Indra has announced that it has received over £20million of fresh investment following its oversubscribed Series B funding round.
The additional investment will help Indra expand the development of its technology in the bidirectional electric vehicle (EV) charging space.
elemental recently ran a webinar with Indra about vehicle-to-grid charging technology, which you can watch on demand here: crowdcast.io/e/introducing-v2g
This technology is designed to help EV drivers save money and cut carbon by accessing low-carbon renewable energy to charge EV batteries, and then any surplus energy is stored in the vehicle to power homes or sell back to the grid.
The latest funding round follows the news of Indra’s involvement in the UK Government’s V2X (bidirectional charging) Innovation Programme, as industry and government work together to bring this technology to consumers in the UK.
Adrian Moores, Indra’s CEO, said:
Indra’s core mission is to make energy smarter to help enable the road to Net Zero. This additional investment shows the depth of confidence in our ground-breaking technology as we continue to push boundaries and unlock the potential of EVs as portable energy sources for a sustainable, greener energy ecosystem.
Mike Schooling, Indra’s founder and Chief Technology Officer, said:
Indra is all about innovating our way to Net Zero; bidirectional charging technology is enabling us to unlock the potential of EVs as portable energy sources, connecting the vehicle with the home and the grid.
Thanks to this latest investment, we are in a strong position to take full advantage of the growing EV market and continue to play a key role in developing bidirectional charging solutions in the UK and globally.
The funding will also enable Indra to grow its customer base, increase revenue stream in UK and international markets and accelerate the development of its home EV charging hardware and technology platform.
Last year, Indra announced it will be running a large-scale trial of Vehicle-to-Home bidirectional charging technology later this year. Coupled with the rapid expansion of EV ownership, Indra is strengthening its position as a leading player in the smart home EV charging and energy technology space both in the UK and internationally.
