EV home charging company Evios has secured £5.8m in external investment within weeks of launching, enabling it to advance its plans to become the leader in its market sector.  

David Martell, founder and CEO of Evios, said the company will become the UK’s largest EV home charge provider by 2025

The company was launched in late April by David Martell, founder and former CEO of Chargemaster, and within two weeks it had secured its initial funding target while funding has now closed with £5.8m raised.   

The majority of the funds to fuel the company’s ambitious plans for growth. Evios has set its sights on becoming the largest EV home charge provider by 2025 and says it’s a unique position, offering a standout product that is competitively priced with multiple routes to market.

Its first product to launch is the Evios One charger, which features a jargon-free user interface, the largest colour screen of any home charger, and a smartphone app that allows users to prioritise charges based on cost, sustainability or speed.   

£2.2m of the new funding will go into research and product development, while £1.2m will facilitate the launch of the Evios Two workplace charging unit, which arrives later this year. Offering 7-22kW, it will be based on the Evios One and with the same premise of making charging simple but with increased functionality, including a larger number of users per charger.   

Meanwhile, £1.6m will act as working capital and support the company’s expansion into Europe early next year.   

David Martell said: “Our focus is to incorporate state-of-the-art technology into highly intuitive yet simple products that make life easier for EV drivers, and help more people embrace electric mobility.   

“The incredible support from our new investors will now help us meet the charging needs of the 70% of EV buyers with access to off-street parking, and the users or landlords of multioccupancy buildings. By addressing these previously unmet market needs, we will ensure Evios becomes the UK’s largest EV home charge provider by 2025.”  

The Evios One is manufactured at the company’s premises in Bedfordshire and is priced from £1,195 including installation or £33 a month for three years.