Andersen EV, an electric charging start-up which supplies the likes of Jaguar Land Rover and Porsche, almost tripled its sales during its latest financial year.
The Bedfordshire-headquartered company, which was formerly known as Evios, has reported a turnover of £3.7m for the year to 31 March, 2024, up from the £1.3m it reported in the prior 12 months.
Helped by the firm’s deals with Porsche and Jaguar Land Rover, the company’s UK turnover increased from £1.3m to £3.6m in the year, while its European sales grew from £5,824 to £31,570.
But the newly-filed accounts with Companies House also show that it continued to make a pre-tax loss of £1.6m in the year.
The company said, however, it was “in a very strong position to continue its growth over the next decade as electric vehicles become the norm on UK roads”.
The accounts come after the business, which was established in 2021, raised almost £4m towards the start of 2024 in a Series A funding round.
The round was led by Beringea as well as Proven VCT, Proven Growth and Income VCT.
Andersen EV said the investment “provides the necessary capital for the company to grow its strong position in this exciting new market as more and more electric vehicles appear on UK roads”.
The business added: “The directors are very focused on building the company’s UK manufacturing capability, customer service team and other support capability.”
During the year the average number of people working at the start-up grew from 24 to 39.