Australian EV charging start-up raises $4 million

Australian EV charging start-up raises $4 million

Brisbane based EV charging technology startup Evos – founded by former Tritium executives – says it has raised $4 million in another funding round, and is seeking another $6 million to help expand its manufacturing capabilities in home and fleet products.

“We’re ramping up the rollout of new products and software rapidly, and demand for EV charging at home is only increasing from here on out,” said Marcelo Salgado, founder and CEO.

“Sales of EVs are up more than 30 per cent over the same period last year and that number will increase as OEMs move further away from petrol-powered to zero emissions vehicle manufacturing.

The company was founded in 2020 by Salgado, Seshan Weeratunga, and Chris Crossman, all former executives of the now collapsed Tritium. Evos has already completed several successful funding rounds in recent years, including a $1.7 million seed funding round in mid-2021 and a $5 million funding round in mid-2023.

Its products include the SB7 Home Charger and Fleet22 Charger, and the MyEVOS app, which allows for management of charging sessions directly from a smartphone.

The company also launched its Fleet Platform this year, a first-of-its-kind energy management solution for EV-ready business sites which is designed to simplify charging at the workplace. Evos also offers its own Energy Management platform, which is able to determine the best idle time to charge an EV.

“What we’re trying to solve is not only the issue of charging, but the issue of energy,” said Chris Crossman, chief technical officer.

“Managing and understanding energy consumption will be a challenge for fleet operators and private owners alike, but our ecosystem perfectly manages when to charge based on feed-in tariffs, when energy is cheapest and also when solar is involved.”

EVOS has also recently begun expanding overseas, with successes in Southeast Asia and India.

Full article HERE

(source: TheDriven)

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