London-based ChargedUp raised €1.4M to expand its mobile charging network

A U.K. startup ChargedUp, which offers a mobile charging network has raised £1.2 million (approximately €1.37 million) seed investment. The funding round is led by Sir John Hegarty’s fund The Garage along with JamJar, the former founders of Innocent Smoothie. It is stated that this funding will be used to grow their portfolio across the U.K. and also to fuel its international expansion.

ChargedUp was founded in 2017 by Hugo Tilmouth, Charlie Baron, Hakeem Buge and Forrest Skerman Stevenson. It was founded to resolve the dead mobile phone battery issue with its charging network. Instead of fixed charging points, the founders at ChargedUp have developed a solution to rent a mobile charging pack. It is possible to rent the same from one location and return it at another location.

Multiple distribution points

The UK-based startup aims to create multiple distribution points all over a city. These charging points are located in the venues where people spend a lot of time such as restaurants, bars and cafes. Their solution uses an app that lets users find the nearest charging stations and unlock a sharable power bank and return the same to another station. They can pay only for the specific time that they use the charging solution.

Plans to expand further

ChargedUp aims to expand its network in the coming months. It teamed up with Marks and Spencer to test its platform in the central London stores. If it turns out to be successful, it will implement its phone charging solution at all the M&S stores by the end of this year. It aims to become the largest phone charging service in Europe.

Inspired by bike-sharing business model

This startup is inspired by the bike-sharing business model. It charges users an affordable cost of 50p per 30 minutes to charge their mobile phone battery. They make revenue with the advertising space on their batteries and app.

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https://siliconcanals.com/promoted-content/scaling-europe/scaling-up-in-europe-5-dos-and-donts-of-doing-business-in-the-netherlands/