Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Electric Vehicle charging platform, Bonnet, receives a $1.3m funding for business expansion in crucial year for NetZero targets

by Jessica Weisman-Pitts
0 comment
storyblocks interior of a car HhlTHKnYP SBI 346273435

London, UK –   August 2021: Bonnet has received a £920k ($1.3m) total funding for the business; £850k in an equity financing round led by Ascension Ventures with investors from Imperial College London and APX, and winning an additional £70k grant from Innovate UK and OZEV.

Co-founders, Patrick Reich and Eliot Makabu launched Bonnet, the EV charging platform simplifying payments, in October 2019. The app gives drivers real-time data on charger availability and functionality – drawn from multiple sources – and offers drivers ‘bundles’ of cheaper charging that they can use anyway across the network, rolling over what they don’t use into the next month.

The funding supports the growth of the ten-strong team at Bonnet as well as expanding the platform’s chargepoint offering and partnerships with network operators. The co-founders are rapidly scaling and updating their software to provide drivers with access and information on a wide range of public charging points. Since the launch, Bonnet has aggregated charging points in 1,400 locations across the UK and aims to have integrated with 70% UK chargepoints by the end of 2021. There are currently over 40 different UK charging networks with unique payment systems: Bonnet’s charging bundles will give drivers seamless access to all of these, at great rates, with 24/7 support.

The team is also introducing semi-public and private charging points for app users, paving the way for domestic chargepoint owners to monetise too, as part of a semi-public network.

Commenting on the funding, co-founder and CEO Patrick Reich says:

“We’re honoured to have been awarded this funding round for Bonnet which will propel our offering nationwide. Since we launched in October 2019, we’ve seen a real acceleration in the growth of our platform. In the past six months alone, we’ve partnered with the likes of ESBShell RechargeEVBoxAlfa PowerFranklin EnergyPlug-N-GoAllegoFastened and char.gy to provide cheaper and simpler public charging for customers.

“Our goal is to take the anxiety out of charging electric vehicles and believe the process should be far more democratic and accessible – particularly for drivers in urban areas who need on-demand, affordable public chargepoint access. By expanding our offering this year, Bonnet can become the top resource for drivers looking for reliable real-time chargepoint data and simple EV payments: we’re committed to ensuring EV drivers never overpay again.”

For more information, please contact: [email protected]