In Charge One
About this raise
In Charge One, with a valuation of $6 million, is raising funds on Wefunder. The company has developed a simple pocket socket that allows businesses to take control of their electricity. In Charge One’s patented technology turns business sockets into revenue-generating charging stations and has huge potential in malls, cafes, hotels, and airports. Each In Charge One device can generate up to $1,000 per month for business owners, depending on usage, and is the first-to-market charging solution with no direct competitors. Daniel Tonkopiy founded In Charge One in March 2023. The current crowdfunding campaign has a minimum target of $80,000 and a maximum target of $1.24 million. The campaign proceeds will be used for the production and certification of the first batch of indoor devices, logistics, software development, hiring, social media marketing, patents, and operational expenses.
Investment Overview
Committed $17,800 :
Deal Terms
Company & Team
Company
- Year Founded
- 2023
- Industry
- Consumer Products, Goods & Services
- Tech Sector
- Distribution Model
- B2B
- Margin
- Medium
- Capital Intensity
- Low
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Synopsis
In Charge One is a company operating in the consumer products, goods, and services industry. It provides a solution for businesses to transform their power outlets into revenue-generating charging stations. The company's primary customers are businesses such as malls, cafes, hotels, and airports that can benefit from offering charging services to their patrons.
The problem In Charge One addresses is the underutilization of power outlets in commercial spaces. Many businesses have numerous electrical sockets that are not used to their full potential. These sockets could be leveraged to provide a service that meets the growing demand for convenient charging options for mobile devices.
In Charge One's solution is a patented pocket socket device that allows businesses to monetize their existing power outlets. The device is designed to be easy to use and can generate up to $1,000 per month per unit for business owners, depending on usage. This approach provides a new revenue stream and enhances customer satisfaction by offering a sought-after service.
In everyday terms, consider how often individuals need a quick charge for their devices while visiting a café or waiting at an airport. In Charge One's product turns this common situation into an opportunity for businesses to provide a valuable service while generating additional income. This practical application makes the concept relatable and highlights its potential benefit to both businesses and consumers.
Price
In Charge One is raising capital through a SAFE (Simple Agreement for Future Equity) with a valuation cap set at $6 million and no discount offered. This structure allows investors to convert their investment into equity at a future date, typically during a subsequent financing round, at a valuation not exceeding $6 million.
For investors to achieve a 10X return on their investment, In Charge One would need to reach a valuation of $60 million upon exit. This calculation does not account for potential dilution, which could impact returns. Achieving such a valuation would likely require significant growth in both revenue and market presence, necessitating successful scaling and widespread adoption of its charging solutions.
Startups in similar sectors often face challenges in reaching high valuations unless they demonstrate substantial market traction and revenue growth. The lack of direct competitors could provide In Charge One with a unique opportunity to capture market share, but the company's ability to scale production and distribution efficiently will be critical to achieving the desired exit valuation.
High revenue multiples typically suggest that a deal may be overvalued unless the company's growth rate aligns with its valuation. Investors should consider the potential for market expansion and the company's strategic positioning when evaluating the investment terms. Given the current valuation cap, the investment may present a reasonable entry point, provided the company can execute its growth strategy effectively.
Market
The U.S. electric plugs and sockets market, which In Charge One targets, is valued at approximately $3.37 billion and is expected to grow at a compound annual growth rate (CAGR) of 5.83%. This growth is driven by several key factors, including the increasing reliance on mobile devices and the expansion of smart cities. As more consumers depend on smartphones and tablets for daily activities, the demand for accessible charging solutions in public spaces is rising.
The market trends favoring smart city initiatives also present opportunities, as these projects integrate technology with public infrastructure, increasing the need for public charging stations in urban areas, transit hubs, and other high-traffic locations. Additionally, modern consumer expectations for convenience have led to a rise in demand for amenities like charging stations in commercial establishments. This trend aligns well with In Charge One's business model, which aims to provide businesses with the means to capitalize on this growing consumer need.
While the company's product has the potential to serve a broad segment of the market, its appeal may initially be stronger in niche settings such as cafes, malls, hotels, and airports. These environments are frequented by consumers who are likely to need charging solutions, making them ideal early adopters of In Charge One's technology. Over time, as the product gains traction and the company establishes its brand, the market reach could expand to include a wider array of commercial locations.
However, the market also presents challenges. The proliferation of portable power banks offers a convenient alternative to public charging stations, potentially reducing dependency on fixed installations. Additionally, issues such as energy and grid dependency, as well as the need for consistent maintenance and security of public charging units, might pose operational hurdles. Despite these challenges, the growing mobile device penetration and smart city trends suggest a positive long-term outlook for companies like In Charge One that are well-positioned to meet evolving consumer needs in the electric plugs and sockets market.
Team
In Charge One's leadership team is spearheaded by Daniel Tonkopi, the CEO, who brings 18 years of industry experience as a serial entrepreneur and cleantech expert. Tonkopi previously founded Delfast, where he developed the world's longest-range electric bike, earning a Guinness World Record. His experience in creating and scaling hardware products is directly relevant to In Charge One's goals of developing and commercializing its charging solutions.
