Electric Miles secures investment to grow smart charging service

Smart charging business Electric Miles has secured investment in its platform that promises to save electric vehicle (EV) drivers up to 40% off their electricity costs.

The service enables EV drivers to charge their vehicles with cheaper and greener energy while also providing a demand flexibility service to the grid, by charging the vehicle at the most appropriate time.

Drivers simply set their ‘car ready time’ and Electric Miles ensures that the vehicle is charged with the cheapest and greenest energy available as per the grid ecosystem.

Electric Miles is working with charger manufacturers and resellers to add value to their propositions as their software partner as well as with charger installers to make installation and commissioning easier.

The business agreed a three-year smart charging deal with Project EV, last year, with plans for around 100,000 chargers deployed by Project EV to be exclusively controlled on the Electric Miles Smart Charging platform.

Vipul Amin, a founding member of uSwitch, owner of a leading energy technology business MyUtilityGenius and co-owner of Kelkoo Group, has invested £250,000 in the firm.

Electric Miles says it has exceeded its target and has over subscribed to raise nearly £800,000 of seed funding. Other lead parties in the initial round are Low Carbon Innovation Fund and Blue Lake VC, along with international angel investors.

Arun Anand, founder and CEO of Electric Miles, said: “We’ll use this new investment to build the team to drive product capability, platform expansion and innovation in our grid demand flexibility service.

“Our patent pending solution will cover the entire spectrum of EV smart charging right from installation using Installer Miles for easy commissioning, to Admin Miles for support and remote diagnostic, to Electric Miles for an intelligent driver's app and finally to Flexibility Miles for EV charging to take part in grid flexibility to manage the peak demand. We are committed to work towards UK Net Zero ambition.”

The company plans to scale its user base to 100,000 in the next 24 months as well as double the size of its team, which will position it for expansion to US and Europe in 2023.