Connekt EV Charging: Powering the EV revolution with strategic investment

Connekt EV Charging, a leading provider of electric vehicle (EV) charging solutions, has announced a significant milestone with a £220,000 investment from two private individuals. This strategic investment will bolster Connekt’s expansion plans and enhance its position as a key player in the UK’s rapidly growing EV market. It follows on from an earlier £250,000 investment from IFS (Investment Fund for Scotland) which allowed Connekt to install its first fully-funded Rapid charging hub on the grounds of Cameron House.

The investment comes from Craig Johnstone, CEO and Founder of Giglets, and Keith Campbell. Both investors bring a wealth of experience and a shared vision for sustainable transportation. This funding will enable Connekt to scale its operations, enhance its management team, and drive innovation in the EV charging sector.

Founded in June 2022 by Ayrshire entrepreneur Johnny Manning, Connekt has quickly established itself as a reliable and innovative provider of EV charging solutions. With more than 400 charging points installed across the UK, Connekt is committed to delivering high-quality, reliable charging infrastructure. The company boasts an impressive reliability rate of 99.13%, significantly higher than the UK average of 72% to 87%.

The recent investment will be used to strengthen Connekt’s management team, including the addition of a new Finance Director, Kate Proctor from Trip CBD drinks, as well as a full time Operations Director, Julie Cassidy, and Technical Director, Liam Fogerty. Further to this, existing Non-Executive Director Scott McCulloch, who co-founded and sold a plant-based ecommerce store, TheVeganKind, during lockdown, will now oversee the company’s marketing strategy, while existing Non-Executive Director Hugh Aitken, a well-known tech leader, has assumed the role of Chairman of the Connekt Board.

This enhanced leadership team will drive Connekt’s ambitious plans to develop rapid charging hubs across the UK.

The UK’s EV market is experiencing rapid growth, driven by technological advancements, reduced costs of EVs, and improved ease of charging. The UK government has set ambitious targets to ban new petrol and diesel car sales by 2030, further accelerating the transition to electric vehicles. This shift is supported by significant investments in charging infrastructure, including a £1.6 billion investment to install 300,000 new charge points by 2030.

Connekt is well positioned to capitalise on this growth. The company’s business model involves a bespoke customer funded option where the client covers the rental cost with the charging revenue as well as a funded option for Rapid charging hubs that provide a substantial recurring revenue stream to the business. This model, combined with Connekt’s focus on reliability and customer service, has enabled the company to build a strong reputation in the market.

Johnny Manning, Founder of Connekt, commented: “I am personally delighted to welcome Craig to Connekt’s board. Not only has he joined us to form our board, but he also believes in the incredible work the team is doing, taking it a step further by investing in the business.

“I had the privilege of being in the same cohort as Craig in the exceptional Scale Up Scotland programme, where I witnessed firsthand his entrepreneurial success with Giglets. Hearing how he scaled that business from its inception to a multi-million-pound international enterprise was truly inspiring. His character, unwavering belief, and relentless adaptability in building a scaling business will undoubtedly bring immense value to Connekt and to our entire team.”

Paula Skinner, head of the entrepreneurial team and partner at Harper Macleod, advised longstanding client Craig Johnstone on his investment into Connekt. Harper Macleod had previously advised Craig  on the sale of his edtech service provider business, Giglets, to the Swedish company ILT Education.

Paula said: “We are proud to have supported Craig on his investment into Connekt. It’s particularly rewarding to come full circle having advised Craig when he sold Giglets, to now support him on his investor journey. Johnny and his team have demonstrated exceptional innovation and commitment to sustainability. This funding will not only enhance their capabilities but also contribute to the broader goal of reducing carbon emissions and promoting green transportation.”

Craig Johnstone, CEO and Founder of Giglets and investor, stated: “Investing in Connekt was an easy decision. Under Johnny’s stellar entrepreneurial leadership Connekt has made significant progress in a short period of time and continues to accelerate. The company’s focus on reliability and customer satisfaction, combined with its innovative business model, positions it as a leader in the EV charging sector.

“Having the support of Paula and the team at Harper Macleod was a pleasure as always and supported both me as an investor and Johnny as a Founder getting a good deal over the line for all parties.

“Johnny has proven himself to be exactly the sort of scale-up entrepreneur that we need here in Scotland. I was humbled to be asked by Johnny not only to be an investor in the business but also to support Connekt’s journey as a Non-Executive Director – particularly so during this critical scale-up phase. I’m excited to support Connekt’s growth, see it thrive and lead in a fast-growing sector whilst contributing to the growth of sustainable transportation in the UK.”

Connekt is gearing up for a Series A funding round of £5 million to further expand its installation capacity and achieve its goal of deploying 5000 EV chargers, inclusive of 100 Connekt funded rapid charging hubs. With the Scottish Government’s Charge Place Scotland scheme disbanding by 2025, there is a significant opportunity for private sector companies like Connekt to step in and provide reliable charging infrastructure.

As the EV market continues to grow, Connekt is committed to leading the way with innovative solutions that integrate seamlessly into the lifestyles of EV drivers. With a strong foundation and strategic investment, Connekt is poised for continued success and growth in the years to come.

Pictured (left to right): Johnny Manning, Founder of Connekt, with new investor Craig Johnstone, CEO and Founder of Giglets.