Fuuse says it plans to “aggressively enhance innovation and functionality” after securing £2.5m in follow-on funding.
Par Equity has led the investment into the Lancashire EV charging software firm, which is also backed by a group of new and existing private investors and entrepreneurs.
“Fuuse is rapidly growing it’s market leading enterprise solution for EV charging as we continue our path to profitability. We have a robust pipeline of new projects with some major announcements to follow. We’re also building the foundations for the next wave of the EV revolution through our grant-funded innovation projects and we’re delighted to be ready to address the future demand we see coming down the road with the further support from our investors,” said Michael Gibson, CEO of Fuuse.
“The future is very encouraging and we are ready at the helm to strengthen our foothold in the UK, expand our offering in Ireland and springboard into new international markets by the end of the year.”
The announcement comes following a series of recent wins, including United Utilities, Suez, SSE and British Airways to deliver enterprise charging solutions.
“Fuuse continues to make incredible progress in establishing itself as a leading name in EV software, which is now the driving force in the wider EV charging market. As EV adoption ramps up it is essential that EV infrastructure owners and operators are ready and able to meet the needs of drivers, while managing the energy demand on the grid,” added Alastair Moore, Senior Investment Manager at Par Equity.
Earlier this year Fuuse released its FuuseEnergy suite of energy monitoring and management tools.
