AKRON – Goodyear, through its Goodyear Ventures capital arm, has bought a share of NAD Grid Corp. — better known as AmpUp — a supplier of electric-vehicle (EV) charging network and software solutions.
Founded in 2018 and with operations across North America, AmpUp provides "smart" EV charging systems that enable managing multiple charge stations and locations in one platform.
"Goodyear is interested in enabling the future of mobility, including within the EV sector," Abhijit Ganguly, managing director, Goodyear Ventures, said.
AmpUp, he said, will provide "valuable insights" on electrification trends and will bring its solutions to Goodyear's fleet customers who are considering electrification.
Neither Goodyear nor AmpUp disclosed terms of the investment.
In a separate statement, Cupertino, Calif.-based AmpUp said it also has secured capital from Foothill Ventures, and TechNexus Venture Collaborative, less than a year from its initial seed raise.
AmpUp said it plans to use the new capital to scale operational and technical capabilities to meet growing sales demand.
The company was formed by "nomad" electric vehicle drivers looking to solve a problem that many others experience: owning electric cars without home charging capabilities.