Platform Capital completes investment in Omnicharge Group

Platform Capital is pleased to announce its investment in Omnicharge Group, a Silicon Valley based, leading IoT-equipped portable power solution provider for commercial infrastructure power design and professional electronic devices. The business currently serves over 50,000 customers in 70+ countries and holds 22 product design patents and 6 manufacturing patents on its products. The business has an established global distribution network across the US, Japan, Canada & Europe in partnership with global brands like Amazon, BestBuy and Costco.

This investment will help Omnicharge drive its product marketing, increase its production capacity and deepen its research & innovation spend. Other investors in this round includes Founders Fund, Alabaster Fund and other top tier Silicon Valley investors.

As part of its investment, Platform is supporting Omnicharge’s growth into Africa with the appointment of an exclusive master distributor and the provision of market feedback for the development and customization of products for the Africa market.

Platform is excited by the product launch and looks forward to the impact these products will have on improving the productivity and quality of life for the African consumer as a disruptive last mile power solution.

According to Jason Wong, CEO and Founder of Omnicharge.

The three recipe an entrepreneur needs for a successful business.⁣
By @JasonAtOmni CEO @omni_charge.⁣
⁣
1. You’ve got to find the passion.⁣
2. Build a team- they’re your family.⁣
3. Customers- know your customers. ⁣ pic.twitter.com/GWzrtlkt24

— Ingressive (@_Ingressive_) June 14, 2019

– We are happy with the support from the global VC community and excited to have Platform Capital as one of our investors. Platform’s investment is important to us as their patient capital and long-term approach is aligned with management’s long-term vision to create a sustainable business. In addition, their hands-on, bottom-up approach and on-the-ground insights on the Africa market provide the basis for value-centric customisation in the region. Platform’s value-add is key to our mission of creating a global business with customized solutions for specific regions. Through Platform, we are already exploring opportunities in over 20 African countries. Our partnership will play a significant role with unlocking the potential of Africa commerce through the provision of modular, sustainable power solutions to small businesses and households.

According to Mayowa Ayodele, Chief Investment Officer, Platform Capital

- Omnicharge’s value proposition is underscored by reduced energy costs and improved efficiency. Our partnership with Omnicharge is driven by an attractive scalable business model, product offering with continental appeal and the ability to customise for market needs. This investment reinforces our region agnostic, growth focus and partnering approach.

The law firm of White Summers Caffee & James LLP acted as legal adviser to Omnicharge, and Sefton Fross acted as legal adviser to Platform Capital.