Southampton-based Dynamon Raises £4m to Optimize the EV Transport Industry
Southampton-based Dynamon has secured £4m in funding to optimize the last mile of the EV transport industry from bp ventures as part of its Series A round. This funding aims to fully commercialize and expand Dynamon’s platform across Europe and North America.
As the range of electric vehicles (EVs) and charging infrastructure options expands, fleet operators face time-consuming and costly research and trials for better solutions. However, Dynamon’s software and analysis tools are deployed globally, helping businesses decarbonize their fleets cost-effectively and streamline research and trial time.
Moreover, Dynamon’s flagship software, ZERO, plays a massive role in addressing these challenges by offering energy and capital investment cost-saving solutions. It calculates the best options for fleet electrification, including vehicle planning, charging infrastructure, energy costs, and operational analysis, empowering fleet managers to make informed decisions.
Driving in the EV Transport Industry:
During a recent 4,000-vehicle last mile trial, a customer using ZERO software identified a potential £22 million annual energy cost saving and 8,700 tonnes annual CO2 saving by analyzing the best fleet electrification solution. Moreover, Angus Webb, CEO of Dynamon, emphasized the company’s commitment to providing advanced fleet optimization tools to the transport industry. The transition to electric vehicles requires comprehensive analysis, and Dynamon’s partnership with bp ensures efficient delivery of software tools to fleets. Additionally, as the transportation and logistics industry rapidly transitions to decarbonize and optimize fleet operations, the need for cost-effective electrification solutions becomes evident. According to recent research by bp, nearly half of UK fleet managers and drivers expect to introduce EVs to their fleets within the next two years.
Advancing Towards a Net-Zero Future:
Gareth Burns, Vice President of bp ventures, expressed excitement about investing in Dynamon, stating that lower carbon energy and mobility solutions align with bp’s ambition to become a net-zero company by 2050 or sooner.
Dynamon and bp have signed a commercial agreement to use ZERO and similar tools. This collaboration will empower bp pulse to diversify its fleet proposition and enhance its premium customer offer, supporting customers in transitioning to EV solutions.
Dynamon’s cutting-edge tools empower existing EV fleets to optimize operations, manage costs effectively, enhance operational reliability, and gain valuable insights into battery degradation through data analytics. These tools help fleets make informed decisions tailored to their specific operational needs, driving efficiency and sustainability in the EV transport industry.
News Source: Dynamon