Andersen EV
The smart, aspirational electric vehicle charger
The Business
Andersen EV is a designer of smart, sleek electric vehicle chargers. Andersen uses industrial-grade electronics to deliver enhanced performance, as well as advanced software for a range of smart charging functionality. Electric vehicle adoption continues at a rapid pace. In the UK, sales of battery electric vehicles almost tripled in 2020, according to data from the Society of Motor Manufacturers and Traders, with plug-in cars now accounting for more than 10 per cent of UK sales.
The Deal
Mobeus has invested £1 million into Andersen, a business which was introduced via the Women in VC network. As part of the transaction, Mobeus has introduced Rob Mouser as Executive Chair. Rob led previous Mobeus investment Plastic Surgeon to a 5.6x money exit in 2019.
The Plan
Funding will be drive expansion in the fast-growing electric vehicle market. Andersen grew revenues by over three and a half times in the year to February 2020 and is well positioned to benefit from a ‘green’ recovery post-COVID-19. Andersen will invest in operations, sales and customer support, and increase production.
“We have a very clear philosophy, which meant finding the right investment partner, who really understood what drives us, was crucial. Going electric is a choice to embrace a sustainable future and we see EV chargers being at the centre of everyone’s smart energy home. This additional funding means that we are very excited about the next stage in our growth journey.”
Jérôme Faissat, Andersen EV, Co-Founder and CEO
If you're facing a similar challenge, why not contact one of the team
Jane Reoch
Investment Director
(Growth Team)
Investment lead