EV charging provider L-Charge has closed a $10-million funding round, led by Ultra Capital.
L-Charge will use the new capital to expand its national installation footprint; add new product categories; expand its portfolio of off-grid chargers; grow sales, operations and customer support teams to support increasing project volume; and strengthen long-term infrastructure and service capabilities. The investment will support rapid growth in installations in the rideshare, last-mile delivery and fleet segments.
Fleet operators installing charging infrastructure continue to face permitting delays and infrastructure backlogs that add cost and slow EV deployments. L-Charge aims to address these challenges by delivering modular, off-grid charging solutions that enable fleets to electrify in a matter of weeks.
L-Charge’s Charging-as-a-Service and Power-as-a-Service offerings provide commercial customers with a flexible, zero-CapEx alternative to traditional grid-dependent charging infrastructure.
“Demand for our solutions continues to grow as fleet operators look for reliable ways to deploy EVs despite grid limitations and rising costs,” said Stephen Kelley, CEO of L-Charge. “This investment allows us to scale faster, support more customers, and keep building the team needed to sustain our next phase of growth.”
“L-Charge is solving one of the most critical bottlenecks in fleet electrification today—access to power,” said Kristian Hanelt, Partner at Ultra Capital. “Their ability to deploy charging infrastructure independent of grid timelines makes them uniquely positioned to support the rapid electrification of commercial fleets.”
Source: L-Charge
