Draper Esprit leads £9m round for POD Point

The VC invested £3m for new shares and £2m in replacement capital as part of the round, with Barclays Capital providing a £2m debt package. A further £550,000 was raised from angel investors, while the remaining balance is to be provided via crowdfunding platform Crowdcube.

The fresh capital will enable the business to invest in new electric charging infrastructure across the UK. POD Point anticipates it will increase its 2015 turnover figure by around 400% by 2020.

The latest investment round will bring the total raised by POD Point to £12.3m, following a £1.45m crowdfunding round on Seedrs in 2014 and a £1.8m round on Crowdcube in 2016.

Company
Founded in 2009, London-headquartered POD Point supplies electric vehicle charging points for installation in homes and offices. The business generated a turnover of £9m in 2015, which is expected to double in the 2016/17 financial year, according to a statement.

POD Point has partnership agreements with Barratt Homes, Holiday Extra and Hyundai. According to the aforementioned statement, the company has sold 27,000 charging points to date.

People
Draper Esprit – Simon Cook (CEO).
POD Point – Erik Fairbairn (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Venture