InCharge Energy, a Los Angeles-based provider of EV charging and energy solutions, announced a $46 million strategic growth investment, led by S2G Investments with participation from QIC.
InCharge Energy’s $46 million funding accelerates the company’s expansion from its core EV charging focus into a broader, integrated energy solutions platform. It encompasses electrical infrastructure, distributed energy resources (such as solar, battery energy storage systems or BESS, and microgrids), advanced software via its InControl platform, and a national in-house service organization.
What is InCharge Energy?
InCharge Energy, headquartered in Los Angeles, provides full lifecycle energy infrastructure services for commercial, fleet, and industrial customers. It handles design, engineering, procurement, construction (EPC), installation, ongoing maintenance, monitoring, and optimization. The company emphasizes hardware-agnostic, multi-brand support and long term accountability, addressing a key pain point where many projects are handed off without sustained performance ownership.
Key metrics highlighted include:
- Over 877 infrastructure projects deployed.
- More than 30,000 electrical assets managed on InControl.
- 24,000+ support cases completed in 2025, with ~80% resolved remotely.
- A growing national technician network (100+ field staff) and 24/7 Network Operations Center (NOC/SOC) with 99.99% platform uptime.
The company was founded by veterans Cameron Funk and Terry O’Day, drawing on deep experience from roles at Innogy e-Mobility, EVgo, ABM, and others in EV infrastructure and fleet services. Rich Mohr serves as CEO (appointed 2025), bringing fleet and technology leadership from ChargePoint and Ryder System. Other leaders include Nikolas Runge (CTO) and additional co-founders with construction and operations expertise.
InCharge previously saw ABB E-mobility take a controlling stake around 2022 (building on a 2020 Series A), followed by a majority buyback in early 2025, positioning it for independent growth while maintaining strong industry ties.
How will InCharge Energy use the funds?
The round is a strategic growth investment (not a traditional early stage VC round), reflecting InCharge’s maturing operations and revenue generating status. S2G Investments, focused on energy transition, food/agriculture, and oceans, led it; QIC (a large global investor) participated. Advisors included IMPROVED Corporate Finance (financial) and Gunderson Dettmer (legal for InCharge).
Proceeds target three main areas:
- Scaling field services: Expanding the technician workforce and route density for faster, accountable on-site response.
- InControl platform development: Enhancing AI driven diagnostics, remote resolution, energy optimization, fleet support, and lifecycle management across EV chargers, electrical systems, solar, BESS, and more.
- Broader energy solutions: Deepening offerings in electrical infrastructure (power distribution, switchgear, lighting) and distributed energy resources to create a one stop platform for complex site needs.
This builds on InCharge’s existing strengths in fleet electrification (e.g., school buses, trucks, rideshare) and recent Canada expansion via partnerships like RocketEV and Foreseeson.
The EV charging market faces a shift from deployment to reliable operations. Many installed chargers are aging, with reliability challenges emerging as volumes grow. InCharge positions itself at the “operating layer” of electrification (managing assets post installation through integrated software, remote fixes, and field services) rather than competing solely on hardware sales or initial installs.
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InControl serves as a central system of record for visibility, diagnostics, optimization, warranties, and service orchestration. It extends beyond chargers to broader energy assets, helping customers reduce downtime, costs, and complexity amid rising power demand, grid constraints, and distributed resources.
S2G’s investment thesis highlights the growing need for proactive, performance driven management as DERs proliferate. The funding signals institutional confidence in service enabled models that deliver recurring revenue through maintenance contracts, subscriptions, and optimization services.
Recent customer examples include school districts (e.g., Shawnee Public Schools), fleets (e.g., UPS), and commercial operators, underscoring demand for dependable, turnkey solutions.
InCharge differentiates through vertical integration (EPC + software + national service), hardware neutrality, and a single accountable partner model. Competitors in EV charging software/services or infrastructure include players like ChargePoint (in some segments), SWTCH, EV Connect, and others focused on narrower slices. InCharge’s scale in managed assets (~30k+) and emphasis on multi brand, long term operations provide an edge for large fleets and complex sites.
The move into full energy infrastructure (electrical, solar, BESS) broadens its addressable market beyond pure EV charging, aligning with fleet decarbonization, facility electrification, and resilience needs.
This $46M infusion provides significant capital for geographic and solution expansion at a pivotal time in the energy transition. It supports scaling operations to match growing installed bases, investing in proprietary tech for differentiation, and capturing recurring revenue from services, key for sustainable growth in a capital intensive sector.
Success will depend on execution in technician network density, InControl adoption/innovation (especially AI and optimization features), and winning larger contracts in fleets, transit, and commercial real estate. Broader tailwinds include policy support for electrification, corporate sustainability goals, and the maturation of EV fleets, though challenges like grid capacity and economic variability remain. Overall, the round reinforces InCharge’s trajectory as a comprehensive, reliability focused energy partner across North America.
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