Electric Vehicle start-up Mina secures seed investment
13th August 2020
Sheffield-based Electric Vehicle (EV) tech start-up Mina has successfully secured significant seed investment during the lockdown period supported by NorthInvest, valuing the business at £2m.
Private angel investors from a range of backgrounds including Energy, EV Charging and Vehicle Lease sectors contributed to the round led by NorthInvest Angel Investor Gary Shuckford and supported by equity finance advisor, Mick Morris at Compellor. Duncan Firman and solicitor Amy Pierechod of Yorkshire law firm Gordons LLP also offered legal support to the group of angels.
Mina’s EV charging software makes managing electric fleet vehicles simple, and the company is already supporting a number of EV fleets across the UK.
NorthInvest Angel Investor Gary Shuckford said: “Mina shows great potential, it has a strong team uniquely positioned to fill a real need in the market. I’m proud to back such an ambitious team which will support the seamless transition to electric vehicles and a more sustainable future.”
This latest investment round will enable Mina to further capitalise on its position as a leader in the EV charging industry in the UK and will support the start-up’s ambitious growth plans.
Formed in December 2019, founders Ashley Tate, formerly Founder of utilities management service Split the Bills, and Chris Dalrymple, former Product Director at On the Beach, bring a wealth of experience from successful northern businesses.
Chris Dalrymple, Co-founder of Mina added: “We’re delighted to have secured such a strong vote of confidence from this experienced team of investors. Our new Angels bring with them knowledge and contacts across a range of relevant industries, putting us in a very strong position to build on the amazing work the Mina team have delivered so far. We’re incredibly excited about the future.”
As transport makes up 23% of global carbon emissions, Mina is passionate about making EV charging simple for fleets and making the switch to electric as easy as possible. Half of all new vehicles purchased are for business use, and yet managing business charging payments is complicated, especially where vehicles are charged at home.