Retail

Venture firm invests in battery rental kiosk network

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May 21, 2021

BatteryXchange, a battery rental kiosk network that allows cell phone users to rent portable batteries, has received an unspecified investment from Defiance Ventures to allow the company to expand beyond the Charlotte market, according to a press release.

Customers download the BatteryXchange app on the iOS or Android app stores and are able to rent and use a battery from a BatteryXchange kiosk for up to four hours for free, reducing the need to leave the business and increasing overall customer satisfaction.

Businesses hosting the kiosk pay a small fee.

"With this investment it now shows they're fully on board with the opportunity we present to the market," Desmond Wiggan, co-founder of BatteryXchange, said in the press release.

"Desmond and his team are off to an excellent start and with a software-enabled platform like BatteryXchange, we see many opportunities to increase monetization of not only the data but the overall customer experience through software," said John Espey, CEO of Defiance.