ReliON closes a $3M financing round

MONTREAL — ReliON, a Montréal and Ottawa-based provider of Operation & Maintenance (O&M) solutions for EV charging infrastructure, announced it has raised a CAD $3 million funding round led by Diagram Ventures, with participation from MaRS Investment Accelerator Fund (IAF), AQC Capital, Anges Québec and Cycle Momentum.

ReliON, the first company created out of Diagram Ventures’ new ClimateTech Fund, will use the CAD $3M to accelerate its efforts to transform the landscape of EV charging infrastructure and make it more dependable.

The need for reliable EV charging infrastructure has never been more critical, with 20% to 30% of chargers found to be inoperable at any given time. The causes of these outages are diverse – ranging from software and hardware faults to vandalism, communication issues, and poor interoperability with vehicles – making the problems challenging to identify and diagnose in a rapidly evolving industry that is characterized by a fragmented supply chain. Despite industry-wide awareness and ongoing efforts to establish best practices and standards, there remains a significant need for a dedicated and comprehensive tool to streamline the diagnostics and repairs of EV charging infrastructure.

“ReliON is dedicated to ensuring the seamless operation of EV charging infrastructure, empowering businesses and individuals alike to embrace electric mobility with confidence,” said Benoit Lacroix, CEO and Co-founder of ReliON. “This latest round of funding enables us to expand our reach and firmly establish ourselves as the trusted partner for optimizing uptime and performance in the EV charging ecosystem.”

“ReliON’s innovative approach to enhancing the reliability of EV charging infrastructure aligns closely with our vision of supporting transformative technologies with the potential to drive positive impact,” said Paul Manias, Partner and Co-Head of the Diagram ClimateTech Fund. “As the first company incubated out of Diagram’s ClimateTech fund, ReliON embodies our commitment to fostering innovation in climate-conscious industries.”

ReliON will utilize the newly secured capital to further develop its O&M platform and scale its operations to meet growing demand for reliable EV charging solutions.