# ChargeLab

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/chargelab

- Industry: Renewable Energy
- Headquarters: Toronto, Canada
- Website: www.chargelab.co
- Total disclosed funding: $20M
- Latest round: Series A (May 19, 2022)
- Investors on record: 10

## About

ChargeLab Inc. provides innovative electric vehicle (EV) charging software solutions, enhancing operations for various stakeholders in the EV charging ecosystem. Its offerings include management software, white-label solutions, and intuitive applications for users.Founded in 2015 and headquartered in Toronto, Canada, ChargeLab Inc. specializes in EV charging software solutions. The company has not undergone significant strategy changes but has successfully pursued funding rounds, including a recent VENTURE DEBT round. ChargeLab was co-founded by Ehsan Mokhtari and is currently led by CEO Zak Lefevre. As of April 2023, ChargeLab has completed a total of 5 deals, raising USD 10.00 mn in its latest round, attracting investors like Silicon Valley Bank.ChargeLab specializes in electric vehicle (EV) charging software, offering comprehensive solutions for the EV charging ecosystem. Its core products include enterprise software for managing charger operations, white-label solutions for brands entering the EV market, and user-friendly applications. ChargeLab’s software supports a wide range of OCPP-compliant chargers, catering to network operators, fleet managers, and EV charging solution providers mainly across North America. The company partners with brands like EVBox and My EV Charger to extend its market presence in the growing EV sector.ChargeLab generates revenue through subscription models and partnerships within the EV charging industry. Clients access the enterprise software via a subscription, which provides ongoing management capabilities for their charging networks. Additionally, ChargeLab employs a revenue-sharing model, earning a percentage from transactions processed through its platform. The diverse revenue streams include B2B transactions with fleet operators and collaborations with charging networks, reflecting the company’s focus on supporting sustainable EV infrastructure.Following its recent funding round in April 2023, where ChargeLab raised USD 10.00 mn, the company plans to leverage this investment to expand its engineering team and introduce new products to the market. This funding is part of a larger USD 30 mn Series A and debt round aimed at enhancing ChargeLab's capabilities. Looking ahead, ChargeLab intends to explore growth opportunities in new geographic markets, although specific regions have not been disclosed.

## Funding rounds

- Series A, May 19, 2022, $15M — ABB Technology Ventures, Root Ventures, Third Sphere, Highline BETA, Maple VC, King River Capital, Construct Capital
- Seed, Feb 23, 2021, $4.3M — Root Ventures, Expansion Venture Capital, Third Sphere, Notation, Urban-X, Highline BETA, Construct Capital
- Seed, Mar 16, 2020, $1.1M — Third Sphere, Notation, Urban-X, Highline BETA

## Investors

- Third Sphere (https://capitalatlas.ai/funds/third-sphere) — Seed, Series A
- Notation (https://capitalatlas.ai/funds/notation) — Seed
- Urban-X (https://capitalatlas.ai/funds/urban-x) — Seed
- Highline BETA (https://capitalatlas.ai/funds/highline-beta) — Seed, Series A
- Root Ventures (https://capitalatlas.ai/funds/root-ventures) — Seed, Series A
- Expansion Venture Capital (https://capitalatlas.ai/funds/expansion-venture-capital) — Seed
- Construct Capital (https://capitalatlas.ai/funds/construct-capital) — Seed, Series A
- ABB Technology Ventures (https://capitalatlas.ai/funds/abb-technology-ventures) — Series A
- Maple VC (https://capitalatlas.ai/funds/maple-vc) — Series A
- King River Capital (https://capitalatlas.ai/funds/king-river-capital) — Series A