SparkCharge, makers of the Roadie mobile EV charging system, received 1 Million from a team of Mark Cuban & Lori Greiner

Cuban and Greiner will each get a 7% stake (5% + 2% advisory shares) in the company as well as a seat on the Board of Directors.

SparkCharge just recently unveiled the 20 kW Roadie portable DC fast EV charging system. However while on Shark Tank the company revealed that it is also working on a smaller, less expensive unit that would be consumer-focused. Estimates that the current usable system capacity of 17.5 kWh is good enough to provide 60 to 75 miles of range.

SparkCharge plans to lease the Roadie systems to roadside service providers and said that AAA is already a customer. Customers in need of a charge will use an app called BoostEV to find the closest service provider.

"Being on Shark Tank is every entrepreneur's dream. We couldn't be happier to have partners like Mark Cuban and Lori Greiner, we are truly grateful to have such great minds on our side, we're super excited about the future.  This success means a lot to our company, but really means even more for the electric vehicle industry. EVs are on prime time, they are no longer a novelty, they are mainstream. The world is changing, and we're ready to lead that charge." - Joshua Aviv, Co-founder SparkCharge

SparkCharge's Roadie service is currently available in Richmond, VA, Chicago, IL, Boston, MA, Dallas, Houston and San Antonio, TX, Washington, DC, San Francisco, Los Angelos, and San Diego, CA as well as in Manchester, UK, with more markets coming soon.

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Economics, Finance and Investing