Andrii Shevel, the Chief Technology Officer, has a background in power conversion and precision energy monitoring, having developed systems for submarines, drones, and UAVs. His technical expertise is crucial for ensuring the reliability and efficiency of In Charge One's charging devices, aligning with the company's objective to provide high-quality, sustainable solutions.
Leah Altukhova serves as the Project Manager for Operations. Her experience in managing large teams and coordinating complex logistics processes is essential for overseeing the production and distribution of In Charge One's products. Her operational skills support the company's aim to scale its business efficiently and effectively.
While the team possesses strong technical and operational capabilities, there may be gaps in areas such as marketing and sales strategy, which are critical for driving customer acquisition and market penetration. Addressing these gaps could be vital for achieving In Charge One's future milestones, particularly as it seeks to expand its presence in the competitive charging solutions market.
Differentiation
In Charge One differentiates itself in the market by offering a patented charging solution that transforms standard business sockets into revenue-generating stations. This approach sets it apart from competitors such as ChargerGoGo, ChargeFuze, and Fuelrod, which primarily focus on portable charging solutions or rental models. These competitors generally offer products that are either portable power banks or kiosks providing temporary power solutions for mobile devices.
Compared to these competitors, In Charge One's product is designed for permanent installation in commercial settings, providing a continuous service that can generate recurring revenue for business owners. In terms of company size, In Charge One is a smaller entity, still in its early stages of growth, while competitors like ChargeFuze and Fuelrod have more established market presence and broader distribution networks. However, In Charge One's unique value proposition lies in its ability to turn existing infrastructure into a monetized service, potentially offering a cost-effective solution for businesses.
The target customer demographics for In Charge One include business owners and operators of commercial venues such as malls, cafes, hotels, and airports. These customers are typically looking to enhance their service offerings and improve customer satisfaction by providing convenient charging solutions. The end users of the charging stations are likely to be tech-savvy individuals who frequently use mobile devices and require charging access while on the go. This demographic often includes travelers, shoppers, and patrons of public spaces who value convenience and accessibility.
In Charge One's pricing strategy is focused on providing a value-added service that can generate income for businesses, potentially making it an attractive investment for venues with high foot traffic. By leveraging patented technology, the company aims to offer a distinct product that not only meets consumer demand for charging solutions but also provides a financial incentive for businesses to adopt its technology.
Performance
In Charge One is currently in the early stages of its business lifecycle, with no recorded revenue to date. The company is focused on developing its product and establishing a market presence. This phase is crucial for validating its business model and securing initial customers to generate revenue.
Financially, In Charge One's most recent cash on hand is approximately $3k, with a monthly burn rate of about $26k. These figures highlight the company's need for additional funding to sustain operations and support growth initiatives. The current cash position suggests a limited runway, emphasizing the importance of securing further investment to achieve its strategic goals.
Despite the lack of revenue, In Charge One reports having patented technology and a significant interest from potential customers. The company claims that 45% of surveyed businesses have expressed a desire to purchase its charging device. This interest could indicate a favorable market reception once the product is fully launched and available for purchase.
The company's performance metrics underscore the necessity of transitioning from development to revenue generation. Establishing a customer base and achieving initial sales will be critical steps in demonstrating the viability of its business model and attracting further investment to support scaling efforts.
Risk
Investing in In Charge One presents several specific risks that potential investors should consider. One significant risk is the company's current financial state, characterized by a low cash runway. As of the most recent fiscal report, In Charge One has a cash balance of approximately $3k, with a monthly burn rate of roughly $26k. This financial situation indicates that without additional capital, the company may struggle to sustain operations in the short term, necessitating further fundraising efforts that could lead to dilution for existing investors.
Another key risk factor is the part-time status of the founders, which may impact the company’s ability to execute its strategic initiatives at the necessary pace. Founders who are not fully dedicated might face challenges in addressing operational hurdles and scaling the business efficiently, potentially affecting the company's growth trajectory and market penetration.
In Charge One is early to market with its charging solutions, which introduces adoption risk. While being first-to-market can provide a competitive advantage, it also requires significant efforts in educating potential customers and convincing businesses to adopt the technology. This risk is compounded by the need to establish robust sales channels and partnerships to reach a wide customer base.
Additional considerations include the complexity of building a two-sided marketplace, as In Charge One's business model effectively serves both businesses and their customers. Successfully developing this platform requires substantial capital and strategic execution. Moreover, such platforms typically result in a limited number of dominant players, increasing the pressure to rapidly achieve market leadership.
Finally, while In Charge One's valuation cap is set, the absence of paying customers and revenue at this stage could pose valuation risk. Investors should weigh these factors carefully, considering the company's ability to execute its business plan and achieve market traction against the backdrop of these challenges.
