The Lisbon-based startup EGG Electronics is one of Europe’s most innovate manufacturers of personal charging devices. The company’s first product – EGG PowerStation – is a charging station that combines user-centered product design and engineering with over 100 combined man-years in the field of premium quality charging devices. Most recently, the Portuguese startup closed an investment round with Portugal Ventures, Energias de Portugal, Ganexa Capital e Creative Wings which has placed the company above the €1 million funding barrier.
For EGG, this investment represents the resources and confidence to execute an ambitious vision of changing personal charging, from Europe to the rest of the world. It (hopefully) will take the company to the next level of success. The investment is the first of three rounds necessary for EGG’s plan to reach a worldwide business revenue of € 100 million by the end of 2021.
The investment will be used mainly for quick growth in the EU and US. Additionally the funding round aims at ramping up development speed to deliver an ambitious product pipeline by the end of 2017. In total there are 4 new product lines to be developed and launched on 3 continents.
Ricardo Roque, Founder and COO of EGG Electronics stated: “The company is thrilled to belong to a family of successful companies invested by the 4 mentioned funds and to start working together with great technology partners, clients and professionals worldwide to change the way people charge their personal devices worldwide.”