# ChargeWheel

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

- Industry: Power & Utilities
- Headquarters: San Francisco, US
- Website: www.chargewheel.com
- Total disclosed funding: $1M
- Latest round: Seed (Mar 26, 2019)
- Investors on record: 1

## About

ChargeWheel specializes in developing advanced fast chargers with integrated battery storage aimed at enhancing electric vehicle charging solutions for fleet operators and businesses transitioning to sustainable energy.ChargeWheel is a company that focuses on providing innovative fast charging solutions for electric vehicles. Founded by Huzaifa Muhammad, the company is headquartered in San Francisco, US. In March 2019, ChargeWheel successfully raised USD 1 million in a SEED funding round led by Right Side Capital Management, marking a significant milestone in its growth trajectory.ChargeWheel's core product offerings revolve around its patented fast chargers that combine battery storage with DC fast charging capabilities, designed for both mobile and stationary applications. The company provides two primary models: the Mobile Fast Charger and the Stationary Fast Charger, each capable of delivering charging speeds up to 200 kW with an integrated 300 kWh modular battery pack. These chargers are specifically engineered to cater to fleet operators, enabling on-demand, emergency, and fleet charging solutions while also integrating advanced software for management and predictive analytics. ChargeWheel's products are designed to serve a diverse client base that includes electric vehicle charging networks, fleet operators, and businesses seeking sustainable energy solutions. The geographical markets for these products span urban and suburban areas where electric vehicle usage is prominent, with a particular focus on regions that support renewable energy initiatives and infrastructure development.ChargeWheel generates revenue through direct sales of its mobile and stationary fast chargers, which are equipped with advanced battery storage and integrated advertising screens, providing additional revenue streams through ad placements. The transaction structure may involve business-to-business agreements with fleet operators or charging network companies, facilitating bulk purchases and ongoing service contracts. ChargeWheel's offerings are priced based on their advanced technology and modular capabilities, with specific pricing plans tailored to meet the needs of different clientele, such as public charging stations or private fleet operators. Revenue can also be derived from partnerships that leverage ChargeWheel’s technology for enhanced energy management and grid interaction, allowing stationary chargers to sell stored energy back to the grid when needed.ChargeWheel intends to utilize the recent SEED funding of USD 1 million raised in March 2019 to further develop its product line, with upcoming releases of enhanced charging solutions aimed at expanding its market reach. The company is targeting expansion into new geographic markets, focusing on regions that are increasing their electric vehicle adoption rates. Specific plans for growth include enhancing partnerships with electric vehicle networks and exploring opportunities in urban areas supportive of renewable energy initiatives. ChargeWheel's future strategies will be bolstered by the recent funding, aimed at solidifying its market position and enhancing technological capabilities.

## Funding rounds

- Seed, Mar 26, 2019, $1M — Right Side Capital Management

## Investors

- Right Side Capital Management (https://capitalatlas.ai/funds/right-side-capital-management) — Seed