10:59 am, December 3, 2021
EV chargers and energy tariffs comparison site Rightcharge has raised £700,000 in a seed funding round.
It said the investment would help accelerate the adoption of smart EV charging in the UK.
Among those ploughing cash into the company are Link Venture Capital as well as angel investors such as Carwow founder James Hind, Zeus Capital research head Mike Allen, Influence emobility co-founder and ex-Jaguar Land Rover board member Stuart Dyble, plus former uSwitch commercial director Julia Stent.
Rightcharge works with dealers to help EV drivers find the right charge point and energy tariff for their home or business.
It says an EV-friendly energy tariff and smart charger combination can see EV drivers make substantial savings and cut their carbon emissions by a quarter.
Founder Charlie Cook said EV drivers can buck the trend of rising energy prices thanks to off-peak pricing offered by EV-friendly energy tariffs, meaning they can save up to £158 a year.
He added that the funding would help it support dealers seeking a charging partner.
‘We want to empower the everyday person to choose electric by making EV charging easier, cleaner, cheaper and more accessible,’ he said.
‘To date, we’ve helped over 10,000 drivers to find their installer or energy supplier but we’re just scratching the surface.
‘Around 10 to 15 million more drivers will go electric by 2030 in the UK alone, and the new investment means we are ready to support all automotive retailers who are looking for a charging partner that can deliver industry-leading customer experience.’
Hind commented: ‘I see first-hand day to day that the electric car revolution is coming, and Rightcharge provides the best way for consumers to easily find an installer for a charge point and get a matching smart electricity tariff to go with it.
‘I’m looking forward to working alongside Charlie and his team at Rightcharge, and I’m very excited about where this company is going.’
Christian Rangen, chairman of Link Venture Capital, said: ‘The world is going electric, and the shift to electric mobility is one of the biggest trends and one of the biggest investment opportunities out there.
‘We have been invested in the electric mobility space for over eight years and watched this space grow, mature and then, this year, explode.
‘We are privileged to get the opportunity to invest in and support Rightcharge, as the company grows to take a key position in the future electric mobility landscape.’
Dyble added: ‘We are now seeing the rapid electrification of the market, and as more drivers join the EV community, the need for clear, comparative information on charging technology and energy tariffs will grow equally rapidly.
‘I have been very impressed with Charlie and the Rightcharge platform, and I look forward to helping him scale the business to the point where Brits won’t choose a home charger or tariff without first checking Rightcharge.’
