Chargemaster, a Luton, United Kingdom-based provider of electric vehicle charging infrastructure, raised £3m in funding.
Beringea, the growth capital investor that manages the ProVen Venture Capital Trusts, made the investment.
The company intends to use the funds to strengthen its position in the UK market and fund expansion into the European EV charging market.
Founded in 2008 and led by David Martell, CEO, Chargemaster has become a large supplier of EV equipment and infrastructure in the UK with more than 10,000 public and commercial charging points installed across the country. Its EV charging units can be wall mounted, placed on street-side posts or built to specific customer requirements. Its stations are installed in both domestic and public places.
The company, which also has over 4,000 charging points installed in Europe, has developed a number of strategic partnerships with energy providers, vehicle manufacturers, government agencies, property development companies and leading blue chip companies.
FinSMEs
14/07/2014