ChargeX

About ChargeX

ChargeX GmbH is a German company founded in Munich in 2018 by Tobias Wagner and Michael Masnitza. The firm develops and produces modular charging infrastructure solutions for electric vehicles. Its main product is the patented "Aqueduct" charging system, a modular plug-and-play solution that functions like a multiple socket power strip for electric cars. This system allows multiple vehicles to be charged from a single main power connection, reducing installation costs by over 50%.

The Aqueduct system is designed for scalability, enabling customers to start with a single charging module and expand up to 10 charging points as needed. This approach addresses the shortage of skilled electricians and limitations in local power grids. The system features intelligent load management, which distributes the available power to connected vehicles based on demand, and can be managed via the "Drop Power Sharing" app. It is designed for use in semi-public and private locations such as company car parks, commercial properties, hotels, and multi-family residential buildings.

ChargeX operates on a B2B model, targeting companies, commercial landlords, and hotels. The company has installed over 5,000 charging points for more than 700 customers. The company has raised a total of $17.7M in funding over 3 rounds, with its latest Series B round in July 2023 raising €11.5 million ($12.5M). Key investors include UVC Partners, Bayern Kapital, BonVenture, and Ponooc. The firm plans to use the capital to expand into other European markets and further develop its technologies, including enabling installation without a specialist and exploring bi-directional charging.