Connected Kerb, a London-based electric vehicle infrastructure specialist, announced that it had secured an investment of up to £110 million (~$117 million) from Aviva Investors, Aviva’s global asset management business.
Connected Kerb will have installed over 4,000 chargers in 2022 alone, and the company plans to have 190,000 chargers installed by 2030.
As part of the deal, Connected Kerb will also deliver EV charging infrastructure across the insurer’s pan-European real estate portfolio, which includes over 300 major owned assets in the UK.
“We are pleased to support Connected Kerb’s ambitious rollout of EV charging infrastructure across the UK, a sector at the heart of the transition towards a low carbon future, said Sean McLachlan, Senior Director, Infrastructure, at Aviva Investors.
” The funding we are providing will help to speed up the provision of EV charging to homes and businesses alike, whilst increasing accessibility. We also look forward to working with a management team which has market-leading experience in building and operating public infrastructure and integrated smart networks, alongside excellent ESG credentials,” added Sean McLachlan.
Connected Kerb is also planning an expansion into the U.S., having recently been selected by the New York City Department of Transport and New lab to deliver an on-street EV charging pilot projects in New York that will provide a blueprint for the city to roll out 10,000 on-street chargers by 2030.
According to Mercom’s 1H and Q2 2022 Funding and M&A Report for Storage, Grid & Efficiency, VC funding in Smart Grid companies in 1H 2022 was 58% higher with $731 million compared to the $463 million raised in 1H 2021. Earlier this year, Monta, an EV charging management platform, secured €30 million (~$30 million) at a €155 million (~$155 million) valuation as a part of the Series A+ funding round led by Energize Ventures with participation from returning investors Creandum, Pale Blue Dot, byFounders, and Headline.