Chargemaster sparks with £1.5 million

Electric car parts manufacturer Chargemaster has raised £1.5 million in equity investment through angel network Envestors.

The funding, secured in ten weeks by the network, which is owned by the Braveheart Investment Group, will be used to expand the company’s sales force. Led by chief executive David Martell, Chargemaster has developed a range of electric car charging point products that can be installed on streets, in public car parks, at supermarkets, in office car parks and at houses.

According to a statement from Braveheart, the company has annual revenues of more than £1 million and a range of blue chip customers.

Oliver Woolley, managing director of Envestors, said: ‘Chargemaster represented a unique opportunity to invest in infrastructure needed for the future growth of carbon free motoring.’

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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