Indra receives over £20 million in funding
British company Indra announced that it completed its oversubscribed Series B funding round. According to the company, investors paid more than £20 million for Indra to continue its work on bidirectional charging technology. Gulf Oil International led the investment.
“This additional investment shows the depth of confidence in our ground-breaking technology as we continue to push boundaries and unlock the potential of EVs as portable energy sources for a sustainable, greener energy ecosystem,” says Indra CEO Adrian Moores.
According to Indra, the additional cash will also help it “grow its customer base, increase revenue stream in UK and international markets and accelerate the development of its home EV charging hardware and technology platform.”
Indra recently made the news for two V2G or V2X projects in the UK. In the first one, the Virtual Bunkering for Electric Vessels (VBEV) project, Indra is working with partners to advance the development of bidirectional charging technologies for electric boats. In January, Indra announced it is providing hardware for the consortium INFLEXION. The latter launched a vehicle-to-everything solution (V2X) that could save drivers hundreds of pounds annually.
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