# FLO Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/flo-services

- Industry: Energy Storage & Batteries
- Headquarters: Canada
- Website: www.flo.com
- Total disclosed funding: $99M
- Latest round: Series E (Jun 11, 2024)
- Investors on record: 8

## About

Based in Quebec, Canada, FLO Services Inc. specializes in electric vehicle (EV) charging solutions for residential and commercial markets, aiming to enhance accessibility and convenience of EV infrastructure across North America.Founded in 2009, FLO Services Inc. is dedicated to providing electric vehicle charging solutions. The company's headquarters are located in Quebec, Canada. The founders, Dmitry Gurski and Sarah Hobbs, initiated the venture to address the growing demand for EV infrastructure. As of June 2024, FLO has successfully raised CAD 136 million in Series E funding, led by Export Development Canada, contributing to a total amount raised of CAD 136 million. The company has completed 6 deals in total.FLO specializes in the design, manufacturing, and deployment of electric vehicle (EV) charging solutions tailored to both residential and commercial markets across the United States and Canada. The company’s flagship products include the FLO Home® charging station, the CoRe+™ series, SmartTWO™ series, and FLO Ultra™ fast chargers, which are engineered to provide efficient and reliable charging in various environments. These products facilitate convenient charging for individual consumers, businesses, municipalities, and fleets, addressing the growing demand for accessible EV infrastructure. By offering a comprehensive suite of charging solutions, FLO serves a diverse clientele, including auto dealerships, hospitality venues, and municipal organizations in regions such as New York, Colorado, and California. The company emphasizes user experience through its advanced mobile app, which allows customers to locate charging stations, manage their charging schedules, and access support services seamlessly.FLO's revenue generation primarily stems from the sale of its EV charging hardware and software solutions, along with ongoing service agreements that support installation and maintenance. The transaction structure includes direct sales to end consumers and partnerships with businesses and municipalities, enabling a comprehensive B2B and B2C approach. For instance, residential customers can purchase FLO Home® chargers while commercial clients may opt for bulk orders of the CoRe+™ series for installation across multiple locations. The pricing plans are structured to accommodate various customer needs, with options available for installation services, ensuring that clients receive tailored solutions. Additionally, FLO provides various incentives and rebates that enhance the attractiveness of its offerings to potential users, thereby fostering increased adoption of EV charging infrastructure.In June 2024, FLO Services Inc. raised CAD 136 million in Series E funding, led by returning investor Export Development Canada, with participation from other investors including CDPQ, Investissement Québec, BDC Capital, Energy Impact Partners, and MKB. The company plans to utilize this funding to support the expansion of its charging network. Future initiatives include launching new charging products and targeting expansion into additional markets throughout the United States and Canada, though specific regions and product launch dates have not been disclosed.

## Funding rounds

- Series E, Jun 11, 2024, $99M — BDC Capital, Export Development Canada, Investment Quebec, MKB, Energy Impact Partners, La Caisse
- Series C, Feb 16, 2021 — Energy Impact Partners
- Series C, Oct 30, 2020 — BDC Capital, CDPQ, Export Development Canada, Investment Quebec, MKB, Fonds de solidarité FTQ Investissements

## Investors

- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series C, Series E
- CDPQ — Series C
- Export Development Canada — Series C, Series E
- Investment Quebec (https://capitalatlas.ai/funds/investment-quebec) — Series C, Series E
- MKB (https://capitalatlas.ai/funds/mkb) — Series C, Series E
- Fonds de solidarité FTQ Investissements — Series C
- Energy Impact Partners (https://capitalatlas.ai/funds/energy-impact-partners) — Series C, Series E
- La Caisse (https://capitalatlas.ai/funds/la-caisse) — Series E