FreeWire Technologies, Inc.
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FreeWire Technologies, Inc. - overview
Established
2014
Location
San Leandro, CA, US
Primary Industry
Energy Storage & Batteries
About
FreeWire Technologies, Inc. develops advanced electric vehicle charging solutions, integrating efficient onboard battery storage to enable rapid deployment of charging infrastructure for fleet operators. Founded in 2014 and headquartered in San Leandro, US, FreeWire Technologies, Inc. specializes in innovative EV charging solutions.
The company was co-founded by Arcady Sosinov, Jawann Swislow, and Richard Steele. FreeWire has raised a total of USD 29. 32 mn in its latest Series E funding round on November 6, 2023, contributing to a total amount raised of USD 29. 32 mn and a current company valuation of USD 200.
11 mn. FreeWire Technologies, Inc. provides ultrafast electric vehicle (EV) charging solutions designed specifically for fleet operators, featuring onboard battery storage. These solutions enable quick installation of charging infrastructure, helping to overcome challenges such as high costs and long installation wait times.
The company primarily serves commercial fleet operators in urban areas with limited power availability and regions lacking traditional charging infrastructure, allowing for deployment within days or weeks. FreeWire generates revenue through the direct sales of its ultrafast EV chargers and subscription services related to its Asset Management Platform (AMP), which provides ongoing management and monitoring. Transactions typically occur through business-to-business agreements, and pricing strategies are designed to be scalable, accommodating clients as their fleet sizes increase. Partnerships with utility companies may also be established to improve energy efficiency and costs, contributing to a steady revenue stream.
In November 2023, FreeWire Technologies, Inc. secured USD 29. 32 mn in Series E funding, part of a larger USD 44. 12 mn round, which will be used to enhance product development and market expansion.
The company aims to introduce new products focused on ultrafast charging technology and plans to enter additional geographic markets by 2024, targeting areas with growing EV adoption and infrastructure challenges.
Current Investors
Elemental Impact, Stanley Ventures, Momenta Partners
Primary Industry
Energy Storage & Batteries
Sub Industries
Energy Storage & Batteries
Website
www.freewiretech.com
Verticals
Clean Technology, Electric & Hybrid Vehicles, Manufacturing
Company Stage
Series E
Total Amount Raised
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