InCharge Energy, a North American provider of electric vehicle charging and energy infrastructure solutions, has secured a $46 million strategic investment led by S2G Investments, with participation from investment manager QIC, as the company seeks to expand its presence in broader energy management and infrastructure services.
The funding will support InCharge’s growth beyond EV charging into areas such as electrical infrastructure and distributed energy resources, while accelerating development of its software platform and expanding its nationwide service network.
Expanding Beyond EV Charging
The investment comes as the installed base of EV chargers continues to grow across North America, increasing demand for maintenance and operational support. Industry participants have increasingly focused on charger reliability as aging infrastructure and network uptime become critical concerns for fleet operators, municipalities and charging network owners.
InCharge said it currently manages more than 30,000 charging assets through one of North America’s largest multi-brand EV charger service networks. Its customers include commercial fleets, school districts, municipalities and other organizations operating charging infrastructure at scale.
“EV charging was the entry point, but our customers increasingly need help operating more complex energy infrastructure,” said Rich Mohr, CEO of InCharge. “This investment from S2G accelerates our evolution into a full energy solutions provider and allows us to advance smarter technology and strengthen our service capabilities nationwide.”
Software Platform at the Center of Strategy
A key part of the company’s expansion strategy is its proprietary InControl software platform, which serves as a centralized management system for charging infrastructure and other energy assets.
The platform provides real-time monitoring, remote diagnostics, network management and performance optimization capabilities for EV charging systems. According to InCharge, approximately 80% of charger-related issues can be resolved remotely through the software, reducing downtime and service costs.
InControl also manages operational data, maintenance records, service agreements and warranties across a broader range of energy infrastructure assets, including battery energy storage systems, solar installations, transformers, switchgear and electrical distribution equipment.
The software is integrated with the company’s 24-hour network operations and support centers as well as its nationwide field service organization, allowing customers to manage infrastructure performance and maintenance through a single platform.
Focus on Reliability and Network Operations
S2G said the investment reflects growing demand for technology-driven infrastructure management as EV charging networks and distributed energy resources continue to expand.
“Demand for reliable, tech-enabled network operations will only intensify as the installed base of chargers and distributed energy resources continues to expand and mature,” said Bala Nagarajan, Managing Director at S2G. “We believe InCharge is exceptionally well-positioned to capture that shift and move the industry from reactive, break-fix maintenance to proactive, performance-driven management.”
The company plans to use the new capital to expand its national field service division by increasing technician headcount and strengthening coverage in key markets. Funding will also support further development of the InControl platform and the company’s broader push into energy infrastructure services.
The transaction was advised by IMPROVED Corporate Finance, which served as exclusive financial advisor to InCharge. Legal counsel was provided by Gunderson Dettmer LLP for InCharge and Paul Hastings LLP for S2G.