Shell agrees to purchase ubitricity
BERLIN, January 25, 2021 - Shell has signed an agreement to acquire 100% of ubitricity, a leading provider of smart charging and billing solutions for electromobility.
With the acquisition of all shares in the company, IBB Ventures realizes the full exit of its investment. IBB Ventures recognized the potential of the technology at a very early stage and invested in ubitricity in 2013. Stephan Schulze, Investment Director at IBB Ventures, commented: "We are very pleased that a strong partner for the further expansion of the company has been found in Shell and are pleased that we have been able to accompany ubitricity to this day.
Subject to antitrust approval, ubitricity will become a 100% subsidiary of Shell. For more details, see the official press release at www.ubitricity.com .
About IBB Ventures
IBB Ventures (www.ibbventures.de) has been providing venture capital to innovative Berlin-based companies since 1997 and has established itself as the market leader in early stage financing in Berlin. The funds are primarily used for the development and market launch of innovative products or services as well as for business concepts in the creative industries. Currently, two funds with a total volume of EUR 100 million are in the investment phase. Both VC funds are financed by funds from Investitionsbank Berlin (IBB) and the European Regional Development Fund (ERDF), managed by the State of Berlin. IBB Ventures has already invested in more than 210 Berlin-based creative and technology companies; in consortia with partners, the startups received approximately EUR 1.52 billion, of which IBB Ventures invested EUR 217 million as lead, co-lead or co-investor. IBB Ventures is the umbrella brand for the VC activities of IBB Beteiligungsgesellschaft.
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