HeyCharge announced that the company has closed a $4.7M seed funding round and the company believes that with BMW i Ventures as their lead investor, it will bring strong automotive industry credentials, insight and connections with their relationship to the BMW brand.
The additional investors with energy and related industry credentials also joined the round including Statkraft Ventures, First Momentum Ventures, and Vireo Ventures as well as some heavy-hitting angels.
The HeyCharge provides a real solution to problems faced by EV drivers who desire charging in semi-private environments such as apartment buildings. Since HeyCharge’s first moments, it wanted to build a company with the technology, product vision, and resources to fundamentally democratize access to EV charging infrastructure to include people in all kinds of housing.
“The rapid growth of the electric vehicle market in coming years will necessitate greater infrastructure build-out of charging solutions around the globe,” said Kasper Sage, Managing Partner, BMW i Ventures.
Sage added, “HeyCharge is the first company to enable EV-charging without internet connection, which is a key enabler to cover untapped white-spots. With HeyCharge’s technology, it becomes attractive to install chargers in locations that before would have not been commercially viable.”
This latest round of funding gives HeyCharge, the financial backing and resources to make this happen. To get there, the company is ramping up hardware production, accelerating our hardware roadmap to include hardware devices for Europe and the United States, and hiring engineers, go-to-market leaders, and operations experts to help it deliver best-in-the-industry user experience to the coming wave of EV drivers around the world. Hey Charge has already started commercial, revenue-generating installations of sites across Germany powered by its unique SecureCharge technology.
“We are excited to use this investment to scale our product globally and bring low-cost charging options to consumers. HeyCharge’s solution makes EV charging not just scalable but also more cost-effective and accessible so that easy EV charging is made possible wherever you live or work, said Chris Cardé, Founder and CEO, HeyCharge. “We are thrilled to be working with BMW i Ventures in this round and look forward to using this investment to scale our product globally and bring low-cost charging options to consumers.”
