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EV charging start-up seeks support

Kiwi company clinches $56m deal to provide chargers at car parks across the US.
Posted on 25 February, 2021
EV charging start-up seeks support

A new electrical vehicle (EV) charging infrastructure company has launched a crowdfunding campaign with the goal of raising $2 million.

Invisible Urban Charging, a New Zealand tech start-up, has already raised $200,000 in three days since its private launch on February 22.

Its crowdfunding campaign went live two days later and the company has signed a deal in the US worth more than $56 million. The agreement involves more than 122,000 US car parks for a 10-year period.

Co-founders Nigel Broomhall and Jake Bezzant, pictured, have both worked in the US parking and electrical industries and originally planned on approaching US venture capitalists for investment.

“The combination of Covid and a large number of friends and family wanting to invest has changed our approach,” they say.

The pair intend to raise future rounds of investment in the US but want more members of the New Zealand public to come on board as investors for their current offer.

Broomhall and Bezzant are confident in their US operations becoming a success with the electrification of transport happening around the world.

Invisible Urban Charging’s crowdfunding campaign has a $500,000 minimum goal but is aiming to hit $2m, which represents 20 per cent of the company. 

Shares are $1 each with a minimum investment of $1,000. The campaign closes on March 22.

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