Electric Miles, a platform providing electric vehicle drivers with a smart, cheaper, greener charging service while providing a demand flexibility service to the grid, has received seed funding from the Low Carbon Innovation Fund.

With the company’s app, drivers set their ‘car ready time’ and Electric Miles ensures the vehicle is charged with the cheapest and greenest energy available.

Turquoise, the UK merchant bank which manages the LCIF II fund, recently announced a £150k investment in Electric Miles.  LCIF2 led the £776,000 equity round which included co-investors Vipul Amin, founder of uSwitch and owner of Kelkoo; and Blue Lake VC.

LCIF2 is supported collaboratively by Cambridgeshire and Peterborough Combined Authority, New Anglia LEP and Hertfordshire LEP.  £2.7m of Hertfordshire’s European Regional Development Fund allocation has been provided to support Low Carbon projects across the region.  To date four investments totalling £805,000, including Electric Miles, have been made in Hertfordshire based companies.

The LCIF2 Fund closes to new investments in December 2023. LCIF2 is interested in hearing from clean technology venture companies seeking investment and operating in the geographical areas covered by Local Enterprise Partnerships backing LCIF2.  Details of how to apply can be found here https://lcif.vc/apply/