Edinburgh software start-up seeks capital injection for electric vehicle drive
An Edinburgh software consultancy is seeking investment to drive development of its own energy-saving product aimed at electric vehicle (EV) owners.
ClearSky Logic, which launched last year with a vision to become a “technology powerhouse” in the capital, is looking to expand its consumer-facing arm to capitalise on the growing EV market.
It is currently funding development of its flagship Evie system, which includes a tool for comparing charging costs and finding the best EV to meet a customer’s needs, through consultancy projects for commercial clients, including offering a “virtual chief technology officer” service.
The start-up was founded by Darren Auld and Phil Telfer, who were formerly IT leaders at Selkirk-based Spark Energy where they led on the design and delivery of key business software including a billing system that turned over in excess of £400 million per year.
Auld told The Scotsman: “We found a lot of people with EVs are just staying on their current home electricity tariff, and that’s a really bad deal for consumers.”
He added: “By going on the right tariffs, which have been around for a little while but haven’t really been publicised, that can save customers that are charging an EV three-quarters of the cost.”
ClearSky recently agreed terms with supplier Twenty Energy to provide an energy tariff designed to lower EV bills through the Evie platform.
The business has also expanded its team to include a marketing specialist, now employing seven staff in total, and intends to double its development staff over the next six months.
The start-up is currently in talks with multiple investors as its seeks a funding partnership to further develop its offering.
Auld said: “We’re very technically-minded. We’re looking for a partner to come in with know-how and contacts. We want to get our product live and revenue-generating as soon as we can.
“EVs are on the fringes of mainstream at the moment and the difference that is going to bring for consumers is huge.
“There’s a lot of confusion in the consumer market around EVs. Sometimes you hear things that are not quite true, like the battery will run out very quickly or it will cost too much.
“We’re trying to build products to eliminate those concerns, show how customers can save their money and give them the best EV experience.”
ClearSky is also planning to roll out additional services, including a smart charging app that would allow users to plug in their EV and charge it only at the most cost effective times.