urban Mobility in the company, which operates one of the largest electric vehicle charging networks in the country. According to Inbalance CEO Simonas Stankus, the fact that existing investors are increasing their stake demonstrates their confidence in the company’s strategy and continued growth.

“This round marks another stage in the company’s growth and serves as confirmation that we are making decisions that investors believe in. In recent years, venture capital investments in startups in Lithuania and the region have declined due to the geopolitical situation and increased caution in capital deployment. Therefore, this investment is a signal to the market of Inbalance’s stability and reliability. Investors value the widely developed and actively used charging network in strategically important locations, as well as the steadily increasing utilisation of charging stations as the number of electric vehicles grows. Signed agreements for expansion to more than 100 new locations allow us to speak not only about achieved results, but also about a clearly planned further expansion. In addition, the company’s products – charging stations and management software – have already established their place in the market, and growing attention will be given to expanding these products internationally,” says S. Stankus.

EIT Urban Mobility (EIT UM) is an initiative of the European Institute of Innovation and Technology (EIT), a body of the European Union, that invests in the most promising mobility technology companies across Europe. The decision to invest in Inbalance was made by a team of experts who evaluated the company’s activities from various perspectives at different stages.

Another investment by the organisation in the company represents a significant sign of international recognition.

“Investments in startups developing sustainable mobility in Europe remain highly promising, and Inbalance’s activities reflect our core values. The company already holds a strong position in the market as one of the largest electric vehicle charging operators, while its clear expansion direction and the foundations already in place for further growth demonstrate significant growth potential. We are confident that a company demonstrating an innovative vision and a consistent strategy will make a meaningful contribution to the development of mobility and energy technologies in the region,” says Jan Hauser, Investment and Portfolio Manager at EIT Urban Mobility.

Viktorija Trimbel, CEO of Coinvest Capital, notes that through consistent expansion over several years, Inbalance has proven its potential and leadership in the market.

“We have been following Inbalance’s growth since the very first days of its operations. Over six years in the market, the company has demonstrated resilience in both favourable and challenging conditions. We continue to monitor its development, believe in it, and support it. The company’s chosen strategy and its ability to execute it, along with innovative market solutions, have helped it prepare for a new stage in the sector: the number of electric vehicles in the region will inevitably begin to grow rapidly, and the company is already prepared for this today. It is clear that the vision of both domestic and international investors is fully aligned in this case,” says the CEO of Coinvest Capital.

Inbalance’s business model includes one of the biggest public electric vehicle charging station networks in the country – Inbalance grid. The company also develops and offers charging technologies, from hardware stations to management software. Inbalance operates not only in Lithuania but is also actively expanding in Poland, Latvia, and Estonia.

“The raised capital will primarily be allocated to technology development, product improvement, sales growth, strengthening internal processes, and further market share expansion. This will enable the company to develop and introduce new products and functionalities to the market,” says S. Stankus.

Founded in 2019, the company raised its first venture round after its first year of operations. Prior to the latest investment round, venture capital funds had already invested €6 million. Its investors also include Contrarian Ventures, Aneli Capital (formerly Verslo angelų fondas), as well as business angels.

Meanwhile, the expansion of the charging network is financed not through venture capital investments but through other infrastructure-focused financing instruments. For example, at the beginning of last year, the electric vehicle charging network operator successfully issued a €2 million bond offering, which is currently being redeemed.

This bond issue attracted interest from both private and institutional investors and was oversubscribed by 1.7 times. The raised funds were allocated to the installation of fast-charging points at 13 strategically important locations in Lithuania. The company plans to continue expanding its charging network in Lithuania and abroad in 2026 as well.

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About Inbalance

Inbalance is one of the largest electric vehicle (EV) charging infrastructure operators and charging technology developers in the Baltics and Central-Eastern Europe, managing more than 3,000 charging points. The company offers end-to-end charging solutions, including charging stations, software, and 24/7 operations. Inbalance collaborates with major retail chains, real estate developers, asset managers, mobility service providers, and public sector organizations. The company is recognized for its innovative power balancing, optimization, network management, and system integration technologies, which allow it to meet current charging demands while developing new services.

 

About Coinvest Capital

Coinvest Capital is a sovereign venture capital fund established by the national development bank ILTE. The fund invests public funds of EU and Republic of Lithuania, alongside private investors, in promising European start-ups that create value for Lithuania. Since its inception, the Fund, together with its partners, has invested in 51 startups and exited 7 of those investments. The total value of coinvestments exceeds € 61.3 million, of which €26.2 million was contributed by Coinvest Capital. Under the profit-sharing model, private co-investors have contributed €13.2 million, while an additional €21.8 million has been invested under the pari-passu model.

The Fund offers a unique global profit-sharing program, capping its annual investment return at 4 to 8 percent. In the event of a successful exit, any return exceeding this cap is allocated to accredited private co-investors. Out of the €44.3 million in committed capital entrusted to the Fund, €11.8 million of dry powder remains available for new investments.