London-based ev charging software platform ev.energy has raised $33 million in a Series B funding round. The investment was led by National Grid Partners with Aviva Ventures, WEX Venture Capital, InMotion Ventures participating alongside renewed support from existing investors Energy Impact Partners, Future Energy Ventures and ArcTern Ventures.
According to the company, the capital will be used to expand its reach in North America and Europe, in particular by providing ev.energy access to an additional 400 million energy customers by leveraging investors’ energy retail, fleet, vehicle, and insurance networks.
In light of UK PM Rishi Sunak backing away from the ban on petrol cars slated to take effect in 2030 announced to much fanfare by his predecessor, ev.energy’s services across the UK seem particularly relevant.
"As more EVs come online, optimized charging and load maintenance will remain critical tools for ensuring grid stability," commented ev.energy CEO Nick Woolley. "By being able to shape and control EV load, ev.energy can both benefit the grid and help drivers to charge using the greenest and cheapest energy.”
Launched in 2018, today the company’s ev charging software platform manages charging for more than 120,000 EVs across North America and the UK daily, opting to supply power to the vehicles at grid-friendly times.
The company has won over 30 national, regional, and municipal utility contracts and counts National Grid, Volkswagen Group, Maxeon, and Siemens amongst its partner list.
“This announcement is a significant milestone in ev.energy’s mission to support the electrification and decarbonisation of transport and energy,” added Woolley. “Every person at ev.energy wakes up each day wanting to play our part, and we’re delighted to get this vote of confidence to help expand our mission.”