Israeli electric vehicle charging company Chakratec is believed to be planning to become the latest tech company to hold an initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE). Market sources believe that Chakratec will try to raise several tens of millions of shekels at a company valuation of NIS 350-400 million, before money, even though it has a ‘going concern’ attached to its financial report.
Chakratec says that it is boosting e-mobility by enabling fast and ultra-fast EV charging through unique kinetic storage. The company was founded in 2013 by CTO Ilan Ben-David, CCO Nir Zohar and David Pincu VP RD.
The company is yet to produce revenue and reported a net loss of NIS 9 million in the first half of 2020, after losing NIS 24 million in 2018 and 2019.
Published by Globes, Israel business news – en.globes.co.il – on February 14, 2021
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