ChargeX develops and produces charging infrastructure solutions and products for electric vehicles, led by CEO Tobias Wagner and COO Michael Masnitza. Its core product, Aqueduct, is an intelligent patented multiple-socket that enables many vehicles to be charged from one connection and can be expanded up to 10 charging points via Plug&Play. The Aqueduct system distributes energy to vehicles as required and supports grid-friendly charging. ChargeX has already installed several thousand charging points and more than 500 companies use its charging products across several thousand charging modules. The company plans to use new funding to further develop its patented technologies, accelerate expansion into other European markets, and expand its range of digital services. Chargex develops digital services around charging management (notably the "Drop App") and manufactures a multiple-socket charging product for electric cars. The Drop App focuses on power availability and grid-related services to address installation and grid-capacity constraints. The multiple-socket product can deliver up to ten charging points from a single power connection and uses a special installation concept to enable fast, inexpensive setup. Intelligent phase distribution is built into the system to optimize charging of electric cars and plug-in hybrids on one charging installation. Since its 2018 founding, Chargex has installed over 1,500 charging points for customers in Germany, Austria and Switzerland. The company keeps development, manufacturing and marketing based at its Munich site and plans to use new capital to simplify installation and expand into other European countries, prioritizing markets with high EV adoption.

Total raised

$18M

Funding rounds

2

Latest round

Series B

Latest activity

Jul 2023