Mobeus has invested £1 million growth capital into Andersen EV, which designs aspirational, sleek electric vehicle charge points. Andersen EV uses industrial-grade electronics to deliver enhanced performance as well as advanced software for a range of smart charging functionality.
The electric vehicle (“EV”) market grew by 132% in the year to May 2020, compared to a 58% drop in sales of petrol and diesel vehicles, over the same period. Andersen has established an attractive position in the market and has several prestigious OEM partnerships.
The EV market has demonstrated resilience in the new COVID-19 environment, illustrated by Andersen logging its record trading day in June. Electric vehicles are expected to continue their strong growth as a proportion of total vehicle sales, as adoption is also likely to benefit from significant environmental policy introduction, relating to decarbonisation and air quality, across Europe, with similar measures expected to follow in the UK.
Andersen was introduced to Mobeus via the Women in VC network. As part of the transaction, Mobeus has introduced Rob Mouser as Executive Chair. Rob led the previous Mobeus investment Plastic Surgeon to a 5.6x money exit in 2019.
Mobeus Investment Director, Jane Reoch, led the deal, supported by Amaad Mahmood and Katia Mendonça.