SparkCharge Secures $23 Million for On-demand EV Charging


SparkCharge, the first mobile EV charging network worldwide, announced that it will continue its efforts to scale the network with a Series A investment of $23M from Tale Venture Partners and Pendulum. SparkCharge also received investments from Revolution’s Rise of the Rest Seed Fund and Silicon Valley Bank. Summer Watson and Pusha-T are two of the prominent celebrities who joined the round. This indicates a shift in response to consumer demand for easier EV charging solutions.

“The chance to lead SparkCharge’s Series A fits perfectly within what we want do at Tale – continue backing entrepreneurs building compelling businesses and investing into compelling and innovative businesses that can generate outsized results and outcomes while showing the two don’t have to be mutually exclusive,” Ed Jean Louis, co-founder and managing director at Tale Venture Partners. We saw the potential in SparkCharge in 2019, and today the data is even clearer. We couldn’t feel more excited to partner with Josh and his entire team as they revolutionize electric vehicle charging, and accelerate EV adoption.

Pendulum only invests in entrepreneurs and leaders of color. We are particularly interested in those who we believe will transform the industry. Rish Sinha (Managing Director at Pendulum), said that SparkCharge’s growing demand is a clear indicator how crucial the company’s next stage of growth is. SparkCharge is a natural fit for Pendulum, as it has the potential to play an important part in the evolution of the EV industry. We look forward to working with SparkCharge in order to bring this accessible, essential solution to the market.

ALSO READ  Heavy Industries Ministry Plans To Increase Prices For Electric Two-Wheelers Under FAME-II Scheme

SparkCharge has experienced record-breaking growth in the last few months, with currently exceeding 100,000 miles of range delivered for EV owners. The Currently App is on track to provide millions of miles of electric vehicle charging this year. This will reduce over 85 tons CO2 emissions. The Currently App will continue to offer more solutions throughout the year, all of which are focused on making EV adoption easier.

SparkCharge will benefit from the funding to expand its operations. SparkCharge currently offers an on-demand mobile charging app, which allows users to order a charge to their EVs. This funding will allow SparkCharge to expand to more than 20 markets and to create new mobile charging products. SparkCharge will also help drivers to make an informed decision about switching to electric vehicles, and less dependence on gasoline-powered cars, by eliminating barriers to charging.

SparkCharge CEO Josh Aviv said, “We are humbled that our existing and new investors believe in and want be part of our journey for continuing revolutionizing mobile charging industry.” We will be able to scale up our EV network, regardless of infrastructure, because of the rapid growth of the EV market and the significant gaps in charging access. Our team will be able to reach markets that no one else can, and meet the needs of owners and fleets in the country’s major cities and suburban areas.

ALSO READ  Battery Smart Raises Rs 272 Crore In Funding Round; To Expand Battery Swapping Network

This funding follows SparkCharge’s impressive achievements in 2022. SparkCharge has established partnerships and programs with many global brands that leverage its mobile charging technology. These include Hertz, Uber and Kia Motors. SparkCharge’s app, Currently, has been launched in four cities and plans to expand into additional markets.

“SparkCharge is thriving because it offers a unique concierge service while everyone else pushes the same old, same-old self serves,” Mark Cuban (founder of Mark Cuban Companies) added. It is now easy to charge and affordable for a growing industry. Reinvesting in them was an easy choice.

SparkCharge will unveil several new products and major updates during its annual showcase SparkDay. This event will take place in August at the company’s headquarters in Somerville MA. It will have a significant impact on electric vehicle charging.

Joshua Aviv, founder and CEO of SparkDay, says that the products revealed on SparkDay will allow for a fundamental change in how people view EV charging. We will disrupt the way EV charging is done today at its core. This will allow the world to see a seamless, connected method of EV charging. It effectively removes the EV owner entirely from the EV charging equation. This is a first-of-its kind, but it will allow for mass adoption of electric cars around the world.

ALSO READ  Bajaj Auto's Domestic Sales Of Chetak Electric Scooter Soar Over Four-Fold In FY23

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.