ChargeX, a Munich, Germany-based provider of a charging solution for electric cars, raised €11.5m in Series B financing.
The round was led by UVC Partners, with participation from Bayern Kapital with the Bayern 2 growth fund, Ponooc and Verve Ventures, and existing investors Energie 360° and BonVenture.
The company intends to use the funds to further develop its patented technologies such as the “Aqueduct” charging system, accelerate expansion into other European markets and expand its range of digital services.
Led by Michael Masnitza, COO, and Tobias Wagner, CEO, ChargeX develops and produces charging infrastructure solutions and products for electric vehicles. Aqueduct is an intelligent and patented multiple socket for electric cars. It enables many vehicles to be charged with one connection. The grid-supporting system can be expanded to up to 10 charging points via Plug&Play and distributes the energy to the vehicles to be charged as required.
The company has already installed several thousand charging points. More than 500 companies with several thousand charging modules already use its charging products.
FinSMEs
07/07/2023