Xeal Energy
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| Private | |
| Industry | Electric vehicle charging; Clean technology |
| Founded | 2019 |
| Founders | Alexander Isaacson; Nikhil Bharadwaj |
| Headquarters | New York City, United States |
Area served | United States |
Key people | Nikhil Bharadwaj (CEO); Alastair Westgarth (COO); Daniel Feldman (CTO) |
| Products | Level 2 EV charging stations; Apollo/Helix distributed‑ledger connectivity protocol; EV charging software |
| Services | EV charging installation; Charging management software; Mobile EV charging app |
Number of employees | ~35–70 |
| Website | https://xealenergy.com |
Xeal Energy (legally EVE Energy Ventures, Inc.) is an American electric vehicle charging technology company headquartered in New York City. Founded in 2019, the company develops distributed‑ledger–based charging systems designed for multifamily, commercial, and mixed‑use real estate. Xeal’s platform enables EV chargers to operate without Wi‑Fi or cellular connectivity through a cryptographic token system, a design highlighted in independent technical reviews for improving reliability in real‑estate environments.[1]
History
Xeal was founded in 2019 by Alexander Isaacson and Nikhil Bharadwaj to address reliability issues in real‑estate–based EV charging. Early industry reporting noted the company’s use of distributed‑ledger authentication to reduce dependence on network connectivity.[1]
In 2021, Xeal raised US$11 million in Series A funding to expand development of its offline connectivity protocol for EV charging. The round was led by Keyframe Capital with participation from ArcTern Ventures and Clean Energy Ventures.[2]
The company later secured US$40 million in Series B funding in 2022, led by Keyframe Capital.[3]
In September 2024, Xeal appointed former Loon and Starship Technologies executive Alastair Westgarth as Chief Operating Officer.[4]
In May 2025, Nikhil Bharadwaj was appointed the company’s CEO.[5]
In August 2025, the company announced the appointment of Daniel Feldman as Chief Technology Officer.[6]
Technology
Xeal’s core technology, originally branded as Apollo and later described in industry reporting as part of a broader Helix Computing architecture, uses time‑bound cryptographic tokens stored on driver smartphones. These tokens contain authentication and payment data, allowing chargers to function without live internet connectivity.[1]
A 2021 analysis by TechCrunch described Xeal’s protocol as an offline, distributed‑ledger–based authentication system that uses cryptographic tokens exchanged between a driver’s smartphone and the charger. According to the report, this design is intended to address reliability challenges in multifamily and commercial real‑estate environments where network connectivity is often limited.[2]
In 2024 Motor Trend has noted that this offline‑first design enables deployment in locations where Wi‑Fi or cellular coverage is unreliable or cost‑prohibitive, such as large apartment complexes and campus housing.[1]
Products and services
Xeal provides:
- Level 2 EV charging hardware for commercial and residential real estate;
- Charging management software offering access control, diagnostics, and energy load management;[7]
- Turnkey installation services including permitting and electrical design;[8]
- A mobile app for charger discovery, authentication, and payment.[7]
TechCrunch reported that Xeal’s technology is designed for deployment in apartment buildings, workplaces, and commercial properties where network connectivity is often limited.[2]
Recognition and coverage
In 2025, Fast Company named Xeal one of its “Most Innovative Companies” in the transportation sector, citing the company’s offline‑capable EV charging technology and its ability to operate in locations where cellular‑dependent chargers are unreliable.[9]
The same year, Xeal ranked fourteenth on Deloitte’s Technology Fast 500 list of the fastest‑growing technology companies in North America, based on revenue growth of 8,459 percent from 2021 to 2024. Xeal was the highest‑ranked company in the New York Tri‑State region.[10]
Independent reporting on the Deloitte list also described Xeal’s market focus on multifamily housing, workplaces, and hospitality properties, and highlighted that its chargers can operate without Wi‑Fi or cellular signal.[11]
Funding
Xeal has raised more than US$50 million across venture capital rounds, with an additional credit facility bringing total financing above US$54 million.[12]
References
- ↑ 1.0 1.1 1.2 1.3 "Has This Little-Known Company Solved EV Charging's Biggest Problem?". MotorTrend. 1 March 2024.
- ↑ 2.0 2.1 2.2 "Xeal raises $11M Series A for offline connectivity protocol for EV charging". TechCrunch. 28 October 2021.
- ↑ "XEAL Raises $40M Series B". The EV Report. 7 November 2022.
- ↑ "Alastair Westgarth Joins Xeal as COO". WebWire. 25 September 2024.
- ↑ "Xeal welcomes our new CEO". LinkedIn. Retrieved 18 Jan 2026.
- ↑ "Meet Daniel Feldman, Chief Technology Officer at Xeal!". LinkedIn. Retrieved 17 Jan 2026.
- ↑ 7.0 7.1 "Xeal Company Profile". PitchBook. Retrieved 17 January 2026.
- ↑ "Xeal – Company Profile". Tracxn. Retrieved 17 January 2026.
- ↑ "The most innovative companies in Transportation for 2025". Fast Company. 18 March 2025.
- ↑ "2025 Technology Fast 500 Rankings" (PDF). Deloitte. 2025.
- ↑ "Deloitte's 2025 Technology Fast 500 List Featured 50 NYC Companies". Built In NYC. 19 November 2025.
- ↑ "Xeal – Company Profile". CB Insights. Retrieved 17 January 2026.
External links
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