# Xeal

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

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: New York, US
- Website: www.xealenergy.com
- Total disclosed funding: $51M
- Latest round: Series B (Nov 10, 2022)
- Investors on record: 11

## About

Xeal specializes in advanced electric vehicle (EV) charging solutions for businesses and residential complexes, providing innovative self-managed technology that enhances charging accessibility without reliance on IT or internet connectivity.Founded in 2019, Xeal is headquartered in New York, US, focusing on electric vehicle charging infrastructure. The company was established by Alexander Isaacson and Nikhil Bharadwaj. Xeal has secured a total funding of USD 40.00 mn through a Series B round led by Keyframe Capital Partners on November 10, 2022, which was part of a larger USD 50.00 mn funding initiative. The company has completed four deals to date, with a current valuation of USD 157.73 mn.Xeal Solutions specializes in providing advanced electric vehicle (EV) charging solutions tailored for apartments and businesses. The core offerings center around their patented, self-managed charging technology that operates without the need for IT, internet, or cloud dependencies. This technology is compatible with all electric vehicles and includes essential functionalities such as payment processing, revenue sharing, access control, and dynamic load management. Xeal's comprehensive service model encompasses the entire process from permitting and installation to onboarding and ongoing 24/7 support, facilitated by an in-house implementation team and a nationwide network of certified installers. Their solutions are designed to enhance the user experience for property owners, asset managers, and residents within multifamily, commercial, and mixed-use environments across various geographical markets in the United States.Xeal Solutions generates revenue primarily through partnerships and service agreements with property owners and managers, offering a full-service execution model that includes installation and ongoing support for their EV charging stations. The company's revenue structure is based on a combination of upfront installation fees and recurring revenue from payment processing and revenue share agreements tied to the utilization of the charging stations. Customers benefit from a seamless charging experience facilitated by Xeal's technology, which allows for secure transactions and efficient load management. The offerings include various pricing plans tailored to different client needs, contributing to the financial sustainability of properties and generating additional income streams for their clients.In November 2022, Xeal raised USD 40.00 mn in Series B funding to accelerate the deployment of EV charging stations, expand a new reseller program, scale its network of real estate partners, and develop new products. The company aims to introduce upcoming products that further streamline the EV charging process while exploring expansion into new geographical markets. The recent funding will be pivotal in supporting these initiatives, enhancing its capabilities in the growing electric vehicle infrastructure sector.

## Funding rounds

- Series B, Nov 10, 2022, $40M — ArcTern Ventures, Alpaca, Moderne Ventures, Nexus Labs Limited, Keyframe Capital Partners, WIND Ventures, Ramez Naam Ventures
- Series A, Oct 28, 2021, $11M — Hunt Companies, Harrison Street Capital, ArcTern Ventures, Moderne Ventures, Lincoln Property Company, Align True Estate

## Investors

- Hunt Companies — Series A
- Harrison Street Capital — Series A
- ArcTern Ventures (https://capitalatlas.ai/funds/arctern-ventures) — Series A, Series B
- Moderne Ventures (https://capitalatlas.ai/funds/moderne-ventures) — Series A, Series B
- Lincoln Property Company (https://capitalatlas.ai/funds/lincoln-property-company) — Series A
- Align True Estate — Series A
- Alpaca (https://capitalatlas.ai/funds/alpaca) — Series B
- Nexus Labs Limited — Series B
- Keyframe Capital Partners — Series B
- WIND Ventures (https://capitalatlas.ai/funds/wind-ventures) — Series B
- Ramez Naam Ventures — Series B