# Innovate Energy Solutions

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/innovate-energy-solutions

- Industry: Energy Storage & Batteries
- Headquarters: London, UK
- Website: www.chargedup.green
- Total disclosed funding: $11M
- Latest round: Series A (Jan 4, 2022)
- Investors on record: 5

## About

Innovate Energy Solutions Ltd. specializes in providing self-service phone charging solutions to enhance customer convenience in public spaces, particularly in high-traffic venues across the UK.Founded in 2017, Innovate Energy Solutions Ltd. operates primarily out of London, UK. The company focuses on providing self-service phone charging stations to various venues. The CEO, Hugo Tilmouth, is among the founders, which also include Charlie Baron and Hakeem Buge. Innovate Energy Solutions has successfully closed three deals, with the latest being a Series A round of GBP 7 million on January 4, 2022, led by JamJar Investments and Jägermeister, bringing the total capital raised to GBP 7 million.ChargedUp’s core product offering centers around self-service phone charging stations, designed to provide convenience for customers while enhancing their experience at various venues. These stations enable users to rent power banks by simply tapping a card or compatible device on a contactless reader. The primary use cases addressed include the need for accessible charging solutions in public spaces, allowing customers to maintain their mobile device functionality for critical activities such as contacting emergency services, using public transport, or staying connected with family and friends. ChargedUp serves a diverse client base that includes venues across the UK, and it is noted for powering over 111 million minutes of charge through its network, illustrating its widespread adoption. The company's services are particularly suited for high-footfall areas such as bars, restaurants, and public transport hubs, where the user demand for mobile charging solutions is significant.ChargedUp generates revenue through a fee-based model where customers pay a small charge for renting power banks from the self-service charging stations. The company collaborates with various venues, providing them with charging stations at no upfront cost, thereby creating a mutually beneficial partnership. Revenue is derived from transaction fees collected each time a customer rents a power bank, contributing to the overall income stream from the various participating establishments. The energy costs associated with operating the charging stations are minimal, estimated at around GBP 1 per month, allowing venues to provide a valued service without significant overhead. This fee structure positions ChargedUp strategically within the market, aligning interests with both end-users seeking reliable phone charging options and venue operators looking to increase customer dwell time and spend per head.In January 2022, Innovate Energy Solutions Ltd. raised GBP 7 million in Series A financing to accelerate its expansion across the UK and Europe. The funding will also support new hires and the development of a new app set to launch in 2022. The company's strategy includes entering new markets and enhancing its product offerings to meet increasing demand.

## Funding rounds

- Series A, Jan 4, 2022, $9.5M — JamJar Investments, Jägermeister
- Seed, Dec 2, 2018, $1.3M — JamJar Investments, The Garage Soho
- Seed, May 22, 2018, $0.3M — Founders Factory, Daedalus Partners

## Investors

- Founders Factory (https://capitalatlas.ai/funds/founders-factory) — Seed
- Daedalus Partners (https://capitalatlas.ai/funds/daedalus-partners) — Seed
- JamJar Investments (https://capitalatlas.ai/funds/jamjar-investments) — Seed, Series A
- The Garage Soho — Seed
- Jägermeister — Series A