# ChargeX

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

- Industry: Power & Utilities
- Headquarters: Munich, Germany
- Website: www.chargex.de
- Total disclosed funding: $17M
- Latest round: Series B (Jun 12, 2023)
- Investors on record: 7

## About

ChargeX GmbH develops advanced charging solutions for businesses, specializing in their innovative modular Aqueduct charging system that facilitates seamless installation and management of electric vehicle charging stations.ChargeX GmbH, founded in 2018 in Munich, Germany, specializes in providing charging solutions for electric vehicles. The company was established by Davit Khasia, Johannes Meschenmoser, Michael Masnitza, and Tobias Wagner, who also serves as CEO. ChargeX has successfully completed a total of 3 deals, with the most recent deal occurring on June 12, 2023, during a Series B funding round that raised EUR 11.5 million, led by Unternehmertum Venture Capital and supported by other investors including Bayern Kapital and BonVenture. The company has achieved a total amount raised of EUR 11.5 million and currently holds a valuation of EUR 76.915 million.ChargeX specializes in providing comprehensive charging solutions tailored for businesses, focusing on their modular charging system known as the Aqueduct charging system. This patented plug & play solution allows for seamless expansion and installation of charging stations suited to the needs of companies across various sectors, including hotels, car dealerships, and corporate fleets. The system is designed for fast installation, smooth commissioning, and straightforward billing, ensuring compliance with MID or calibration laws for legal operation. ChargeX serves clients throughout Germany and aims to enhance the charging infrastructure for organizations with on-site charging options for employees, fleet vehicles, and guests. Their offerings include service and maintenance packages, software for monitoring and billing, and customizable solutions to meet the growing demand for electric vehicle charging.ChargeX generates revenue primarily through direct sales of its Aqueduct charging system, which amounted to EUR 1,500,648.70 in 2021. This is supplemented by service contracts and maintenance packages for its clients. The transaction structure is predominantly B2B, focusing on partnerships with companies that require charging solutions for their electric vehicle fleets or to enhance their facilities with charging stations for employees and guests. Clients typically engage in agreements that may include upfront payments for hardware installation alongside recurring fees for service maintenance and software usage. The pricing structure is designed to cater to various business needs, providing options for one-time setup costs as well as ongoing service fees that align with the operational requirements of the charging infrastructure. ChargeX’s revenue model reflects its commitment to delivering high-quality, legally compliant charging solutions backed by reliable customer support.In June 2023, ChargeX GmbH raised EUR 11.5 million in Series B funding, led by Unternehmertum Venture Capital, with participation from Bayern Kapital, Ponooc, Verve Ventures, BonVenture, and Energie360°. The funding will be utilized to develop their patented technologies and expand the distribution network. ChargeX plans to introduce new products based on their innovative charging technology, although specific release dates have not been disclosed. The company is also looking to expand its market reach beyond Germany into additional European countries, with specific targets and timelines yet to be defined.

## Funding rounds

- Series B, Jun 12, 2023, $12M — BONVENTURE, Bayern Kapital, Unternehmertum Venture Capital, Ponooc, Verve Ventures, Energie360°
- Series A, Dec 9, 2021, $5.1M — BONVENTURE, Hevella Capital, Energie360°

## Investors

- BONVENTURE (https://capitalatlas.ai/funds/bonventure) — Series A, Series B
- Hevella Capital — Series A
- Energie360° — Series A, Series B
- Bayern Kapital (https://capitalatlas.ai/funds/bayern-kapital) — Series B
- Unternehmertum Venture Capital (https://capitalatlas.ai/funds/unternehmertum-venture-capital) — Series B
- Ponooc (https://capitalatlas.ai/funds/ponooc) — Series B
- Verve Ventures (https://capitalatlas.ai/funds/verve-ventures) — Series B