U.S. based electric vehicle startup SparkCharge has raised $30 million to expand its innovative mobile EV charging services, helping fleets electrify without the need for traditional infrastructure.
The round includes $15.5 million in equity financing, led by Monte’s Fam and joined by notable investors like Cleveland Avenue, Collab Capital, Elemental Excelerator, Marcy Venture Partners, and Non Sibi Ventures.
SparkCharge Accelerates with $30M Investment
Additionally, the company secured a $15 million venture loan from Horizon Technology Finance Corporation.
Founded in 2018 by CEO Joshua Aviv, SparkCharge originally focused on helping individual EV drivers charge their cars on the go.
Now, the company has shifted its strategy to provide on demand charging as a service for fleet operators, offering flexible power delivery without the upfront cost or delays of installing permanent stations.
SparkCharge currently operates in all 50 U.S. states, and has expanded its services to Canada and Mexico. With this new funding, the company plans to scale its operations even further and enter international markets, including Europe and the Middle East.
SparkCharge’s solution is especially useful for businesses that rely on round the clock vehicle availability such as logistics hubs, ports, rail yards, and car manufacturers.
By offering electricity on a per kWh basis, the service makes it easier for companies to manage costs while transitioning to electric mobility.
