HeyCharge’s underground charging solution raises $4.7M Seed led by BMW i Ventures

EV charging continues to be a high-growth business, for obvious reasons. Since 2007, one of the largest players has been ChargePoint, the floated US company which with a widespread EV charging network. But plenty of startups are snapping at its heels.

One of them is Germany-based HeyCharge , which realised there was a problem with how EVs could be charged in underground carparks, where roughly 80% of all EV charging activity generally happens. The problem is that normal smart charging infrastructure needs an internet connection, but underground that’s not possible. So HeyCharge has a solution…

This is no doubt why it’s now raised a $4.7m Seed round led by BMW i Ventures (also a an early investor in Chargepoint and Chargemaster), the venture capital arm of BMW Group. Also participating was Statkraft Ventures, the venture capital arm of Statkraft, a large European generator of renewable energy.

We covered HeyCharge when it was part of YC’s 2021 batch .

HeyCharge’s solution is aimed at apartment buildings, offices, hotels and other underground infrastructure for EVs. Its SecureCharge technology doesn’t require an on-site internet connection, connecting over Bluetooth instead, in a plug-and-play setup.

Chris Carde, CEO of HeyCharge, said: “With 40% of Europeans and 37% of US renters living in apartment buildings, there is a large section of the population for whom going electric is too difficult because they can’t charge at home. HeyCharge’s solution makes EV charging not just scalable but also more cost-effective and accessible so that you can EV charge wherever you live or work.”

Kasper Sage, Managing Partner, BMW i Ventures, said: “The rapid growth of the electric vehicle market in coming years will necessitate greater infrastructure build-out of charging solutions around the globe. HeyCharge is the first company to enable EV-charging without internet connection, which is a key enabler to cover untapped white-spots.”

HeyCharge was founded by Chris Carde and Dr. Robert Lasowski in March 2020, who previously worked at Mercedes-Benz, Google, BMW and SIXT.