Dealflow | December 17, 2020

EV infrastructure startup OBE Power raises $300,000 in Opportunity Zone funding

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, December 17 — Lack of charging infrastructure is one of the biggest inhibitors to electric vehicle adoption in the U.S. Miami-based OBE Power is one of a growing number of startups helping resolve the issue by building a network of electric vehicle charging stations. The Latinx-led software company operates more than 200 stations in South Florida. It aims to have 2,500 stations up and running nationally by 2023.

The company raised $300,000 in a seed investment round led by Verte, an Opportunity Fund that invests in early-stage companies in technology, life sciences, food and health (see, “Verte Opportunity Fund backs Galen Robotics in Baltimore Opportunity Zone”). Several angel investors also participated in the equity round.

The capital will support OBE’s expansion into new markets, including Texas, North Carolina, South Carolina and Georgia.

The company has raised $1.8 million to date, most of which was provided by the founders’ friends and family prior to COVID, said OBE’s Julia Wilkinson.