London-based electric vehicle (EV) charging point startup Rightcharge has raised £700,000 in a seed funding round.
Founded in 2019, Rightcharge provides a service to help EV drivers locate charging points and compare energy tariffs that are suitable for home charging from a list of 50 “vetted” companies.
Investors in the round include Link Venture Capital and multiple angel investors such as James Hind, founder of Carwow; Mike Allen of Zeus Capital and early investor in Carwow; Stuart Dyble, co-founder of Influence emobility and former board member at Jaguar Land Rover; and Julia Stent, former commercial director at uSwitch.
Rightcharge claims that using an EV-friendly energy tariff and smart charger combination can reduce costs and cut carbon emissions by 25%.
The company is looking to capitalise on the UK government’s pledge to ban the sale of new petrol and diesel vehicles by 2030.
Charlie Cook, founder of Rightcharge, said: “To date, we’ve helped over 10,000 drivers to find their installer or energy supplier but we’re just scratching the surface. Around 10-15 million more drivers will go electric by 2030 in the UK alone and the new investment means we are ready to support all automotive retailers who are looking for a charging partner that can deliver industry-leading customer experience.”
The latest funding announcement by Rightcharge comes months after agreeing partnerships with UK car retailer Lookers and car leasing comparison site Leasing.com.
“The world is going electric, and the shift to electric mobility is one of the biggest trends and one of the biggest investment opportunities out there. We have been invested in the electric mobility space for over eight years and watched this space grow, mature and then, this year, explode,” said Christian Rangen, chairman of the board at Link Venture Capital.