ChargeSync Becomes First Successful UK Campaign on Invesdor

Following the closing of ChargeSync’s campaign, Invesdor announced that the company’s initiative became the first UK success on the crowdfunding platform. ChargeSync is a London-based company that is looking to cut power bills and emissions by storing and optimizing power for household or business consumption. The company revealed:

“At ChargeSync our vision of the future of energy is one where intelligent embedded batteries in our homes and business premises autonomously smooth demand, discharging during more expensive times, and charging during cheaper periods. In this way batteries will act (independent of solar panels) to reduce your electricity bill, make the energy you consume greener, and create a system that better matches power supply with demand. Having worked in energy trading since 1999, developing algorithms to optimise gas storage and working on embedded power generation from solar sites, I noticed the falling cost of battery capacity due to electric vehicles. With this vision of the future in our minds, ChargeSync was incorporated.”

The company filed for patent protection for the process of coordinating and optimizing embedded batteries in June 2013. Since the filing, ChargeSync has achieved the following:

• Secured a grant from Innovate UK for up to £150,000 of match funding, of which the company has utilized £75,000 to date.
• Raised £110,000 under seed EIS from friends and family investors
• Built three proof of concept prototypes
• Built an operational optimization platform under Microsoft Azure
• Explored avenues for cooperation with targetted UK energy suppliers
• Identified a source of first box revenues

During its time on Invesdor, ChargeSync raised £129,740 from 40 investors. While sharing the exciting news about ChargeSync’s success, the funding portal added:

“Congratulations to ChargeSync Ltd. for becoming the first successful UK case on Invesdor and the sign of many more to come! ChargeSync’s funding round closed this week at 166% subscribed, and the company can now begin taking their growth steps with the new funding. Thank you and congratulations to everyone who invested in ChargeSync.”