SparqX raises $24M Series A to expand global powerbank network

BERLIN, May 12, 2026 — SparqX GmbH, operator of a single-network shared powerbank rental service, today announced the closing of a $24 million Series A funding round. The round was led by a European venture fund with participation from operators and angels with backgrounds in consumer hardware, mobility platforms, and retail networks.

Proceeds will be used to double EU station deployment by end of 2026, launch a pilot in the MENA region in Q4 2026, expand the partner financing program, and grow the field operations team in five new metropolitan areas.

"We're not building a charging app. We're building the physical infrastructure that keeps the modern world powered," said Denis Star, founder and CEO. "This round lets us go from 18,420 stations across 27 countries to a multi-region network with the same standards everywhere."

Founded in 2024, SparqX operates a single-wallet network: users tap to rent at any SparqX station and return at any other station, anywhere in the network. The company's hardware is owned by SparqX or licensed to operating partners who share network revenue. The model is benchmarked against the proven Chinese category leader, which exited via a $2.1B IPO in 2021.

"The Chinese market saturated this category in one country. We're applying the same playbook to the other 200+," added Mira Vance, COO.

About SparqX: SparqX is building the world's first single shared powerbank network. One app, one wallet, every station, every country. Headquartered in Berlin with operations in Lisbon, the company operates 18,420 stations across 27 EU+UK countries as of May 2026. More at sparqx.com.

Media contact: press@sparqx.com