Iduna launches £6.5million EV crowdfunding round

Stephen Chapman's picture
by Stephen Chapman

Iduna is working with an ethical investment platform to raise £6.5m to improve the North West’s EV charging infrastructure.

The company took over the running of the existing Be.EV network from Transport for Greater Manchester in 2021 and is seeking to add 1000 chargers across the region, to push the drive towards electric.

“There’s an urgent need to accelerate the roll-out of EV charging infrastructure across the North West. Greater Manchester is introducing its Clean Air Zone in only a few months’ time and EV uptake massively lags behind our region’s net zero ambitions. The Be.EV network is one of the few networks with the clear regional focus needed to get to a critical mass of locally available chargers quickly, so people feel confident to make the switch to electric sooner,” explained Asif Ghafoor, CEO of Iduna.

“The money we’re looking to raise with this second crowdfunding round will help us convert the sites we’ve lined up, which increasingly are about developing charging hubs that will provide a range of charging speeds to meet our customers’ dwell time. We’ve got a growing pipeline of sites, we work with public and private sector partners and our focus is in the North West, to get chargers in the ground where people need them.”

The crowdfunding through Abundance is the second fundraise for the business, which raised £4m earlier this year to invest in 50 chargers, to be installed next year.

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