Electric Miles has announced that Vipul Amin, a founder member of the team behind the ground-breaking British comparison site, uSwitch, is onboard and has invested in the company.
Electric Miles is an intelligent ‘internet of energy’ platform that provides electric vehicle (EV) drivers with a smart charging service. This enables them to charge their vehicles with cheaper and greener energy whilst also providing a demand flexibility service to the grid.
Amin brings extensive experience from his work in the energy technology innovation space. He is also the owner of leading energy technology business MyUtilityGenius and co-owner of Kelkoo Group which operates across Europe.
With his investment of £250,000, Electric Miles has now exceeded its target and has oversubscribed to raise nearly £800,000 of seed funding. Other lead parties in the initial round are Low Carbon Innovation Fund and Blue Lake VC, along with international angel investors.
Vipul Amin, founder member uSwitch, said: “Energy costs have been escalating in recent months and using the Electric Miles innovative smart charging solution is one way by which electric vehicle drivers are able to save up to 40 percent off their electricity costs.”
Francis Wright, Low Carbon Innovation Fund non-executive director, said: “Nine million electric vehicles are set to hit the UK roads within eight years that will drive a 30 percent rise in the peak power the local grid needs.
“If not solved this will lead to an electricity crisis. I’ve got no doubt that Electric Miles will play a part in the UK reaching net zero.”
Electric Miles is an innovative player in the electric vehicle industry and announced recent business partnerships announced with Project EV and Pozitive Energy. Plus the company will also be working with distribution system operators such as UK Power Networks and Western Power Distribution.
Electric Miles was also recently selected to be a part of the London & Partners Business Growth Programme supported by the Mayor of London.
The Electric Miles app helps electric vehicle drivers save money and reduce their carbon footprint with an intelligent and reliable way to charge their vehicles. Drivers simply set their ‘car ready time’ and Electric Miles ensures that the vehicle is charged with the cheapest and greenest energy available as per the grid ecosystem.
Electric Miles is working with charger manufacturers and resellers to add value to their propositions as their software partner as well as with charger installers to make installation and commissioning easier.
Arun Anand, Electric Miles founder and CEO, said: “We’ll use this new investment to build the team to drive product capability, platform expansion and innovation in our grid demand flexibility service.
“Our patent-pending solution will cover the entire spectrum of EV smart charging right from installation using Installer Miles for easy commissioning, to Admin Miles for support and remote diagnostic, to Electric Miles for an intelligent driver’s app and finally to Flexibility Miles for EV charging to take part in grid flexibility to manage the peak demand. We are committed to work towards UK Net Zero ambition.”
The company plan to scale their user base to 100,000 in the next two years as well as double the size of the team which will position themselves for expansion to the US and Europe in 2023. Electric Miles total investment now stands at £1 million with plans to raise a further round of financing in 2023.