Jägermeister invests £2m in phone charging start-up

By Emily Hawkins contact

- Last updated on GMT

Power play: phone charging network ChargedUp will grow its reach with investment from Jägermeister UK via M-Ventures
Power play: phone charging network ChargedUp will grow its reach with investment from Jägermeister UK via M-Ventures

Related tags: Technology

Herbal liqueur company Jägermeister has led an investment of £2m into a network of mobile power bank rental stations.

The company’s innovation and investment vehicle – Jägermeister via M-Venture – has put the wheels into motion on the project.

Pubgoers can rent power banks by scanning a QR code through an app, with chains including Stonegate and BrewDog stocking the banks.

With the investment, the company will grow its presence in late-night venues in the UK and expand into Germany and other parts of Europe.

The funds will also be used to expand ChargedUp’s product range and assist the service to improve users’ experiences.

ChargedUp chief executive Hugo Tilmouth said the start-up was keen to pursue European expansion.

He said: “We’re thrilled to be working with a partner like M-Venture as their investment will help us to super charge our growth in the late night sector and ensure more people across Europe won’t get caught out when their phone battery is low.” 

Battery anxiety

M-Venture's managing director Christoph Goeken said: “The mission of Jägermeister is to create the best nights of your life and ChargedUp’s offering is also built around powering these nights. Together, we want to help consumers to focus on having fun instead of worrying about empty phone batteries.”

Social media influencers, including YouTube star Caspar Lee, have also been involved in previous investment into the company.

The start-up works with a green energy supplier Octopus Energy, which matches the power used through the network worldwide with renewable energy directly into the grid.

Customers will be more inclined to stay out longer when they can charge their phones at a pub, as previously reported by The Morning Advertiser​.

Related topics: Technology

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