Black-Owned Electric Vehicle Charging Startup Raised $30 million

SparkCharge, a Black-owned electric vehicle charging startup, has raised $30 million in funding.

By January 31st, 2023

As the electric vehicle market continues to grow, “range anxiety” – the fear of running out of power while on the road – remains a concern for some potential buyers. But one young Black entrepreneur is working to alleviate this issue with his innovative battery charging service, SparkCharge. 

SparkCharge, which recently raised $30 million from investors including Mark Cuban, Tale Venture Partners, and rapper Pusha-T, offers a charging-as-a-Service (CaaS) network and mobile app that allows EV owners to charge their vehicles whenever and wherever they want. With just the click of a button, SparkCharge subscribers in 121 U.S. cities can arrange a charging appointment.

“We are super excited to bring mobile charging and charging as a service (CaaS) to the next level,” said SparkCharge CEO and founder Josh Aviv. “It’s exactly what is needed right now for America to catch up with electrification of transportation.”

With a record 6.6 million electric vehicles on the road in 2021, double the previous year’s total, the need for convenient and accessible charging options is more important than ever. And with SparkCharge, “range anxiety” may soon be a thing of the past, as EV owners have the option to recharge with a Black-owned business.

Source: Shoppe Black

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