London-based Bonnet raises €5 million to expand its EV charging app

Bonnet, the London-based EV charging solution, has secured about €5 million and is planning European expansion. The new funding includes participation from Lightspeed, GV,  20VC and APX. 

Financial backing has also been secured from prominent angel investors including the founder of Deliveroo Will Shu, ex-Tesla president Jon McNeill, co-founder of TIER Lawrence Leuschner and founders of Zapp Joe Falter and Navid Hadzaad.

Launched in 2021 by co-founders Patrick Reich and Eliot Makabu, Bonnet simplifies the process of EV charging away from home. The young company is on a mission to decrease charging anxiety and democratise public charging, particularly for those without private driveways.

The app delivers real-time data on charging availability and functionality, while also offering cheaper charging options through its charging bundles. Since its launch, the platform has worked in tandem with charge point operators and charge-point manufacturers to make charging accessible and simple for customers – addressing a key challenge in EV adoption.

Since its launch, the business has 50k charge points available across the UK and Europe, with plans to support the majority of charge points across select European geographies and the UK by the end of 2022. Bonnet also plans to use the investment to increase its international presence in new markets and support further R&D into new features and revenue streams.

Co-founder and CEO Patrick Reich commented: “Bonnet is continuing to see rapid growth, with thousands of new charge points added each month and incredible uptake from drivers and fleets alike. This year will continue to see the advancement of our tech offering and we can’t wait to put the new features into drivers’ hands.”

While more and more of us adopt electric vehicles, and innovation in the sector is heating up, it’s great to see continued development in making EV use more accessible.