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 has set its sights on becoming the largest EV home charge provider by 2025. It says it’s a unique position, offering a standout product that is competitively priced with multiple routes to market. It’s initially launching with 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.   

Within two weeks of the firm’s launch, it had secured its initial funding target and funding has now closed with £5.8m raised.   

The majority of the funds to fuel the company’s ambitious plans for growth; £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.   

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.