UK startup Bonnet has raised £920,000 ($1.3 million) in new funding, including £850,000 in an equity financing round led by Ascension Ventures and a £70,000 grant from Innovate UK and OZEV (government-funded entities that promote the British EV industry).
Bonnet is a charging platform designed to simplify paying for public charging. There are currently over 40 charging networks operating in the UK, each with its own payment system. Bonnet’s platform is designed to offer drivers seamless access to multiple networks, with 24/7 support.
The Bonnet app gives drivers real-time data on charger availability and functionality (drawn from multiple sources) and offers drivers bundles of charging credit that they can use across networks, rolling over unused credit into the next month.
The new funding will be used to grow Bonnet’s ten-strong team, and to expand its partnerships with network operators.
Since its 2019 launch, Bonnet has aggregated charging points in 1,400 locations across the UK, and aims to be integrated with 70% of the country’s public charging stations by the end of 2021. The company also plans to offer access to semi-public and private charging points.
“We’ve seen a real acceleration in the growth of our platform. In the past six months alone, we’ve partnered with the likes of ESB, Shell Recharge, EVBox, Alfa Power, Franklin Energy, Plug-N-Go, Allego, Fastned and char.gy to provide cheaper and simpler public charging for customers,” said co-founder and CEO Patrick Reich. “Our goal is to [make charging] more democratic and accessible—particularly for drivers in urban areas who need on-demand, affordable public chargepoint access. By expanding our offering this year, Bonnet can become the top resource for drivers looking for reliable real-time chargepoint data and simple EV payments—we’re committed to ensuring EV drivers never overpay again.”