SparkCharge Strikes Million Dollar Deal On Shark Tank For Roadie Portable EV Charger

[ChasingCoral]

https://insideevs.com/news/449438/s...HhrP7w0TWK0H3vSQ0JSsqr-sUe6-6WRJQW1rzCVutqR0A

SparkCharge Strikes Million Dollar Deal On Shark Tank For Roadie Portable EV Charger
And land Mark Cuban and Lori Greiner in the process

Oct 17, 2020 at 8:27am ET
By: Tom Moloughney

SparkCharge, makers of the Roadie mobile EV charging system was featured on the season premiere of the hit ABC show, Shark Tank last light, and came away with a million-dollar investment.

And the good news doesn't end there. Co-founders Joshua Aviv and Christopher Ellis landed not one, but two sharks, as Mark Cuban and Lori Greiner teamed up for the $1,000,000 offer.
In return Cuban and Greiner will each get a 7% stake (5% + 2% advisory shares) in the company as well as a seat on the Board of Directors.

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

SparkCharge just recently unveiled the 20 kW Roadie portable DC fast EV charging system. It's the 2nd generation of their scaleable EV fast charger designed primarily for roadside assistance service. However, during the show, it was revealed that the team is also working on a smaller, less expensive unit that would be consumer-focused. We suspect that this new consumer product is still in the early development stage as the company has been focusing on the Roadie system first.

SparkCharge plans to lease the Roadie systems to roadside service providers and said during the show that AAA is already a customer. Customers in need of a charge will use an app developed by SparkCharge that will put them in touch with the nearest Roadie service provider. The app is called BoostEV and will be available for public download in a couple of weeks.

"Being on Shark Tank is every entrepreneur's dream. We couldn't be happier to have partners like Mark Cuban and Lori Greiner, we are truly grateful to have such great minds on our side, we're super excited about the future. This success means a lot to our company, but really means even more for the electric vehicle industry. EVs are on prime time, they are no longer a novelty, they are mainstream. The world is changing, and we're ready to lead that charge." - Joshua Aviv, Co-founder SparkCharge

SparkCharge's Roadie service is currently available in Richmond, VA, Chicago, IL, Boston, MA, Dallas, Houston and San Antonio, TX, Washington, DC, San Francisco, Los Angelos, and San Diego, CA as well as in Manchester, UK, with more markets coming soon.

The Roadie is a scalable, modular charging system that uses 3.7 kWh battery modules. The system is scalable and can accommodate up to 5 modules that simply stack up on top of each other for a total of 18.5 kWh. SparkCharge estimates that the usable system capacity of 17.5 kWh is good enough to provide 60 to 75 miles of range.

Gallery: SparkCharge on Shark Tank
6 Photos
American Broadcasting Companies, Inc. All Rights Reserved.

The million-dollar investment, along with the power of having Mark Cuban and Lori Greiner on the team will certainly give SparkCharge a huge boost. However, it appeared as though Cuban and Greiner were the only sharks interested.

Before Aviv and Ellis could even begin discussing their business plan Daymond John announced that since he doesn't know anything about the product that he's out. Kevin O'Leary, aka Mr. Wonderful, didn't seem too interested either, and once the deal with Cuban and Greiner was secure announced "I thought the chances of you guys getting a deal was zero".

However, O'Leary was wrong, and Aviv and Ellis walked away with a million-dollar investment and two very influential partners that can help open doors, lower manufacturing costs, and possibly provide additional capital in the future if needed.

For more information on SparkCharge's Roadie mobile charging system, check out our previous article on the company's progress and business plan.
Did Cuban and Greiner make a good deal, or will SparkCharge run out of juice? Let us know your thoughts in the comment section below.

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[Logal727]

Looks like this from 2020?

 

[hybrid2bev]

 

[SpaceEVDriver]

Before we had driven our Mustang, I thought this was necessary. Then we started driving and now feel that even with the under-developed infrastructure the businesses that offer this are probably not making any money on it.

Spark Charge never even bothered to complete development of an Android version of their app. I couldn't use them even if I needed an emergency charge.

 

[Maquis]

Spark Charge never even bothered to complete development of an Android version of their app. I couldn't use them even if I needed an emergency charge.

Good point

As an alternative to the app…
Since they have a AAA affiliation, members should be able to use the AAA toll-free number to get service.
I am not a AAA member and have no plans to join.

 

[Kevin C]

They do have a mobile app for both Apple and Android. Here's the link to the Android version: https://bit.ly/3o0c5tZ

 

[SpaceEVDriver]

Good point

As an alternative to the app…
Since they have a AAA affiliation, members should be able to use the AAA toll-free number to get service.
I am not a AAA member and have no plans to join.

I'm no longer a member (haven't been in decades), but the last I read, AAA had suspended its EV charging and just provides a tow to a charger. Seems safer that way anyway.

 

[SpaceEVDriver]

They do have a mobile app for both Apple and Android. Here's the link to the Android version: https://bit.ly/3o0c5tZ

Huh.
I was on their site 30 minutes ago looking for the app. Only the Apple version was listed. Now both are. Weird.

 

[ChasingCoral]

Sorry. I missed that this was from 2020 when I saw it on social media. Still interesting, though.

 

[Logal727]

It's a cool product, but I think it was a bad investment from a Shark's perspective unless you get a majority stake in the company. Investors don't know shit about the technology aside from what is presented and how they like the founders. (Looking at you Elizabeth Holmes.)

The idea that EVs run out of battery stranded on the highway is so overblown. I just don't see this product attracting the scale needed to be a super profitable business.

 

[HuntingPudel]

I'm no longer a member (haven't been in decades), but the last I read, AAA had suspended its EV charging and just provides a tow to a charger. Seems safer that way anyway.

It’s certainly quicker for a AAA driver to put the car on the flat bed then tow it to a charger than to plug in and wait with the car while it charges at 20KW. ?‍?

 

[SpaceEVDriver]

It’s certainly quicker for a AAA driver to put the car on the flat bed then tow it to a charger than to plug in and wait with the car while it charges at 20KW. ?‍?

And waiting by the side of the road is much more dangerous...

 

[Maquis]

It’s certainly quicker for a AAA driver to put the car on the flat bed then tow it to a charger than to plug in and wait with the car while it charges at 20KW. ?‍?

Depends on distance to the nearest charge station. 20kw is roughly a mile per minute.

[SPECULATION] Chances are someone who runs dry was heading to a charger they thought they could make….probably less than 10 miles short. [/SPECULATION]

 

[JohnFoxeSheets]

[/SPECULATION]

Ah, if only this could apply to the entire interwebs... ?

 

[buzznwood]

Depends on distance to the nearest charge station. 20kw is roughly a mile per minute.

[SPECULATION] Chances are someone who runs dry was heading to a charger they thought they could make….probably less than 10 miles short. [/SPECULATION]

Ok the chances of hundreds of people all calling in and needing a top is going to be slim but there is so only so may top ups a recovery service could provide without needing racks of charged batteries back a base which limits the service area if you need to constantly go back to get to base to get fully charged ones and if you instead pack loads of them just incase in the back of van you may as well just stick a 20kw marine diesel generator in the back of a van and use than instead.

I can see this really only being useful for urban environments where people miss calculates and run out of juice not that from home / charger so someone can stick this in the trunk and give them a quick zap and dash to get to home / charger.

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