SparkCharge, makers of the Roadie cellular EV charging system was featured on the season premiere of the hit ABC present, Shark Tank final gentle, and got here away with a million-dollar funding. 

And the excellent news does not finish there. Co-founders Joshua Aviv and Christopher Ellis landed not one, however two sharks, as Mark Cuban and Lori Greiner teamed up for the $1,000,000 supply. 

SparkCharge on Shark Tank

Lori Greiner will make investments $500,000 in SparkCharge for a 7% stake (5% + 2% advisory shares) within the firm. American Broadcasting Firms, Inc. All Rights Reserved.

In return Cuban and Greiner will every get a 7% stake (5% + 2% advisory shares) within the firm in addition to a seat on the Board of Administrators.

SparkCharge is now totally charged to take over the world – SparkCharge Co-founder, Christopher Ellis

SparkCharge only in the near past unveiled the 20 kW Roadie moveable DC quick EV charging system. It is the 2nd technology of their scaleable EV quick charger designed primarily for roadside help service. Nevertheless, through the present, it was revealed that the crew can be engaged on a smaller, inexpensive unit that will be consumer-focused. We suspect that this new client product continues to be within the early growth stage as the corporate has been specializing in the Roadie system first. 

SparkCharge on Shark Tank

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SparkCharge plans to lease the Roadie methods to roadside service suppliers and mentioned through the present that AAA is already a buyer. Clients in want of a cost will use an app developed by SparkCharge that can put them in contact with the closest Roadie service supplier. The app is named BoostEV and might be obtainable for public obtain in a few weeks.

“Being on Shark Tank is each entrepreneur’s dream. We could not be happier to have companions like Mark Cuban and Lori Greiner, we’re actually grateful to have such nice minds on our aspect, we’re tremendous enthusiastic about the future.  This success means rather a lot to our firm, however actually means much more for the electrical car trade. EVs are on prime time, they’re not a novelty, they’re mainstream. The world is altering, and we’re prepared to guide that cost.” – Joshua Aviv, Co-founder SparkCharge

SparkCharge’s Roadie service is at present obtainable in Richmond, VA, Chicago, IL, Boston, MA, Dallas, Houston and San Antonio, TX, Washington, DC, San Francisco, Los Angelos, and San Diego, CA in addition to in Manchester, UK, with extra markets coming quickly.

The Roadie is a scalable, modular charging system that makes use of 3.7 kWh battery modules. The system is scalable and may accommodate as much as 5 modules that merely stack up on prime of one another for a complete of 18.5 kWh. SparkCharge estimates that the usable system capability of 17.5 kWh is nice sufficient to offer 60 to 75 miles of vary.

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The million-dollar funding, together with the ability of getting Mark Cuban and Lori Greiner on the crew will definitely give SparkCharge an enormous enhance. Nevertheless, it appeared as if Cuban and Greiner had been the one sharks .

Earlier than Aviv and Ellis may even start discussing their marketing strategy Daymond John introduced that since he does not know something concerning the product that he is out. Kevin O’Leary, aka Mr. Great, did not appear too both, and as soon as the take care of Cuban and Greiner was safe introduced “I believed the possibilities of you guys getting a deal was zero”. 

Nevertheless, O’Leary was flawed, and Aviv and Ellis walked away with a million-dollar funding and two very influential companions that may assist open doorways, decrease manufacturing prices, and presumably present further capital sooner or later if wanted.  

For extra data on SparkCharge’s Roadie mobile charging system, take a look at our earlier article on the corporate’s progress and marketing strategy. 

Did Cuban and Greiner make an excellent deal, or will SparkCharge run out of juice? Tell us your ideas within the remark part under.