London electric vehicle charge point firm hits £1.2 million crowdfunding target
Aldgate East-based network of Electric Vehicle (EV) charging point, POD Point, has raised £1.2 million, making it the third largest Seedrs crowdfunding campaign ever.
Thanks to the launch of a growing number of practical, affordable and desirable EVs such as Nissan, BMW and Tesla, the market has begun to boom in recent years.
In the UK, January to October 2014 there has been a 264 per cent year on year increase in plug-in EV sales.
POD Point’s growing network of 1,300 charging bays across the UK is a key enabler of this growth.
Now in its sixth year, PODPoint achieved a £4.5m turnover last financial year.
The business has grown 130 per cent in 2014 and has a 27 per cent market share in the UK.
It has shipped over 17,000 POD Points to over 14 countries, making it one of the largest producers of EV charge points in the world.
Erik Fairbairn, CEO and founder of POD Point, said: “We’re hugely excited about the prospect of recruiting an active and enthused community, who are passionate about the next century’s way of powering vehicles.
“This is a rare and exciting financial opportunity to be part of the growth of an established business, at the forefront of an industry with huge, and inevitable growth potential.
“We have already provided over six million miles of electric vehicle motoring to our customers, and our business has always been made possible through the collaboration of other stakeholders.
“Now, with the help of the wider crowd we can ensure there’s a POD Point solution wherever EV drivers park for more than an hour, be it at home, at work, or in city centres.”