L-Charge announced the close of a $10 million funding round, led by Ultra Capital with co-investment from founder Dmitry Lashin, to scale its off-grid EV charging solutions across the United States.
The funding will support rapid deployment for rideshare, last-mile delivery, and fleet customers, while expanding the company’s service and sales teams.
The company’s modular, off-grid chargers are designed to overcome installation challenges such as permitting delays and grid constraints, allowing fleets to electrify within weeks. The new capital will be used to expand L-Charge’s installation footprint, introduce new product categories, and strengthen long-term infrastructure and service capabilities.
“This funding marks a significant milestone for L-Charge,” said Stephen Kelley, CEO of L-Charge, in a statement. “Demand for our solutions continues to grow as fleet operators look for reliable ways to deploy EVs despite grid limitations and rising costs. This investment allows us to scale faster, support more customers, and keep building the team needed to sustain our next phase of growth.”
L-Charge offers Charging-as-a-Service and Power-as-a-Service solutions, providing commercial customers with flexible, zero-CAPEX alternatives to traditional grid-dependent infrastructure. Its systems serve logistics, rideshare, municipal, and commercial fleets facing power or site limitations.
Kristian Hanelt, partner at Ultra Capital, added, “L-Charge is solving one of the most critical bottlenecks in fleet electrification today – access to power. Their ability to deploy charging infrastructure independent of grid timelines makes them uniquely positioned to support the rapid electrification of commercial fleets. We’re proud to lead this round and continue supporting L-Charge as they scale nationally.”
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