🎉 itselectric, a Brooklyn-based electric vehicle curbside charging company, today announced its $6.5M seed round.
The raise was led by Failup Ventures and Uber. With participation from Halogen Ventures, Partnership for New York City, Pulse Fund, Newlab, Gratitude Railroad, Tale Venture Partners, The Equity Alliance, Los Angeles Cleantech Incubator (LACI) Impact Fund, and The Helm and will support deployments across seven cities in the United States in 2024, including Boston, Los Angeles, Detroit, Jersey City, and San Francisco.
With fresh funding, itselectric’s curbside charging infrastructure will also help support Uber’s goal of helping rideshare drivers go electric.
🌎 2023 was the hottest year on record with transportation being the third largest contributor of U.S. greenhouse gas emissions. But transportation is also a sector where the choice to drive electric will create a collective difference. Our mission is to make charging easy, convenient, and affordable not only for drivers, but for cities, providing the pathway for everyone to go electric.
“itselectric has designed an innovative public charging solution that addresses the infrastructural barriers that cities face in the deployment of electric vehicle curbside charging,” said Topias Soininen, general partner at Failup Ventures. “Their thoughtfully designed chargers are a highly scalable solution that will rapidly bring curbside charging to the millions of city drivers who park on the street and contribute to the nationwide adoption of electric vehicles.”
"We are thrilled to invest in itselectric as part of our push for an all-electric future,” said Camiel Irving, GM of Uber US & Canada. "Electric rideshare drivers cut emissions up to four times more than regular motorists, but many lack off-street parking and home charging options. itselectric is innovating to address this and expand overnight curbside charging, helping more drivers confidently go electric, ease range anxiety, and boost earnings potential."
“itselectric is revolutionizing urban infrastructure,” said Jesse Draper founding partner, Halogen Ventures. “Their mission to bring highly accessible curbside charging combined with economic benefits to urban communities, offers an innovative solution for a problem we need to urgently solve. We’re incredibly excited about itselectric as they expand across cities to make sustainable transportation a reality across the nation”
Read the full story in Fortune
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