Electric Era Technologies, a Seattle, WA-based company which specializes in EV fast-charging infrastructure with its proprietary PowerNode™, raised $11.5M in Series A funding.
The round, which brought the total amount to $19M, was led by HSBC Asset Management with participation from SQM Lithium Ventures, Blackhorn Ventures and Proeza Ventures.
The company intends to use the funds to increase EV drivers’ access to high-speed charging at quick service retail locations leveraging patented technology developed by former SpaceX engineers.
Led by Quincy Lee, CEO and Founder, Electric Era offers proprietary PowerNode EV charging stations and AI-driven software platform that deliver electrical grid-friendly charging at gas stations, convenience stores and quick service retailers across the United States.
The company’s built-in battery automatically discharges to support increased charging on-demand, lowering the draw on the grid and enabling more charging sessions per day for a lower cost. Installation of a charging system can be completed in as little as 16 weeks by avoiding local grid infrastructure upgrades, versus several months or longer with existing solutions.
FinSMEs
22/08/2023