InCharge Energy, an EV charging and energy solutions provider, has announced a $46 million investment led by multi-asset investment firm S2G Investments, with participation from QIC, a globally diversified investment manager.

The funding will support InCharge’s expansion beyond EV charging into broader energy solutions, including electrical infrastructure, distributed energy resources, backed by advanced software and its in-house national service organization.

InCharge also plans to use the capital to expand its technician workforce, increase route density in key markets, and accelerate the development of its InControl platform, which is said to provide customers with a single platform to manage, operate, and maintain their entire energy and electrical infrastructure portfolio.

The platform also serves as a system of record for warranties, service contracts, preventive maintenance programs, subscriptions, asset history, and operational data across battery energy storage systems, solar, transformers, switchgear, electrical distribution equipment, lighting, and other balance-of-power infrastructure.

“Demand for reliable, tech-enabled network operations will only intensify as the installed base of chargers and distributed energy resources continues to expand and mature,” said Bala Nagarajan, Managing Director at S2G. “We believe InCharge is exceptionally well-positioned to capture that shift and move the industry from reactive, break-fix maintenance to proactive, performance-driven management. We’re looking forward to supporting the team on its next chapter of growth.”

InCharge said its service network manages more than 30,000 assets across North America, serving major fleets, school districts, municipalities, and others.

IMPROVED Corporate Finance served as the exclusive financial adviser to InCharge. Gunderson Dettmer served as legal counsel to InCharge, while Paul Hastings served as legal counsel to S2G.

According to Mercom’s Q1 2026 Funding and M&A Report for Smart Grid, VC funding for Smart Grid companies increased 8% YoY, with $373 million raised in 14 deals in Q1 2026 compared to $346 million in 18 deals in Q1 2025.

In Feb 2026, India-based EV charging network operator Statiq raised about ₹18 million (~$197k) through a mix of debt and equity. The funding round was led by Tenacity Ventures, with participation from Y Combinator, Shell Ventures, and RCD Holdings. The fresh capital will be used to aggressively expand its charging infrastructure and deepen its footprint across tier-1 and tier-2 cities.