​CaCharge secures 2,1 MEUR funding to create a mass-market for electric cars

The e-mobility company CaCharge is pleased to announce the completion of a 2,1 MEUR investment from experienced investors to expand in Europe. CaCharge’s business model makes it profitable to invest in charging points while drivers benefit from a reasonable mileage rate.

The investors include Stefan Bengtsson of CSB Capital; Mikael Ahlström founder of Procuritas; Lars Appelstål co-founder of Readsoft; Per-Uno Sandberg co-founder of Skistar; Michael Obermayer senior partner of McKinsey and chairman of energy storage company Nilar and Carl Hirsch, property developer of Industricentralen.

Carl Hirsch explains that CaCharge’s core business is about pricing, packaging and AI-based software. Following the announcement, he commented:

“You only need to Google electric cars to understand that the main challenge is the charging infrastructure. The business model and mindset of CaCharge is spot on for me as a property developer. By using CaCharge, I can keep my tenants happy and create a new revenue stream, while my properties become more sustainable”.

CaCharge was founded in 2016 by three entrepreneurs; Kurt Högnelid, Louise Kierkegaard and Tomas Öquist. Together they embarked on a journey to develop a business model that underpins the electric car mass-market.

CEO of CaCharge, Louise Kierkegaard, believes that to make sustainable development scalable you need to generate economic profit. She said:

“CaCharge understands both the point of view of business and the driving and parking patterns of car drivers. Our aim is to create a society where your car is charged as easily as your mobile.”

The CaCharge technology charges the car where it is parked – at home or at work. By using an AI-based solution that effectively distributes electricity between cars, CaCharge can charge 50 cars at the same rate as a fast charging station.

Kurt Högnelid, Chairman of CaCharge, said:

”Being able to charge as many cars as possible, at the lowest possible cost, with available electrical capacity, will be crucial in the future”

CaCharge’s customers in Sweden include Fabege, Stena Fastigheter and Upplands Vasby municipality.

Media enquiries:

Louise Kierkegaard, CEO, CaCharge, louise@cacharge.com

Carl Hirsch, CEO, Industricentralen hirsch@industricentralen.se