Series: A
Co-Investors: Cleveland Avenue, PJC, TechStars, Sunhope Ventures, Laven, and 43North. Funded by Shark Tank Investors Mark Cuban and Lori Greiner.
Earlier Investors: PJC, TechStars, Sunhope Ventures, Laven, and 43North. Funded by Shark Tank Investors Mark Cuban and Lori Greiner.
Date of Investment: December 2022
Investment Amount: $2,000,000
Summary: SparkCharge is the first to create a portable EV charging system, offering Charging-as-a-Service to make EV charging convenient, simple, and grid-free for owners, managers, and operators.
Product offering:
SparkCharge Connect: A Mobile charging platform for EV fleets with Charge Management Software for seamless management, visibility on operations, real-time status, and increased efficiency for fleet vehicles.
SparkCharge Mobile: Network provides grid-free EV charging on demand, utilizing portable battery systems for convenient, scalable, and turnkey solution. Software and hardware combine for efficient charging-as-a-service.
- Contracted ARR of $22M for 2024 and is on track to reach profitability in 2024, a year ahead of schedule.
- Between January 2023 and February 2023 alone Sparkcharge secured contracts with a revenue value of $3.5 million, representing 35% achievement of planned revenue target.
- Contracts secured in 2023 include Hertz, ZipCar, Cruise, Amazon, Avis, Lyft, Geico, AAA.
- Marathon Capital has been selected to run SparkCharge’s Series B fundraise with an anticipated close in early 2024.
SparkCharge is the first to create a portable EV charging system, offering Charging-as-a-Service to make EV charging convenient, simple, and grid-free for owners, managers, and operators.
