EVIOS, the parent company of premium home charge point provider Andersen EV, has secured £4 million in Series A funding led by ProVen VCTs, aiming to capitalize on the growing UK electric vehicle market.

Target Company Overview

EVIOS, the parent company of Andersen EV—a leading provider of premium home charge points—has successfully raised £4 million in a Series A funding round. This recent financing round, which brings the total investment in EVIOS to £10 million, was led by the ProVen VCTs. David Martell, the founder and CEO of EVIOS, has a distinguished history in the EV sector, notably founding Chargemaster, which was acquired by BP in 2018.

EVIOS was launched in 2022 with the mission of offering UK electric vehicle (EV) owners a seamless home charging experience. With a team that includes many former employees of Chargemaster, the company has experienced rapid growth, particularly following its acquisition of Andersen EV in October 2022. Andersen EV has significantly increased its sales by 104% within a year of the acquisition, establishing itself as a preferred installer for premium automotive brands such as Porsche and Jaguar Land Rover.

Industry Overview in the UK

The electric vehicle market in the UK is witnessing unprecedented growth, driven by increasing environmental awareness and government initiatives aimed at reducing carbon emissions. Projections indicate that by 2028, EV sales will account for