Indra secures £6m from Clean Growth Fund and Gulf Oil International to expand smart energy technology
The Clean Growth Fund led the investment, which marks Gulf Oil International's first strategic move into the electric vehicle sector.
Indra develops smart charging and energy storage solutions for electric vehicles, specialising in domestic vehicle-to-grid technology.
Indra has secured £6m in a funding round led by the Clean Growth Fund, with participation from Gulf Oil International. The investment will support the development of Indra's smart energy product suite and help expand its customer base in domestic and international markets.
Established in 2013, the company provides vehicle-to-grid charging technology designed to optimise energy use during off-peak periods. Existing backer OVO Group also remains a shareholder following its earlier backing through Kaluza.
Investor perspective
"Indra’s world-class expertise in smart charge technology is recognised across the globe. The company is extremely well-positioned to capitalise on the revolution that we are seeing in the EV and V2G arenas, and the convergence of the transport and energy supply industries."
Beverley Gower-Jones
Managing Partner, Clean Growth Fund
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
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About the company
Indra
Indra manufactures smart electric vehicle chargers and energy storage systems for residential and commercial use.