Santa Monica EV Infrastructure Firm InCharge Sold to Swiss Tech Giant ABB

Pat Maio
Pat Maio has held various reporting and editorial management positions over the past 25 years, having specialized in business and government reporting. He has held reporting jobs with the San Diego Union-Tribune, Orange County Register, Dow Jones News and other newspapers in Ohio, West Virginia, Maryland and Washington, D.C.
InCharge
Image courtesy of InCharge Energy

Santa Monica-based fleet electrification company InCharge Energy has sold a majority stake in its business to Swiss robotics giant ABB, the companies announced Thursday.


The deal gives ABB a 60% controlling interest in InCharge, which builds electric vehicle charging systems for commercial fleet operators including ride-share operators, school districts and municipalities. Financial terms of the transaction were not disclosed. The Swiss firm initially acquired a 10% stake in the startup through its Series A funding round in 2020, which ABB led alongside Macquarie Capital.

While InCharge will be folded into ABB’s e-mobility division, it will maintain its management team, including co-founders Cameron Funk and Terry O’Day, as well as its “tech neutrality,” the company said in a press release.

Founded in 2018, InCharge manages fleet electrification projects for commercial customers including truck rental company Ryder, truck and bus manufacturer Navistar and GM BrightDrop, which is developing electric-powered vans for commercial delivery firms. BrightDrop is part of GM’s larger initiative to have an all-electric lineup of vehicles by 2035; its first customer is FedEx, which placed an initial order for 500 EV600 vehicles.

InCharge currently employs around 50 people. As part of its plans to expand nationally, the Santa Monica startup has a four-year goal to hire hundreds of field technicians to support and service its charging systems across the country.

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Cadence

Faraday Future Reveals Only 401 Pre-Orders For Its First Electric Car

David Shultz

David Shultz is a freelance writer who lives in Santa Barbara, California. His writing has appeared in The Atlantic, Outside and Nautilus, among other publications.

Faraday Future Reveals Only 401 Pre-Orders For Its First Electric Car
Courtesy of Faraday Future

Electric vehicle hopeful Faraday Future has had no shortage of drama—from alleged securities law violations to boardroom shake-ups—on its long and circuitous path to actually producing a car. And though the Gardena-based company looked to have turned a corner by recently announcing plans to launch its first vehicle later this year, Faraday’s quarterly earnings report this week revealed that demand for that car has underwhelmed—to say the least.

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Meet CropSafe, the Agtech Startup Helping Farmers Monitor Their Fields

David Shultz

David Shultz is a freelance writer who lives in Santa Barbara, California. His writing has appeared in The Atlantic, Outside and Nautilus, among other publications.

Meet CropSafe, the Agtech Startup Helping Farmers Monitor Their Fields
Courtesy of CropSafe.

This January, John McElhone moved to Santa Monica from, as he described it, “a tiny farm in the absolute middle of nowhere” in his native Northern Ireland, with the goal of growing the crop-monitoring tech startup he founded.

It looks like McElhone’s big move is beginning to pay off: His company, CropSafe, announced a $3 million seed funding round on Tuesday that will help it develop and scale its remote crop-monitoring capabilities for farmers. Venture firm Elefund led the round and was joined by investors Foundation Capital, Global Founders Capital, V1.VC and Great Oaks Capital, as well as angel investors Cory Levy, Josh Browder and Charlie Songhurst. The capital will go toward growing CropSafe’s six-person engineering team and building up its new U.S. headquarters in Santa Monica.

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Cedars Sinai Health Ventures’ Maureen Klewicki on How Tech Is Changing Health Care

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
Maureen Klewicki
Image courtesy of Maureen Klewicki

On this episode of the LA Venture podcast, Cedars Sinai Health Ventures’ Maureen Klewicki talks about price transparency for health care, the labor shortage crisis and emerging payment models.

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