Listen to this article
BMW i Ventures has announced a lead investment in HeyCharge, a German start-up creating access to electric vehicle (EV) charging stations in apartment complexes, office buildings and other infrastructure locations. It aims to make EV charging ubiquitous and affordable, starting with retrofitting apartment buildings across Europe
Traditionally, EV chargers require an app or RFID card and a proper internet connection to begin activation. Yet most underground garages currently do not have an internet access point, or the ability to install such boxes.
HeyCharge’s patent-pending technology, SecureCharge, eliminates the need for an on-site internet connection, allowing the app and chargers to communicate directly over bluetooth with the HeyCharge App or SDK.
Founded in 2020, the HeyCharge team has a founding team that is 50% American and 50% German, along with the majority of engineers based in Kyiv, Ukraine.
Kasper Sage, Managing Partner, BMW i Ventures, says: “The rapid growth of the electric vehicle market in coming years will necessitate greater infrastructure build-out of charging solutions around the globe. 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. With HeyCharge’s technology, it becomes attractive to install chargers in locations that before would have not been commercially viable.”
“In addition to our full wallbox, the HeyCharge Access Point is a bring your own wallbox device that places the bare minimum for access control and consumption invoicing on the building side, allowing for a fast and easy installation that can be made by any electrician in minutes,” comments Chris Cardé, Founder and CEO, HeyCharge.
He adds: “We are excited to use this investment to scale our product globally and bring low-cost charging options to consumers. We are thrilled to be working with BMW i Ventures in this round and look forward to using this investment to scale our product globally and bring low-cost charging options to consumers.”
BMW i Ventures is BMW Group’s venture capital firm.
It has made successful investments in companies such as Bright Machines, Blackmore, Chargepoint, Graphcore, Urgent.ly, Proterra, Solid Power, Tekion, Xometry, and many more.