ChargeLab raised $15 million to expand its first API electric vehicle (EV) charger management platform. It completed its funding round, co-led by Root Ventures and Construct Capital, in 2021. The Series A raise brings the company’s total funding to over $20 million. Megan Guy will join the ChargeLab Board of Directors as the round closes.
“My partners and I have already seen the power of large-scale energy management software solutions,” says Megan Guy, co-founder and partner at King River Capital. “Electric vehicle charging is a messy and inefficient experience for consumers and businesses today. King River believes that ChargeLab is positioned to become the leading provider of back-end software for the electric vehicle charging industry and deliver a reliable, high-quality experience for the entire ecosystem. That’s why we were excited to lead this round.
ChargeLab creates software to operate and optimize electric vehicle charging equipment. ChargeLab’s software works at the edge and in the cloud, allowing fleets, building operators and utilities to deploy large numbers of EV chargers and manage them as an intelligent network.
“As the electric vehicle market continues to experience massive growth, the value proposition of ChargeLab’s hardware-independent software becomes increasingly apparent to both vendor and user,” said Malin Carlstrom, Head of Enterprises at ABB. EL Ventures. “We believe that Zak and his team are on the verge of creating the Android of charging systems, and that ABB can be a strategic and financial partner, delivering significant benefits to both parties.”
ChargeLab does not build any hardware. Instead, the company partners with EV charger makers like ABB, Phihong, United Chargers, Siemens and Tritium. ChargeLab and these manufacturers are part of an open EV charging ecosystem driven by the Open Charge Point Protocol (OCPP).
“ChargeLab’s vision is to connect millions of EV chargers over the next decade,” comments Zak Lefevre, co-founder and CEO of ChargeLab. “The road to achieving this goal begins today. We are committed to making EV chargers more reliable for EV fleets and drivers. “We also make it easier for businesses to deploy and manage EV chargers with modular software and open APIs,” adds Ehsan Mokhtari, co-founder and CTO. “Our configuration tools help installers deliver EV chargers in minutes instead of days, our automated monitoring makes EV charger operations easier, and our web-based app allows end users to recharge simply by scanning a QR code. “