- UK charge point operator Connekt EV Charging has secured a multi-million pound investment from Growth Fund 1, helping to continue its expansion of public charging infrastructure across hotel, hospitality, leisure, and public sector locations.
- Connekt is hoping to deliver EV charging in some of the most underserved segments, helping to make public charging as a whole even more dependable for the growing number of UK EV drivers.
- The firm has already been opening charging locations at a number of key destinations which were previously lacking EV charging.
Connekt looks to grow further with fresh investment
Connekt has a crucial gap to fill within the UK public charging market. Despite impressive recent growth bringing the total number of public charge points across the UK to well over 84,000, there is still a significant void when it comes to destination charging. Of around 68,000 destinations across the country identified as suitable for destination charging, just 1% of these currently have EV chargers installed. Over 79% of these sites are located in rural and semi-rural areas, where demand for public charging is forecasted to be higher thanks to the longer distances typically travelled.
Johnny Manning, Founder & CEO of Connekt, commented:
“I’m absolutely delighted to announce the close of our multi-million-pound investment raise and to welcome Growth Fund 1, led by fellow entrepreneur Toby Dixon, as our new partner. Having a successful founder with a proven track record in scaling businesses was a real differentiator when choosing GF1 – they understand the journey we’re on and the scale of our ambition.”
Toby Dixon, Partner at Growth Fund 1, added:
“At GF1, we invest in ambitious management teams with the vision and drive to lead their markets – and Connekt is exactly that. Johnny and his team have already proven they can deliver, and with a market opportunity of tens of thousands of under-served sites, we’re excited to back their next phase of growth.”
