Orange Charger Raises $6.5M in Seed Funding

Orange Charger, a San Francisco, CA-based provider of EV charging solutions, launched $6.5m in seed funding.

The round, which brought Orange’s total funds raised to $8.8m, was led by Munich Re Ventures and Climactic, with participation from Baukunst, Lincoln Properties Ventures, Crow Holdings, and Space Cadet Ventures.

The company intends to use the funds to expand operations and its development efforts.

Led by Nicholas Johnson, Founder and CEO, Orange provides an Energy Management Solution for multifamily homes. The latest model of EV chargers and software platform is purpose-built for multifamily properties to serve 43 million Americans.

Orange’s Level 2 outlets are $750 each, and property owners can install four Orange chargers for the price of one standard charger without expanding the capacity of their electricity panel.

Since its inception, Orange Charger has deployed around 2,000 units at apartment complexes across the nation. These chargers are enabled with OrangeNet, a mesh technology that allows chargers to communicate with each other to maintain connection without additional networking requirements.

Once drivers download the Orange app, they can scan the QR code on the chargers, enter their credit card information, and start charging. OrangeOS tracks and manages charger use and reimburses the property for energy costs. It also enables property owners to control access to chargers and manage all their properties’ chargers in one place.

FinSMEs

15/05/2024