Inbalance Raises €1.5M in Post Seed Funding

Inbalance, a Vilnius, Lithuania-based company that develops and operates smart EV charging stations, raised €1.5m in post seed funding.

Two new private investors Tomas Dirvonskas and Paulius Šarka are joining existing investors Contrarian Ventures, Coinvest Capital, the co-founder of the first Lithuanian unicorn Vinted Mantas Mikuckas, and angel investor Ernestas Petkevičius.

The company intends to use the funds to accelerate the expansion of Its EV charging network, planning to install thousands of new stations.

Founded in 2019 and led by Simonas Stankus, CEO, Inbalance develops, manufactures, and operates smart electric car charging stations and is a charging network operator. Their solution focuses on the optimization of electricity consumption and helps meet the demand for electric vehicle charging without the need to change the existing power grid infrastructure.

Last year, the company completed the first funding round by raising €950k.