Fuuse electric vehicle charging point management platform ready for expansion after £ 1.7 million investment
Based on Lancaster Miralis Data secured £ 1.7 million in Seed funding to accelerate the growth of its Fuuse electric vehicle charging platform, creating over 30 jobs in the company’s offices in Lancaster and Glasgow.
The investment, led by Par Equity and backed by a syndicate of angelic investors led by SaaS entrepreneur Kevin Beales, will support the company’s strategy of becoming the enterprise-wide charging point management system of choice for fleets, workplaces , destinations and installers.
The funding will allow Fuuse to expand its sales and customer service operations, strengthen its innovation program, accelerate the platform’s product development roadmap, and begin its planned international expansion.
Michael Gibson, CEO of Miralis, said:
“Fuuse is making phenomenal progress with active charging points on our platform from the Walkie Talkie building in London to a recycling site on the Isle of Man, and from the workplaces of national retailers, NHS Trusts and manufacturers to over 250 sites. Cumbrian public charging stations in Dorset.
“This investment gives us not only the financial means, but also access to exceptional people with extensive experience in software, energy and infrastructure to help us accelerate our growth and continue to thrive.”
Alastair Moore, Investment Manager of Par Equity said:
“We are extremely excited to partner with Miralis on this milestone in Fuuse’s growth. The attraction from all corners of the market for Fuuse is a testament to the quality of the offer that the team has built.
“It has already established itself as the leading end-to-end platform for EV charging point asset management and with 7 million EVs expected on UK roads by 2030, time to expand the infrastructure. to serve this is now, with Fuuse perfectly positioned to power this. We look forward to the journey that awaits us. “
Launched in 2021, Fuuse enables organizations to manage charging point infrastructure, control access, ensure uptime, reduce energy costs, accept payments, generate more revenue through roaming and provide an excellent driving experience via your app. Scalable across all industries and hardware independent, Fuuse is proving popular with fleets, workplaces, NHS Trusts, local authorities, sporting venues, and the EV charging point installer community, where over 100 companies are subscribed to the Fuuse installer.
Thanks to funding of £ 600,000 from the Office of Zero Emission Vehicles and Transport Scotland, Fuuse is also to launch its advanced intelligent fleet charging and energy management capabilities and allow for charging point booking and stall lock alerts. .
Dr. Will Maden, Chief Innovation Officer and co-founder of Miralis said:
“This investment validates not only the success we have had with Fuuse so far, but also the strategy, potential and pipeline of work we have put in place to build on it.”
Information about Miralis Data Ltd and Fuuse
Miralis Data Ltd is a transportation-focused cleantech company with strong software development and data science capabilities. With a mission to reduce carbon emissions in the transport sector, Miralis promotes efficiency, optimizes vehicle utilization and enables the switch to electric vehicles.
Fuuse is the flagship product of Miralis. Launched in 2021, Fuuse is the electric vehicle charger operating system, which powers hardware to meet the evolving needs of organizations and their electric vehicle drivers. Through its intuitive features, Fuuse helps both the private and public sectors get what they need from their electric vehicle charging infrastructure. Fuuse users can save energy, reduce costs, access multiple chargers, quickly troubleshoot and generate revenue from their charging network, from a single back-office system.
About Par Equity
Par Equity is a leading Edinburgh-based venture capital firm investing in the North of the UK in innovative technology companies with high growth potential. Since it was founded in 2008, Par Equity has invested more than £ 110 million in 69 companies, leveraging an additional £ 204 million of capital from third party investors.
Par’s investment thesis is to combine the professionalism and rigor of a venture capital manager with the skills and expertise of a broad base of individual investors who can add value throughout the investment life cycle. This investment approach has produced outstanding results in 24 realizations to date, with Par winning the Best EIS Investment Manager at the EISA (Enterprise Investment Scheme Association) Awards 2021 and the Best Angel Group at the UK Business Angel Association Awards 2021.
Miralis was advised by Napthens and Par Equity by Addleshaw Goddard.
For more information contact
Hannah Haworth, Marketing Manager
Paul Tustin or Adam Ogden Freshfield Marketing
Miralis Data (t / a Fuuse) secures £ 1.7m investment led by Par Equity – UK technology investment news
Source link Miralis Data (t / a Fuuse) secures £ 1.7m investment led by Par Equity – UK technology investment news