EV charging firm Erapid secures €30m from Aviva Investors

20 Oct 2023

Erapid co-founder Chris Kelly. Image: Erapid

The company plans to use this phased investment to grow its team by 60 and install thousands of EV chargers across Ireland.

Irish EV charging network Erapid – the parent company of EasyGo – has received €30m from Aviva Investors to grow its team and expand its network.

The company plans to use this phased investment to expand its CarCharger and EasyGo brands, with a target of adding more than 3,000 fast chargers to Ireland’s charging network by 2032.

Erapid also plans to add more than 20,000 commercial AC chargers into buildings such as apartments and hotels. The company is establishing a new headquarters in Maynooth to support these goals and plans to grow its team by 60 staff.

Rubicon Capital Advisors, an Irish-based company and one of Erapid’s largest shareholders, will also increase its stake in the company to assist with the growth of the business.

Chris Kelly, a co-founder of Erapid, said the fresh funding will accelerate its goal of decarbonising transport and providing “accessible and efficient EV charging” to Ireland and into the UK.

“As Ireland’s largest owner and operator of charging stations, this strategic investment by Aviva Investors propels us into an exciting phase of growth,” Kelly said. “One of the immediate goals resulting from this funding is the significant expansion of our network, including the roll-out of more than 3,000 fast chargers. We will also be hiring for up to 60 new roles across operations, customer support and sales.”

Earlier this year, Erapid announced a €1m investment to install 24 EV charging units in 21 locations across Mayo, supported by Mayo County Council. The company has also partnered with Eir to install hundreds of charging points nationwide.

“The EV sales market in Ireland is booming but needs the infrastructure to catch up,” Kelly said. “This investment combined with our history of introducing the latest charging technology to Ireland means we are well positioned to create and scale a seamless EV charging network that supports a sustainable future.”

The company claims to currently manage more than 4,000 charging points in 1,500 locations across the island of Ireland.

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Leigh Mc Gowran is a journalist with Silicon Republic