EO Charging, a British electric vehicle charging solutions company, secured $80 million in equity funding from Vortex Energy and Zouk Capital.
Founded in 2014, the company focuses on charging solutions for electric cars, vans, trucks, and bus fleets, helping customers transition to zero-emission transportation at scale.
Over the past three years, EO has distributed over 80,000 chargers to customers and businesses worldwide. The company’s clients include Amazon, DHL, Go-Ahead, and Tesco.
Last year, EO launched its latest generation of EV chargers, the EO Genius 2 and EO Mini Pro 3. Most recently, it has created a new multi-source financing and services platform, Mobilite, to help fleets accelerate their EV adoption through a fixed-price as-a-service solution.
“The combined knowledge, international experience, and funding capacity will accelerate our growth, expand geographic reach, and drive innovation to deliver an ever-advancing suite of solutions to our customers not only in the UK and Europe but in fast-growing markets like North America,” said Charlie Jardine, Founder, and CEO of EO Charging.
“The transition to electric vehicles remains one of the most pressing challenges of our generation. Businesses everywhere are under pressure to move to a zero-emission fleet fast and require innovative solutions and trusted suppliers. I’m confident EO is in a strong position for 2023 and beyond,” Jardine added.
According to Mercom’s Annual And Q4 2022 Funding and M&A Report for Storage, Grid & Efficiency. Smart grid companies raised $3.3 billion in VC funding in 46 deals in 2022, a 175% increase compared to $1.2 billion raised in 35 deals in 2021.
AMPECO, a software platform for electric vehicle (EV) charging providers, recently raised a total of $16 million in venture capital investment after closing a Series A funding round of $13 million led by BMW i Ventures.