Orange Charger, a provider of EV charging solutions, secures $6.5million in seed funding Leading the round were Munich Re Ventures and Climactic, with participation from Crow Holdings, Baukunst, Lincoln Properties Ventures, and Space Cadet Ventures. This increased Orange’s total capital raised to $8.8m.
The money will be used by the business to grow both its operations and growth initiatives.
Orange, under the direction of its CEO and founder Nicholas Johnson, offers multifamily houses an energy management solution. To serve 43 million Americans, the newest type of EV chargers and software platform is designed specifically for multifamily complexes.
Orange charges $750 for each of its Level 2 plugs, and without increasing the size of their electrical panel, property owners may install four Orange chargers for the cost of one normal charger.
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Almost 2,000 Orange Charger devices have been installed at apartment buildings throughout the country since the program’s founding. OrangeNet, a mesh technology that enables chargers to interact with one another to maintain connection without the need for extra networking, is enabled on these chargers.
Drivers may scan the QR code on the chargers, enter their credit card information, and begin charging after downloading the Orange app. OrangeOS monitors and controls charger usage and pays the property’s energy expenses. Additionally, it gives property owners the ability to centrally manage all of the chargers on their sites and restrict access to them.
About Orange Charger
In 2020, Orange Charger was founded. Orange Charger’s goal is to enable all EV drivers, regardless of where they live or work, to have access to EV charging. There are currently insufficient EV chargers on multifamily and commercial buildings to accommodate the EV vehicles’ rapid uptake. That’s because those settings were not designed for today’s chargers, which are powerful, pricey, and unreliable.
