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.
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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