Kwetta, a New Zealand-based startup specializing in electric vehicle (EV) charging technology, has secured $15.8 million in a Series A funding round led by Blackbird. The company plans to use the funds to enhance its grid optimization capabilities and expand into the European market, focusing on powering electric buses and trucks. Founded in 2021, Kwetta has developed an ultra-fast charging platform called the Prime Grid Gateway.
The company’s goal is to make EV charging more cost-effective and efficient by solving grid constraints. Kwetta’s 30-member team, with offices in Napier, New Zealand, and Brisbane, Australia, has already made significant progress in its home market. Dustin Murdock, CEO of Kwetta, expressed his enthusiasm about the investment, stating, “This funding will enable us to double down on our world-leading tech advantage, scale faster, and pursue opportunities in markets with significant demand for grid-optimised EV solutions.”
The Series A funding round also included investments from Virescent Ventures, Icehouse Ventures, and existing investors.
Kwetta secures $15.8m for expansion
This new funding follows the support of Z Energy, New Zealand’s largest fuel retailer, which backed Kwetta in 2023. The partnership with Z Energy led to the rollout of the first chargers capable of delivering up to 200kW of power in a pilot program.
Kwetta has quickly established a strong presence in New Zealand, with 39 charging outlets across the country. The company now plans to expand into Australia and Europe, targeting the growing demand for fast-charging infrastructure in the public and commercial transportation sectors. James Palmer from Blackbird highlighted Kwetta’s unique approach, saying, “With early evidence that buses and trucks are flipping to EV, we think this is a winning strategy and positions them for category leadership in the most valuable segment of the market.
The team’s rapid execution from concept to 39 charging bays in just 2.5 years is impressive.”
The successful funding round and strategic partnerships position Kwetta as a leading player in the fast-growing EV charging market. As the world continues to shift towards electric transportation, Kwetta’s innovative technology and grid-first approach could play a crucial role in facilitating the transition to a more sustainable future.
