Germany-based startup ChargeX has closed its first round of financing, generating funding in the mid-six-figure range. The company will use the new capital to complete the development of its Aqueduct charging system, which is designed to enable the smart charging of multiple EVs at commercial properties and multi-family homes.
The Aqueduct charging solution is aimed at the housing industry, parking providers and fleet operators. It can be extended with additional plug & play charging points and features integrated load management to ensure that available power capacity is not exceeded. An intelligent charging algorithm uses individual mobility data to charge EVs in a time-delayed and demand-oriented manner.