L-Charge Secures $10 Million from Ultra Capital to Expand Off-Grid EV Charging in the US
L-Charge did not show up to negotiate with the grid. It showed up to bypass it. Founded in 2020 and headquartered in Sunnyvale, CA, with manufacturing muscle in Pomona and Riga and an operating spine that runs through Menlo Park and London, this company exists for fleets staring at utility timelines that read 12 to 24 months of delay. Dmitry Lashin, Founder and CTO, holds a PhD in Computer Science and Mathematics and the lived experience of managing a decentralized organization through a $1B M&A. After 20+ years building power infrastructure, he built something simpler. Bring the power to the vehicles, not the other way around.
On Jan 19, 2026, L-Charge added fuel to that thesis with a $10M equity round led by Ultra Capital LLC out of Philadelphia, with Dmitry Lashin co-investing again. Kristian Hanelt, Partner at Ultra Capital, returns after leading the $8M Series A in Sept 2024. Total funding now sits at $19.5M, valuation undisclosed, trajectory very disclosed. Capital follows velocity, and this company moves fast.
The tech does not posture. It performs. Offgrid ultrafast charging at 180kW per unit, dual guns speaking CCS1, NACS, and CHAdeMO. Two vehicles at 90kW or one at 180kW, scaling to 360kW when trailers stack. Each unit generates 4.32MW in 24 hours, runs on LNG, RNG, or hydrogen, and fits inside an 8.5 by 30 ft parking footprint. Charging as a Service and Power as a Service remove upfront capex and lock pricing to a flat per kWh rate. No utility upgrade. No waiting room.
The numbers read like field notes. 3M+ kWh delivered in the past year. 9M+ electric miles powered. 400+ daily charging sessions supporting Tower Mobility’s LA rideshare fleet. Alto scaled without pouring concrete. Fleets expanded vehicle counts up to 5x without reinvesting in infrastructure. Deployments land in weeks, not fiscal years.
The operators know this terrain. Stephen Kelley, CEO, brings six exits and revenue discipline from Green Charge Networks and InCharge Energy. Stephen Soroosh, COO and Head of Product, adds 25+ years of automotive pattern recognition. Pavel Ovsiannikov runs commercial motion. Benjamin Mandel and Evgeny Shcherbak push markets. Epic Charging connects the OCPP 2.0 layer. CNG DIRECT, LLC keeps fuel flowing.
This round expands national installs, grows sales and ops, and pushes the roadmap beyond the current 180kW platform, including marine charging. Manufacturing scales on two continents. The target is 20,000 deployments over 10 years, aimed at fleets that cannot afford to wait for permission. Power that shows up early changes decisions, and L-Charge is already parked.