Chargex raises 4.5 million euros

The start-up plans digital services around charging management and produces a multiple socket for electric cars.

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

Chargex is planning digital services around the topic of charging management. Particularly in focus for this is the so-called "Drop App", which offers services around the topics of power availability and power grid. "The bottleneck in charging infrastructure is not demand, but the shortage of skilled electricians and the capacity of our power grid," says the company's CEO Tobias Wagner.

Another Chargex offering: a multiple socket for electric cars. With this, the company wants to tackle the market entry into further European countries. For now, the focus will be on countries where there are already many electric cars. The company's technology is intended to enable the charging of many cars in one place in an efficient and simple manner. 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 are to be able to be set up with one power connection. In addition, intelligent phase distribution is to make optimized charging of electric cars and plug-in hybrids possible 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 manufacturing to marketing, are located at the Munich site. This is to remain the case in the future, despite possible expansion.