Southampton, United Kingdom-based software company that specializes in developing advanced data analytics and simulation tools for commercial transport and logistics companies, Dynamon raised GBP 4 million (EUR 4.6 million) in funding. The round took place on August 3, 2023. bp led the investment for the firm via bp Ventures.
In addition, the company signed a commercial agreement with bp to optimize lower-emission solutions for fleets and develop a premium offer for customers and also utilize ZERO or similar tools.
Purpose of financing for Dynamon
The financing is a part of the company’s Series A round. With the recent proceeds, the company aims to fully commercialize and scale up its platform. It also has plans to fund the expansion of its operations across regions such as Europe and North America.
The agreement allows bp to diversify its fleet proposition and further develop its premium customer offer. In addition, it provides customers with support as they increasingly look to adopt EV solutions.
What does the company’s official has to comment
Angus Webb, CEO of Dynamon, said, “It is our mission to bring the most advanced fleet optimization tools to the transport industry. This is becoming increasingly critical with the transition to electric vehicles requiring fleets and suppliers to perform complex analysis to ensure that solutions will be robust and cost-effective. We are delighted to be partnering with bp to deliver our software tools to fleets. With a strong heritage in engineering and technology and servicing fleets globally, bp is a perfect partner for Dynamon’s growth.”
What the investors have to comment
Gareth Burns, Vice President of bp ventures, further added, “Faster adoption of lower carbon energy and mobility solutions will help drive bp towards meeting its ambition to become a net zero company by 2050 or sooner and helping the world get to net zero. We’re very excited to be investing in Dynamon, an EV fleet software business deploying software as a service and data science to help the commercial transport industry transition to lower carbon energy fleets.”
About the company
Angus Webb launched the company in 2015. Dynamon’s flagship software ZERO develops solutions that could save energy and capital investment costs. It includes calculating the best options for adoption through planning for vehicles, charging infrastructure, energy costs, as well as operations analysis.
Dynamon’s tools are compatible with existing EV fleets. It gets the most out of its operations, addresses cost management, and supports operational reliability. It further helps to gain a deeper understanding of battery degradation through data analytics that present the best options for their operational needs.
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