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EV charger management startup Fuuse raises £8.7m

Fuuse EV
Image credit: Fuuse

Fuuse, a Lancaster-based electric vehicle (EV) charge point management platform, has raised £8.7m as it looks to expand across the UK and Ireland.

Launched in 2021, Fuuse provides EV charging point operators with a white-labelled management platform to offer flexible payments, dynamic pricing, booking controls, maintenance tracking and more.

Fuuse’s platform users include SSE, Scottish Power, British Airways, Siemens, United Utilities and Arnold Clark.

The startup is also working on a grant-funded project with EDF and Veolia to optimise energy consumption to reduce the cost of fuelling EVs. Other projects in development include wireless induction charging and extending charging to buses, heavy goods vehicles and boats.

The investment round was led by YFM Equity Partners and included participation from existing investors Par Equity and a syndicate of angel investors.

“The company’s software is designed to constantly evolve, helping to futureproof EV charging infrastructure,” said YFM Partner Andy Thomas.

“It’s a comprehensive product that can serve the differing needs of a range of customers, which places it in an advantageous position going forward.”

Fuuse CEO Michael Gibson said with the new funding, the company can “continue to curate the future of EV infrastructure and help more customers to deliver an optimised, reliable and trusted EV charging experience”.

Fuuse previously raised £2.5m in an investment round in May 2023.

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