Bullish Outlook
The bullish outlook for In Charge One is supported by several positive factors that highlight its potential for growth and success. The company is positioned to capitalize on significant market opportunities driven by the increasing reliance on mobile devices and the expansion of smart cities. These trends enhance the demand for convenient charging solutions in public spaces, aligning well with In Charge One's business model of transforming business sockets into revenue-generating stations.
A unique strength of In Charge One lies in its patented technology, which provides a distinctive competitive advantage in a market with few direct competitors. This technology allows businesses to leverage existing infrastructure, offering a cost-effective solution that can enhance customer satisfaction and generate additional revenue streams.
The leadership team, led by CEO Daniel Tonkopi, brings a wealth of experience in hardware development and commercialization. Tonkopi's track record in creating successful products, such as the Delfast electric bikes, underscores the team's capability to execute product development and market strategies effectively.
Growth drivers for the company include the potential expansion into new markets and the targeting of high-traffic commercial venues like malls, cafes, and airports. By focusing on these settings, In Charge One can rapidly increase its product adoption and market penetration. Additionally, the company's ability to secure interest from 45% of surveyed businesses indicates a strong foundation for future sales growth once the product is fully launched.
While In Charge One currently faces financial constraints, the favorable investment terms, including a capped valuation, may attract investors looking for early-stage opportunities with high potential returns. The company's strong market interest and patented technology position it well for securing additional funding, which could alleviate financial pressures and support its expansion efforts.
Overall, the combination of market alignment, technological differentiation, and experienced leadership provides a solid basis for a bullish perspective on In Charge One's future prospects.
Bearish Outlook
The bearish outlook for In Charge One is influenced by several key factors that could impact its ability to achieve sustained growth and financial stability. One primary concern is the company's current financial situation, characterized by a low cash balance of approximately $3k and a monthly burn rate of about $26k. This limited runway suggests a pressing need for additional funding, which, if not secured in a timely manner, could hinder operations and strategic initiatives.
Market challenges also pose significant risks. While there is potential in the growing demand for public charging solutions, the proliferation of portable power banks offers a convenient alternative that could reduce dependency on fixed installations like those offered by In Charge One. Additionally, establishing a two-sided marketplace requires substantial capital and strategic execution, presenting a hurdle in achieving market penetration and leadership.
Another concern is the company's relatively early market entry, which introduces adoption risk. Educating potential customers and convincing businesses to integrate the charging solution may take considerable time and resources. This challenge is compounded by the lack of a proven track record, as the company has yet to generate revenue or secure paying customers.
From a competitive standpoint, In Charge One faces disadvantages when compared to more established players in the charging solution space. Competitors like ChargerGoGo and ChargeFuze have already secured market presence and distribution networks, which may make it difficult for In Charge One to capture significant market share and differentiate itself effectively.
Leadership concerns also contribute to the bearish outlook. The part-time status of the founders could impact the company's ability to swiftly execute its business plan, potentially delaying critical milestones and market expansion efforts. Additionally, gaps in marketing and sales expertise could further impede customer acquisition and growth.
Overall, while In Charge One's concept has merit, these financial, market, and operational challenges present significant obstacles that must be addressed to improve its long-term prospects and attract investor confidence.
Executive Summary
In Charge One is a company focused on transforming standard business power outlets into revenue-generating charging stations. Its core customers include commercial venues such as malls, cafes, hotels, and airports. The company's solution addresses the growing demand for convenient charging options in public spaces.
The company is raising capital through a SAFE with a valuation cap of $6 million. In Charge One currently has no recorded revenue and a limited cash runway, with approximately $3k in cash on hand and a monthly burn rate of about $26k. These financial metrics highlight the need for additional funding to sustain operations and achieve growth. The company's patented technology has garnered interest from potential customers, indicating a favorable market reception once the product is launched.
The U.S. electric plugs and sockets market, valued at approximately $3.37 billion, is growing at a CAGR of 5.83%. In Charge One's product is positioned to capitalize on trends such as increased mobile device usage and smart city initiatives. The company differentiates itself by offering a unique solution that monetizes existing infrastructure, targeting a broad market segment with an initial focus on niche environments.
The leadership team, led by CEO Daniel Tonkopi, brings relevant experience in hardware development and operational management. However, there are potential gaps in marketing and sales strategy that could impact customer acquisition. Risks include the company's early market entry, low cash reserves, and the part-time status of founders, which may affect execution speed and strategic focus.
The bullish outlook for In Charge One is supported by its patented technology, strong market interest, and alignment with growth trends in mobile device usage and smart city projects. Conversely, the bearish outlook highlights financial constraints, the need for effective market penetration strategies, and operational risks associated with scaling the business.
Overall, In Charge One presents a mixed investment opportunity. The company's innovative approach and market potential are promising, but significant challenges remain in terms of financial stability and execution. Investors should weigh these factors carefully, considering both the potential for growth and the inherent risks.
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $240,000
- VC Backed?
- Yes
Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
---|---|---|---|---|---|---|
04/30/2025 | Wefunder | $6,000,000 | $17,800 | SAFE | Active | RegCF |