EV charging solutions supplier Orange Charger, situated in San Francisco, California, has raised $6.5 million in startup money.
Investors
- Munich Re Ventures
- Climactic
- Crow Holdings
- Baukunst
- Lincoln Properties Ventures
- Space Cadet Ventures
- This increased Orange’s total capital raised to $8.8m.
Use of funds
The money will be used by the business to grow both its operations and growth initiatives.
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.
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
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.
