UgoWork Raises $22.8M in Funding

Shown above top left: Rami Jarjour, COO. Top right: Philippe Beauchamp, President and CEO. Bottom left: Frédérik Leclerc, Finance Director (CNW Group/UgoWork)

UgoWork, a Quèbec, Canada-based provider of flexible Energy as a Service (EaaS) solutions for industrial vehicles, raised $22.8M in funding.

The round was led by Fonds de solidarité FTQ, with participation from Export Development Canada (EDC), Desjardins Capital and Investissement Québec.

The company intends to us the funds to accelerate the development efforts of its software and artificial intelligence platform.

Led by CEO Philippe Beauchamp, UgoWork develops, manufactures, and offers energy expertise and innovative lithium-ion power solutions that unlock the possibilities of Energy as a Service for the material handling industry. The company leverages a cloud-based approach to fleet optimization, pay-per-use program, energy insight, continuous field service, uptime guarantee, and end-of-life management. Its products and energy solutions cater to industrial trucks operating in the food and beverage, manufacturing, transportation, and distribution sectors.