Polish VC funds back Volteum as fleet electrification gathers pace

Volteum, a company with offices in Hungary and the United Kingdom that is developing a platform for managing electric and hybrid vehicle fleets, has raised EUR 3.25 million (PLN 13.9 million). The investors include two Polish funds, Movens Capital and Montis VC. The funding will support further expansion.

Movens Capital has focused on companies whose business and market position are not dependent on moves by the biggest global technology players, which could significantly alter the competitive landscape. Through its second fund, which has been operating for more than a year, it has invested in nine companies, although not all of those investments have yet been announced. The portfolio includes both Polish technology companies and foreign businesses. All of them, however, are expanding internationally.

As its ninth investment, the fund added Volteum, a company originally from Hungary that also operates in the British market, to its portfolio. The company is developing a platform for managing electric and hybrid vehicle fleets.

Movens Capital leads Volteum funding round

The company has closed a EUR 3.25 million (PLN 13.9 million) funding round led by Movens Capital. The fund signed the investment agreement in June 2026, while Polish investor Montis VC joined the round in July. The financing was also backed by WakeUp Capital and Aidiom, as well as Volteum’s existing investors: Day One Capital, Techstars and Nesprit.

The new capital will be used to further expand Volteum in the United Kingdom, the Benelux countries, the DACH region and Central and Eastern Europe, including Poland. Earlier, the startup raised EUR 1.25 million (PLN 5.3 million) in a pre-seed round.

AI and electrification converge in a single solution

Volteum, according to representatives of the fund, fits squarely within Movens Capital’s investment focus.

“On the one hand, we focus on artificial intelligence; on the other, electrification and the energy transition are becoming increasingly important investment areas for us. Volteum brings these two strands together by building an operating system for fleets – fom planning the transition and investments to managing vehicles, charging, maintenance and costs.

“As part of our investment analysis, we spoke with many of Volteum’s customers in the United Kingdom and other Western European countries. Their feedback was consistent: this is the only solution that addresses fleet managers’ real-world challenges comprehensively, rather than solving just one piece of the puzzle. For fleets of several hundred to several thousand vehicles, electrification is a multiyear logistical and investment operation, not simply a matter of replacing cars.

“Over the next five to seven years, more than 10 million vehicles belonging to large European fleets will undergo electrification. The market for solutions of this kind could reach around EUR 1.2 billion (PLN 5.1 billion) in recurring annual revenue. We believe Volteum can become the company that defines this category in Europe. Its algorithms already draw on more than 3 billion operational data points, enabling it to help customers cut costs by as much as 30 percent,” says Artur Banach, a partner at Movens Capital.

Volteum is an Irish company founded by Hungarian entrepreneurs. Its main market is the United Kingdom, where it works with companies including Royal Mail, Bolt, Lex Autolease, Schneider Electric and NG Bailey. From there, it is expanding across Western and Central and Eastern Europe, including Poland. The company is backed by investors from across Europe as well as Techstars.

The company’s offering is aimed at fleet managers, including those in the logistics sector, as well as companies involved in car leasing and rental.

Volteum integrates data across the entire fleet

“Our goal is not to force fleet managers to electrify their entire fleets, but rather to give them the insight and tools they need to make the most cost-effective decisions. This funding round puts us in a strong position to expand our work with fleet managers who need genuine data transparency,” explains Zsófia Tóth, co-founder and chief executive officer of Volteum.

Montis VC: potential in the energy transition

Industrial and energy-sector technologies are at the heart of Montis VC’s investment strategy. The fund is backed, among others, by the European Investment Fund (EIF) under the REPowerEU initiative.

One area where the fund’s management team sees significant potential is fleet electrification. According to Michał Gawęda, a partner at Montis VC, Volteum stands out from its competitors because it can manage mixed fleets comprising both electric and combustion-engine vehicles.

“Until now, the market has largely been divided between solutions for fleets made up exclusively of electric vehicles and those designed solely for combustion-engine vehicles. But reality is no longer that binary,” says Michał Gawęda, a partner at Montis VC.

The company’s performance also points to the investment’s potential. Gawęda says he first met Volteum’s founders at the beginning of this year. Since then, the company has recorded rapid revenue growth and continues to expand quickly.

When looking for investment opportunities, Montis VC focuses primarily on Central Europe. Poland remains one of the fund’s key markets and, Gawęda expects, will account for the largest number of its investments.

In his view, an increasing number of high-quality energy-sector projects are emerging in Poland. As an example, he points to Pstryk, in which Montis VC invested at roughly the same time as it invested in Volteum.

Technology a key factor for the investor

According to Faye Walsh Drouillard, managing partner at WakeUp Capital, the decision to invest was driven in part by Volteum’s proven technology and strong product focus. She noted that in prestigious tenders for electric vehicle fleet charging, Volteum is outperforming established players in the market. In her view, this is particularly important in the complex and rapidly growing electric fleet management segment.

WakeUp Capital intends to support the company both in further developing its product and in accelerating its commercial growth, so that fleet operators across Europe can use the energy transition to build an operational advantage.

Movens expands its reach while staying close to Poland

Artur Banach of Movens Capital says the fund focuses primarily on companies with the potential to become leaders in their categories at the European or global level. Movens has already invested in Czechia, Hungary, Ukraine and Lithuania, but Poland remains its main investment market.

Banach stresses that expanding geographically is primarily intended to increase the pool of potential investment opportunities. The vast majority of the fund’s portfolio, however, will continue to be built around Polish companies.

“Regardless of where a company comes from, one of the key criteria in our assessment is its ability to defend its position against competitors, particularly global technology players. We avoid businesses whose model, product assumptions or technology could easily be undermined by a larger competitor. The aim is to ensure that a single move by a global player cannot materially destabilize a startup’s business, let alone cause it to lose its market position,” Banach adds.

The investor reveals that Movens Capital is currently finalizing its 10th investment through its second fund. Its portfolio already includes Replenit, BeeSpeaker, Sun.store, Cargofy, Grid.online and AI Clearing, among others.

Movens Capital’s first fund began investing in 2020 and completed a total of 20 investments. That fund has now reached the end of its investment period.

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Key Takeaways

1. Volteum raises EUR 3.25 million (PLN 13.9 million) to fund further expansion.
   Movens Capital led the round, with Montis VC also participating. The startup plans to use the funding to expand in the United Kingdom, the Benelux countries, the DACH region and Central and Eastern Europe.
2. Movens Capital is looking for companies that can defend their position against global competitors. The fund also invests outside Poland, but the country remains its main market. It is currently finalizing its 10th investment through its second fund.
3. Movens Capital is looking for companies that can defend their position against global competitors. The fund also invests outside Poland, but the country remains its main market. It is currently finalizing its 10th investment through its second fund.