char.gy Funding, Investors & Competitors
char.gy has raised $214M across 3 funding rounds, most recently a $127M Series C in June 2024.
Last char.gy funding round
$127M
Series C · Jun 2024
Cumulative funding char.gy raised
$214M
across 3 funding rounds
Key investors in char.gy
Zouk Capital
About char.gy
char.gy is a UK-based operator of residential street EV charging stations mimicking home charging convenience. Stations in London and Manchester neighborhoods provide dependable access for electric vehicle drivers via app-controlled sessions.
Founded
2016
HQ
LondonWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Usage-based
char.gy Funding History
char.gy has raised a total of $214M across 3 funding rounds.
char.gy's first fundraising round was a $9M Series A in June 2021. The most recent completed round was a $127M Series C in June 2024.
char.gy funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2024 | Series C | Zouk Capital (lead) | $127M | char.gy is a UK-based electric vehicle charging infrastructure company that develops and operates on-street charging solutions for local authorities. The company works with UK councils to facilitate the installation of public charge points, operating as a trusted partner in the government's broader EV infrastructure rollout. On June 19, 2024, char.gy secured an increased funding commitment of £100 million from Zouk Capital, the fund manager for the UK Government-anchored Charging Infrastructure Investment Fund (CIIF). This represented a continuation of previous investments, with char.gy having received £6.4 million in 2021 and approximately £65 million by 2022, bringing the total investment to £100 million by this round. The CIIF itself is a £420 million public-private fund established by the UK Government in 2019 to accelerate EV charging infrastructure deployment across the country. With this funding, char.gy aims to expand its charging network from over 3,600 chargepoints at the time of the announcement to approximately 100,000 by 2030, supporting up to 1 million drivers. The company plans to direct the investment toward rollout of additional charge points over the subsequent five years, partnering with local councils to provide equitable public access to charging infrastructure. This expansion is positioned against the backdrop of the UK having around 60,000 public charge points, highlighting the scale of char.gy's growth ambitions. The investment underscores Zouk Capital's continued confidence in char.gy's mission to make EV ownership viable for residents without off-street parking, addressing a critical gap in the UK's transition to electric vehicles. CEO John Lewis emphasized the company's commitment to ensuring EV adoption is accessible to everyone and creating parity between those with and without private parking facilities. |
| Jan 2022 | Series B | Zouk Capital (lead) | $79M | char.gy is an electric vehicle (EV) charging company founded in 2016, based in London, focused on on-street charging infrastructure for the 40% of UK households without off-street parking. It builds a software platform, manufactures charge points, and partners with local authorities, primarily in England, with nearly 1000 charge points deployed mainly in London and Coventry as of earlier reports. The business model involves local authorities funding 75% of capital costs via OZEV grants, with char.gy operating the points, covering maintenance and electricity, retaining most revenue, and sharing a small portion with authorities. Zouk Capital has been the sole investor in char.gy across multiple rounds through the UK Government-anchored Charging Infrastructure Investment Fund (CIIF). The first round was £6.4 million in 2021 (noted as around June 29, 2021 in some data), followed by a second round in 2022 that increased total investment to £65 million. A third round increased commitment to £100 million as of June 2024 (Private Equity - II for $44.55M equivalent), with total raised approximately $53.41M over two rounds per aggregated data, though GBP figures suggest higher cumulative commitment. Recent traction includes over 3,000 chargepoints operational as of 2024, with ambitions to reach 100,000 by 2030 to support 1 million drivers amid the UK's ~60,000 public chargepoints. char.gy positions as a key partner for local councils under LEVI fund extensions. Zouk Capital emphasizes char.gy's role in equitable EV access and exponential market growth, collaborating on public-private initiatives. The company competes in the UK EV charging sector, with peers like Believ also backed by Zouk via CIIF for similar on-street residential deployments. |
| Jun 2021 | Series A | Zouk Capital (lead) | $9M | char.gy is a UK-based electric vehicle charging company founded in 2016, focused on solving on-street EV charging infrastructure for the 40% of the UK population without off-street parking. The company designs, manufactures, and deploys charge points while operating a software platform that manages the network. char.gy's business model involves selling charge points to Local Authorities and collecting operating revenue, with local authorities receiving a share of revenue after operational and maintenance costs are covered. In June 2021, char.gy secured its first institutional funding round of £6.4 million from Zouk Capital through the UK Government's Charging Infrastructure Investment Fund (CIIF), a £420 million public-private initiative launched in 2019 to accelerate EV charging deployment across the UK. By the time of this first investment, char.gy had nearly 1,000 charge points deployed across the UK, with the majority concentrated in London and Coventry, positioning the company to expand into both the public and private charging sectors. |
Who has invested in char.gy?
1 investor has backed char.gy across its funding rounds, including Zouk Capital.
Lead investors include Zouk Capital.
char.gy Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Start Free Trialchar.gy Competitors
char.gy competitors include listed companies like Sigenergy Technology Co, Tesla and CATL, and private ones like Electrify America, Electric Vehicle Infrastructure Company and Ample.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 China | Publicly listed | $1.3B | $504M | $9.8B | 3.9x | |
 Reston, VA | Private | - | - | $2.5B | - | |
 Jeddah | Private | - | - | $1.1B | - | |
| San Francisco, CA | Private | - | - | $1B | - | |
| United States | Publicly listed | $95B | $10B | $1.4T | 13.8x | |
| China | Publicly listed | $63B | $16B | $214B | 2.1x |
char.gy Public Comps
char.gy is still privately-owned, but its public comps include Tesla, CATL, Enbridge, BYD, Williams Companies, Enterprise Products, Energy Transfer, Kinder Morgan, Volvo and TC Energy.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $63B | $16B | 2.8x | 2.1x | 11.0x | 9.2x | |||
| $47B | $15B | 4.2x | 3.6x | 13.3x | 13.3x | |||
| $120B | $18B | 0.9x | 0.9x | 6.3x | 5.8x | |||
| $12B | $7.4B | 10.1x | 9.8x | 16.4x | 14.6x | |||
| $53B | $9.6B | 2.2x | 1.9x | 12.3x | 11.0x | |||
| $86B | $15B | 1.9x | 1.5x | 10.5x | 8.8x | |||
| $17B | $8.2B | 6.1x | 5.8x | 12.5x | 11.6x | |||
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Common questions about char.gy
| When was char.gy founded? | char.gy was founded in 2016. |
| Where is char.gy headquartered? | char.gy is headquartered in London, United Kingdom. |
| Is char.gy publicly listed? | No, char.gy is a private, VC-backed company. |
| How much funding has char.gy raised? | char.gy has raised $214M across 3 funding rounds. |
| What was char.gy's last funding round? | char.gy's last funding round was a $127M Series C in June 2024, led by Zouk Capital. |
| Who are char.gy's investors? | char.gy's investors include Zouk Capital. |
| Which companies are comparable to char.gy? | Companies comparable to char.gy include Sigenergy Technology Co, Electrify America, Electric Vehicle Infrastructure Company, Ample, Tesla and CATL. |
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