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EV charging gets simplified: London’s Bonnet picks $5.5M to accelerate adoption of electric cars

With the disruption in the mobility market with the electrification of vehicles, the driver experience of charging and operating EVs are also evolving dramatically.

One of the companies looking forward to elevate the EV charging experience is EV charging platform Bonnet, which is headquartered in London.

Expansion plans

Now, Bonnet just announced that it has pocketed $5.5 million in funding. The funding follows a recent $1.2 million that the company secured back in August last year to support its rapid growth plans.

New investors – Lightspeed, GV and 20VC took part in the round. Also, the round witnessed participation from prominent angel investors including the founder of Deliveroo Will Shu, ex-Tesla president Jon McNeill, co-founder of TIER Lawrence Leuschner and founders of Zapp Joe Falter and Navid Hadzaad.

The investment will be used to triple the team’s headcount and secure new charge point operator partnerships. Furthermore, Bonnet plans to expand its coverage to the majority of all UK and European chargers by the end of 2022.

Also, Bonnet plans to use the investment to increase its international presence in new markets and support further R&D into new features and revenue streams. It wants to launch new products in the coming months.

Commenting on the funding, co-founder and CEO Patrick Reich said: “The continued support and trust our existing and new shareholders have put into Bonnet brings a huge value-add to the team and will give us the advantage to become the number one charging product for EV drivers globally.”

Commenting on the investment: “Lightspeed believes the future of mobility will be green and sustainable as we go from 1-100% of cars being electric in the next 10-20 years,” said Rytis Vitkauskas, Partner, Lightspeed. “We’re excited to partner with Bonnet founders Patrick and Eliot who have a unique perspective on how to bring a next generation, delightful product experience to market while augmenting the efforts of underlying infrastructure providers.”

Reliable EV charging points platform

Launched in July 2021 by co-founders Patrick Reich and Eliot Makabu, Bonnet simplifies the process of EV charging away from home.

Since its debut, the platform has worked in tandem with charge point operators and charge point manufacturers to make charging accessible and simple for customers, thereby addressing a key challenge in EV adoption.

To date, the Bonnet has installed nearly 50,000 charge points in over 20,000 charging locations across the UK and Europe and aims to increase the number. It has set up these charging points with networks such as Shell Recharge, ESB and available through the app.

The simple and reliable public EV charging platform, Bonnet, is continuing to see rapid growth, with thousands of new charge points added each month. Last month, the number of charging points available via its platform increased by 30%.

Also, there is an incredible uptake from drivers and fleets alike. This year, the company will continue to see the advancement in its tech offering and roll out the new features into drivers’ hands.

Affordable EV charging solutions

The Bonnet app delivers real-time data on charging availability and functionality. Also, it offers cheaper charging options through its charging bundles. The app offers various benefits, including its simple pricing structure that guarantees competitive charging rates to EV drivers through a dynamic monthly refill plan.

The app is constantly refreshed to ensure drivers are always able to charge immediately on charge point arrival. The user experience is further enhanced by the app’s inbuilt customer service tool that provides instant support to any EV driver experiencing charging issues at any selected charge point across the UK.

What about its pricing?

With the Bonnet Refills, users can pay upfront for the electricity that they need for a month of charging in exchange for a lower rate and some unique perks. They just have to choose the Refill amount that suits them depending on how much they will drive and the payment will be automatically debited every month.

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