Chargex has completed its first financing round in the mid-six-figure range. The Munich-based startup is developing a solution that enables charging multiple electric cars from a single connection.
Business angels from the founders’ environment and the BaystartupNetwork is investing a mid-six-figure sum in the e-mobility startup Chargex, founded in 2018. The Munich-based company is developing a novel charging infrastructure for electric cars that enables the intelligent charging of multiple electric vehicles. The solution is intended for use in commercial properties and multi-family homes. The startup aims to use the new capital to complete the development of the charging system.
Cost-effective charging points combined with intelligent networking
The system distributes a power connection across multiple charging points, where the vehicles are charged one after the other. Load management ensures that the available connected load is not exceeded. An intelligent charging algorithm uses individual mobility data to charge the electric vehicles at staggered times and according to demand. If necessary, the system can also be expanded later with additional charging points.
“The Chargex concept — extremely cost-effective charging points combined with intelligent networking — is the key, if not the prerequisite, for the acceptance and spread of electromobility,”
says the lead investor and former managing director of Phoenix Contact Martin HeubeckMatthias Willenbacher, investor at Sono Motors, Proglove founder Alexander Grots, entrepreneur Andreas Schreiner and Thomas Klug from Eautolader have also invested in the Munich-based company.
“For Chargex, it is a great added value to be able to draw on the expertise of outstanding partners,”
says Chargex CEO Tobias Wagner.
