EVOS Secures $4m and Seeks Additional $6m to expand capabilities in Australia

Left to right: Chief Technology Officer Chris Crossman; Chief Experience & Innovation Officer Seshan Weeratunga; and CEO Marcelo Salgado.

Initial $4m secured through existing investors, with the total $10m sought to increase sales and marketing in Australia, expand its manufacturing capability locally and meet demand for sales in overseas markets

Brisbane, Australia – EVOS, a start-up specialising in fleet energy management and AC charging for electric vehicles (EVs), today announced that it is seeking an additional $6 million from investors, having already completed a $4 million raise from existing investors.

In total, the latest $10 million funding round, once completed, will fuel growth in the company’s sales and marketing teams to ensure Australians are able to purchase in home or business EV chargers from a locally designed and manufactured specialist.

The raise will also enable the company to expand its manufacturing and bring products to market faster and meet increasing demand for its charging products both locally and abroad.

EVOS is founded by CEO Marcelo Salgado; Chief Experience & Innovation Officer Seshan Weeratunga, and Chief Technology Officer Chris Crossman.

“We’re ramping up the rollout of new products and software rapidly, and demand for EV charging at home is only increasing from here on out,” said Salgado. “Sales of EVs are up more than 30 per cent over the same period last year and that number will increase as OEMs move further away from petrol-powered to zero emissions vehicle manufacturing.

“Research shows that EV owners will spend most of their charging time at home or the workplace – and we know that Australians are keen on Australian products.”

Rollout of solutions to ramp up once investment round closes

Already this year the company launched its Fleet Platform, a first-of-its-kind energy management solution for EV-ready business sites, and last year launched its SB7 charger, built with the everyday EV owner in mind and designed to be easily installed. The 7kW charger can add 35km of range every hour of charging time, making it the ideal solution to ensure an EV is charged to meet daily driving needs.

These launches complemented the company’s existing solutions, the Fleet Home 22 AC charger and the company’s unique Energy Management platform, which can instinctively choose the ideal idle time for the charger to charge the vehicle, whether its overnight in non-peak periods or during business hours, for instance.

It can also control charge rate, speed and power to ensure owners can manage their energy output, thus reducing the costs of charging at home as much as possible.

“What we’re trying to solve is not only the issue of charging, but the issue of energy,” said Crossman. “Managing and understanding energy consumption will be a challenge for fleet operators and private owners alike, but our ecosystem perfectly manages when to charge based on feed-in tariffs, when energy is cheapest and also when solar is involved.”

Exporting to new markets

EVOS has also begun experiencing success abroad, with sales in Southeast Asia and India increasing. Recently, the company was one of 35 exporters backed by the Trade and Investment Queensland’s Go Global Export Program, which provides funding and support.

“Our products, which are easy to install, operate and manage, are in demand abroad and we’ve recently hired a regional head of sales to facilitate more sales abroad,” said Chief Experience and Innovation Officer Seshan Weeratunga. “The capital raise will help us ramp up production across the region, but our main focus is meeting the demand of Australian EV owners and fleet operators as the market here increasingly turns to zero-emissions driving.”

ABOUT EVOS

EVOS designs and manufactures EV charging products in Brisbane, Australia to deliver quality, performance and innovation to the world. Its team of talented engineers and designers are constantly pursuing disruption through innovation and smart design. Its people are driven by the values of quality, simplicity and providing unrivalled customer experience.  EVOS has partnered with a Tier 1 Auto manufacturer with over 30 years’ experience to produce the highest quality hardware to deliver reliability to its customers.