The startup plans to use the funding to further expand into new markets and to grow their services, specifically their Drop Power Sharing app. Among the investors were UVC Partners, BayernKapital, Ponooc, Verve Ventures, as well as Smart Energy Innovations Fond (SEIF) and BonVenture, which had already participated in ChargeX's Series-A round of €4.5 million in early 2022.
According to a study by the german "Nationalen Leitstelle für Ladeinfrastruktur", up to 14.8 million electric cars and plug-in hybrids could be registered in Germany by 2030. ChargeX therefore plans to expand its customer base and also expand abroad. The company is already active in the DACH region and has already put more than 4000 charging modules into operation there.
Charge X offers multi-socket stations for this purpose, which are characterized by a simple installation process. This means that additional charging modules can be easily connected to existing charging points without the need for specially trained workers. The company relies on short supply chains and uses only products from Germany. In addition to hardware, ChargeX also offers software in the form of the Drop Power Sharing app developed in-house. The start-up is also researching and developing bi-directional charging in the context of smart grids, so that e-cars can better contribute to smart grid stability in the future as "moving batteries".
For more information on the Series B round of funding, click here.
And this link will take you to the ChargeX website.