Andersen EV is a designer of smart, sleek electric vehicle chargers. Andersen uses industrial-grade electronics to deliver enhanced performance, as well as advanced software for a range of smart charging functionality.
We invested £1m into Andersen, a business introduced via the ‘Women in VC’ network. As part of the transaction, Rob Mouser was introduced as Executive Chair. Rob led realised investment Plastic Surgeon to a 5.6x money exit in 2019.
Investment rationale
In the UK, sales of battery electric vehicles almost tripled in 2020, according to data from the Society of Motor Manufacturers and Traders, with plug-in cars now accounting for more than 10 per cent of UK sales. Andersen grew revenues by over three and a half times in the year to February 2020 and is well positioned to benefit from a ‘green’ recovery post-COVID-19. Andersen will invest in operations, sales and customer support, and increase production.
