What is ChargeLab?
ChargeLab provides a cloud-based software platform designed for the efficient management of electric vehicle (EV) chargers. Unlike hardware manufacturers, ChargeLab's core offering is its versatile software, compatible with a wide array of popular EV chargers. The platform empowers operators to oversee their charging infrastructure, implement flexible pricing and access protocols, manage billing and payments, and optimize electrical load balancing. With operational bases in Toronto, ON, and Mountview, CA, ChargeLab is strategically positioned to serve the growing demand for sophisticated EV charging management solutions.
How much funding has ChargeLab raised?
ChargeLab has raised a total of $34.3M across 2 funding rounds:
Angel/Seed
$4.3M
Series A
$30M
Angel/Seed (2021): $4.3M with participation from Root Ventures and Construct Capital
Series A (2023): $30M led by Third Sphere, ABB E-Mobility, Construct Capital, Silver Comet, Eaton, Maple VC, Highline BETA, and King River Capital
Key Investors in ChargeLab
Third Sphere
Third Sphere is an early-stage capital provider focused on founders transforming theoretical concepts into actionable solutions for a better world, particularly in infrastructure and supply chains, aiming for systemic change in areas like sustainable cities and climate action.
Construct Capital
Construct Capital is an early-stage venture capital firm investing in founders reimagining foundational industries like manufacturing and energy, providing real-world expertise and resources to support innovation and transformation.
Eaton
Eaton is a global power management company providing technologies for electrical, hydraulic, and mechanical power management, focusing on improving efficiency, safety, and sustainability across industrial, commercial, and energy markets.
What's next for ChargeLab?
The recent major strategic investment in ChargeLab signals a pivotal moment for the company, likely enabling accelerated product development, expansion into new geographic markets, and enhanced sales and marketing efforts. As the EV market continues its rapid expansion, ChargeLab's focus on software-driven management solutions positions it to capitalize on the increasing complexity of charging infrastructure. The backing from prominent investors such as Third Sphere, ABB E-Mobility, and Construct Capital suggests a strong validation of ChargeLab's business model and its potential to become a leader in the EV charging management space. Future growth will likely involve deepening partnerships with hardware manufacturers and expanding its operator client base.
See full ChargeLab company page
