Depot charging software specialist TOGL has secured a pre-seed investment round of £850,000 to support its rollout of fleet electrification.
The money will be used by the company to grow its team, develop its technology and accelerate its work with fleet operators, energy partners and other industry stakeholders.
TOGL, through its software, schedules depot charging around departures rather than arrivals, aiming to shift charging into lower-cost periods, reduce unnecessary peaks, fit more vehicles onto the existing connection, and keep every vehicle ready for its shift.
The round was led by Haatch, the angel syndicate platform and key investment manager for the British Business Bank, with additional investment from Setanta Vehicle Importers, the authorised Renault Trucks importer in Ireland, and Lancashire-based angel investors Fhunded Angels.
TOGL has also announced a trial with Welch Group through the fifth Freight Innovation Fund Accelerator, delivered by Connected Places Catapult on behalf of the Department for Transport (DfT).
One of 11 SMEs selected to develop a trial, TOGL will examine how much charging flexibility exists within Welch’s haulage operation without interfering with its transport schedule.
Will Maden, CEO and Co-Founder of TOGL, said, “Across the UK, depot electrification often stalls because the numbers simply do not add up, whether that is the total cost of ownership of the vehicles or the discovery that, after procuring vehicles and chargers, the depot does not have sufficient grid capacity to operate them.
“This investment gives us the resources to expand the TOGL team, continue developing our technology and help fleets solve this exact problem.
“Alongside this, the opportunity to work with Welch Group means we can develop a trial around real vehicle movements.”
