Gridtest Systems Inc., a manufacturer of test equipment for electric vehicle chargers, received a round of seed investment from two groups, the Pasadena Angels and Tech Coast Angels.
The Westlake Village-based company will use the money to speed up the development and go-to market strategy of its first product, the EV Emulator EV-E-100L, which is used in the research and development labs of the charging system manufacturers and product suppliers.
The investment amounts from the two angel groups were not disclosed. The groups invested in Gridtest after the company demonstrated it had key customers in North America, Europe and the Asia-Pacific.
Gridtest was pleased that investors recognized the company’s achievements and its commitment to being a leading player in the electric vehicle infrastructure testing market, said founder and CEO Neal Roche.
“We’re delighted to close this funding round, which crucially allows us to target all our priority markets with a key product that our customers and prospects have been telling us is urgently needed,” Roche said.