Elmtronics secures £1.5m seed investment from Mercia and Ingenious to expand charging infrastructure
The funding round was backed by the North East Venture Fund and Ingenious.
£1.5MSeed
Elmtronics supplies and installs electric vehicle charging stations across the UK for homes, businesses and public bodies.
Electric vehicle charging provider Elmtronics has secured £1.5m in seed funding to expand its footprint and enhance its proprietary software platform. The investment was backed by the North East Venture Fund, managed by Mercia, alongside the Ingenious Infrastructure Ventures EIS Service. The capital will enable the company to scale its presence in underserved regions and create nineteen new roles nationwide.
From the founder
"The latest government announcement is another big step forward on the 'road to net zero'. However despite the growing popularity of EVs with consumers and fleet users, a lack of charging points continues to deter many from making the switch. This funding will allow us to step up our activity to help build the all-important infrastructure. We hope to make Elmtronics a key player in the roll-out."
DM
Dan Martin
CEO at Elmtronics
Investor perspective
"Elmtronics is laying the foundations for the green transport revolution. The company has been very successful in building its presence in the market and developing relationships with public bodies, fleet managers and strategic partners. Our investment will allow it to expand its team, take on new contracts and speed up the roll-out of charging points nationwide."
JO
Jan Oosthuizen
Mercia
Use of funds
- 01Continue product development
- 02Grow the team
Investors
Categories
About the company
E
Elmtronics
Electric vehicle charging provider supporting infrastructure expansion across the UK.
Consett, UK—Founded 2016
£1.5MRaised