Chargex raises 4.5 million euros

The start-up is planning digital services related to charging management and is producing a multiple socket for electric cars.

The Munich-based e-mobility start-up Chargex has closed a Series A financing round of 4.5 million euros. The new investors are Bonventure from Munich, Hevella Capital from Hamburg and the Smart Energy Innovation Fund of the Swiss energy supplier Energie 360°. The company intends to use the capital to simplify the installation of its technology and expand into other European countries, among other things.

Chargex is planning digital services for all aspects of charging management. The focus is particularly on the "Drop App", which offers services relating to electricity availability and the power grid. "The bottleneck in the charging infrastructure does not lie in demand, but in the lack of skilled electricians and the capacity of our electricity grid," says the company's CEO Tobias Wagner.

Another product offered by Chargex: a multiple socket for electric cars. The company would like to use this to enter the market in other European countries. The initial focus will be on countries where there are already many electric cars. The company's technology is designed to enable the efficient and simple charging of many cars in one place. Thanks to a special installation concept, the Chargex multiple socket for electric cars can be installed quickly, easily and inexpensively. Up to ten charging points can be set up with one power connection. In addition, intelligent phase distribution should enable optimized charging of electric cars and plug-in hybrids on one charging system.

Since Chargex was founded in 2018, the company has installed over 1,500 charging points for customers in Germany, Austria and Switzerland. The start-up wants to focus on avoiding unnecessary emissions. This is another reason why all business areas, from development to production and marketing, are located in Munich. This will remain the case in the future, despite possible expansion.