SparkCharge raises $3.3 million to scale production of its portable, modular charger

SparkCharge, which was profiled in the July/August 2019 issue of Charged, has developed a portable, modular charger that’s designed to provide anytime/anyplace charging on demand.

Now the company has announced the closing of $3.3 million in seed round financing led by Point Judith Capital (PJC) with participation from Revolution’s Rise of the Rest Seed Fund, PEAK6 Strategic Capital, M&T Bank and Tale Venture Partners. This round brings SparkCharge’s total funding to $5 million since its 2017 launch. The company plans to use the new investment to scale up manufacturing and aggressively expand development of its products.

SparkCharge’s Portable Ultra-Fast Charger is 100% electric, and is charged using traditional 120- or 240-volt household outlets, avoiding the air pollution that would be created by a gas-powered EV charger. Potential customers include roadside assistance companies, insurance firms, delivery companies, hotels and automakers.

Modules are easily stacked on top of each other, like Lego blocks, to increase the range delivered. The system is compact and light: it’s designed to fit easily in the trunk of a car and to be easily carried by hand. According to SparkCharge, it’s capable of adding range at a rate of one mile per minute of charging.

“We focus on listening to our customers and the EV market to create a product that will effectively remove the barriers to electric vehicle ownership,” says SparkCharge founder and CEO Joshua Aviv. “Our product opens the door for utilities, cities, roadside assistance and on-demand service companies to provide range to EVs faster and more effectively, regardless of location.”

“EV sales growth is far outpacing the infrastructure growth needed to support such a thriving market,” says Zaid Ashai, Venture Partner at PJC. “This dynamic puts SparkCharge’s innovative portable ultra-fast chargers in a position to partner with new and existing businesses to cure range anxiety.”

Source: SparkCharge

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