EV startup EVOS secures $5m to ramp up charging equipment production

Image credit: EVOS Energy

EVOS, a startup specialising in fleet energy management and AC charging for electric vehicles (EVs), has raised $5 million in funding to bring new market technologies ideal for a variety of EV charging cases, such as addressing challenges for EV fleet operators and EV homeowners/renters.

CEO Marcelo Salgado said the investment demonstrates the confidence investors have in a home-grown manufacturer’s ability to provide game-changing products for Australians, and it also validates all the effort the team has put forwards since its inception.

“Since launching, we’ve unveiled our first charger, the Fleet Home 22 AC Charger and our patented Smart Start solution to help fleet and EV owners simplify and reduce the cost of charging,” noted Salgado.

He added that EVOS will present its newest product during a Brisbane event beginning on 19 July. 

The product, like the Fleet Home 22 AC Charger, is intended to help EV owners simplify and minimise the cost of charging.

EVOS initially raised $1.7 million to help the company expand its team and commercialise its technology.

Since then, EVOS Energy has launched its products and hired 22 new workers for its manufacturing, sales, and engineering departments.

“We’ve seen tremendous growth not just within our team but the opportunities for electric vehicles in Australia,” said EVOS’ Chief Technology Officer, Chris Crossman.

There are fewer adoption obstacles for EVs now, according to Crossman, and local sales are increasing. 

However, he said that the lack of charging infrastructure that meets their needs prevents many individuals from choosing an EV as their sole or logical next vehicle.

“It’s a challenge we’re looking to address with each solution we bring to market,” Crossman remarked. 

The first Australian-made home charger to hit the market was the EVOS Fleet Home22 AC Charger.

The company said it was created to make charging easier for drivers, make it easier to install and remove and assist fleet organisations in better-managing costs and energy.

Chief Experience & Innovation Officer Seshan Weeratunga also commented on the funding, saying, “The investment is going to help us build on these market-leading technologies and allow us to deliver our technology roadmap.”