In summer 2018 we invested £2.25m in electric vehicle (EV) charging infrastructure specialist Pod Point. The investment marks Panoramic’s sixth investment from its second fund.
London based Pod Point are the UK’s leading provider of electric vehicle charging. Since forming in 2009, Pod Point has manufactured and sold over 40,000 charging points and developed one of the UK’s largest public networks, connecting EV drivers with thousands of charging stations nationwide at locations such as Sainsbury’s and Southern Rail. Through Pod Point’s network of smart home, workplace and public charging points the Company has powered over 44m miles of EV motoring.
Funding from Panoramic will allow Pod Point to continue its rapid expansion throughout the UK and Europe with additional investment in sales, product development and working capital as the business continues to scale.
Stephen Campbell, Partner at Panoramic commented, “Pod Point is at the forefront of electric vehicle infrastructure in the UK and we saw an opportunity to access the high growth anticipated in the EV market. We were also impressed by the depth and quality of Pod Point’s management, technology and operations. We believe that Pod Point will play an important role in providing the large amount of infrastructure needed in the UK to support the growth of EVs over the coming years”.
Senior Investment Manager David Atkinson added “the evolution to electric vehicles is gathering momentum and we are pleased to have the opportunity to invest in one of the UK’s leading independent companies in this sector”.