Xeal is a company.
Xeal has raised $40.0M across 1 funding round.
Key people at Xeal.
Xeal has raised $40.0M in total across 1 funding round.
Key people at Xeal.
Xeal has raised $40.0M in total across 1 funding round.
Xeal's investors include Asylum Ventures, Blackhorn Ventures, Energize Ventures, National Grid Partners, Powerhouse Ventures, Wind Ventures, Kiran Bhatraju.
Xeal is a cleantech company founded in 2019 that builds EV charging stations and software solutions optimized for multifamily apartments, commercial real estate, workplaces, and other properties.[1][2][5] It serves property owners, managers, and EV drivers by solving electrification challenges through reliable, low-friction hardware and cloud-based tools for payments, load management, revenue sharing, and grid integration, without needing external IT or internet.[1][5][7] With $64M raised across Series B funding (including a $40M round in 2023 led by Keyframe Capital), Xeal has expanded to 400+ cities, doubled its charger network in 2025, and earned recognition as the #1 most innovative EV charging technology in transportation.[1][3][5]
The company targets the booming demand for EV infrastructure in real estate, where buildings represent a key opportunity for scalable adoption. Its growth includes partnerships across medical, retail, university, and multifamily verticals, with a network nearing 10,000 chargers and recent hires like COO Alastair Westgarth to fuel commercial expansion.[3][5][6]
Xeal emerged from the Los Angeles Cleantech Incubator (LACI) in 2019, launching its first centralized networked platform for workplaces, apartments, and fleets.[3][5] Co-founders, including CTO Nikhil Bharadwaj and others with proptech and energy expertise, identified the pain of fragmented EV charging in buildings and re-engineered solutions at the intersection of proptech, energy, and mobility.[5][6] Early traction came as a 2020 global finalist in a Comotion/London Department of Transportation startup competition.[5]
Pivotal moments include a 2021 $11M Series A with a patent-pending token-ledger payment system (highlighted in TechCrunch), a 2022 HQ move to NYC's SoHo amid team growth, a 2023 $40M Series B tripling headcount to ~30 employees, and 2025 milestones like network doubling and Forbes 30 Under 30 recognition for founders.[3][5][6] A $10M line of credit from Bridge Bank supported scaling.[2]
Xeal rides the EV adoption wave, where U.S. multifamily and commercial real estate must electrify parking amid mandates and driver demand—projected to need millions of chargers by 2030.[1][3][5] Timing aligns with falling battery costs, federal incentives like IRA tax credits, and grid strain solutions via smart load management.[2] Market forces favoring Xeal include proptech convergence with energy (e.g., buildings going 100% renewable) and competition from less integrated players like Chargie or Loop.[1]
It influences the ecosystem by licensing Apollo for broader adoption, partnering with real estate giants, and enabling "intelligent buildings" that prioritize mobility and sustainability over rip-and-replace upgrades.[3][5][7]
Xeal is poised to dominate real estate EV charging with its frictionless model, targeting 10,000+ chargers soon and Apollo licensing deals with major players.[3][5] Trends like AI-optimized grids, V2G (vehicle-to-grid), and denser urban EV fleets will amplify its edge, especially as regulations push property electrification. Expect influence growth via Hudson Sustainable Group backing and CRO Eric Roseman-led enterprise wins, solidifying Xeal as the reliable backbone for building-scale clean energy transitions.[4][6] This positions it to capture a slice of the $100B+ global EV charging market while humanizing the shift to electric mobility.
Xeal has raised $40.0M across 1 funding round. Most recently, it raised $40.0M Series B in November 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2022 | $40.0M Series B | Asylum Ventures, Blackhorn Ventures, Energize Ventures, National Grid Partners, Powerhouse Ventures, Wind Ventures, Kiran Bhatraju |
