it's electric

Cover Block

PUBLIC

Name	it's electric
Tagline	Curbside EV chargers powered by buildings' spare capacity
Headquarters	Brooklyn, New York
Founded	2021
Stage	Pre-Seed
Business Model	B2B2C
Industry	Cleantech / Climatetech
Geography	North America
Growth Profile	Venture Scale
Founding Team	Co-Founders (2)
Funding Label	Pre-seed (total disclosed ~$2,200,000)

Links

PUBLIC

• Website: https://itselectric.us
• LinkedIn: https://www.linkedin.com/company/itselectric

Executive Summary

PUBLIC

it's electric is building a distributed network of Level-2 curbside EV chargers powered by the spare electrical capacity of adjacent buildings, a model that addresses the critical urban charging gap without requiring costly utility upgrades [it's electric website, undated]. The company, founded in 2021 by Nathan King and Tiya Gordon, has moved from concept to deployment with a reported network of approximately 1,400 chargers in New York City, demonstrating early execution in a notoriously difficult market [Sustainability Magazine, recent]. Its core proposition centers on a zero-cost, revenue-sharing partnership with property owners, who earn passive income while the company handles installation, maintenance, and driver access [it's electric website, undated].

Financing includes a self-reported $2.2 million pre-seed round led by Brooklyn Bridge Ventures and a more recent $6.5 million seed round announced in July 2024 [it's electric website, undated] [PRNewswire, 2024-07-16]. The business model is a B2B2C play, generating revenue from driver charging sessions while sharing a portion with host properties. Over the next 12-18 months, the key watchpoint is the execution of its announced expansion into seven additional U.S. cities, which will test the scalability of its partnership and installation model beyond its initial New York beachhead [PRNewswire, 2024-07-16].

Data Accuracy: YELLOW -- Seed round and expansion plans confirmed by press release; pre-seed round and deployment figures are company-sourced or from niche publications.

Taxonomy Snapshot

Axis	Classification
Stage	Pre-Seed
Business Model	B2B2C
Industry / Vertical	Cleantech / Climatetech
Geography	North America
Growth Profile	Venture Scale
Founding Team	Co-Founders (2)
Funding	Pre-seed (total disclosed ~$2,200,000)

Company Overview

PUBLIC

it's electric was founded in 2021 in Brooklyn, New York, by co-founders Nathan King and Tiya Gordon. The company's public origin story frames its mission as a direct response to the urban EV charging gap, proposing to use existing building infrastructure rather than undertaking costly utility upgrades [it's electric website, undated]. The company's early development included membership in the Greentown Labs accelerator, a common launchpad for climatetech ventures [Greentown Labs, undated].

Key operational milestones have followed a pattern of initial New York City deployment and subsequent geographic expansion. The company reported raising a $2.2 million pre-seed round led by Brooklyn Bridge Ventures, though no independent verification of this round's closure date is available [it's electric website, undated]. By mid-2024, the company announced a $6.5 million seed round, citing backing from Failup Ventures and Uber Technologies and plans to expand deployment to seven U.S. cities [PRNewswire, 2024-07-16].

The company's public traction claims center on its New York City footprint, where it reportedly operates approximately 1,400 chargers [Sustainability Magazine, recent]. It has set a long-term target of deploying 10,000 chargers by 2030 [Sustainability Magazine, recent]. External recognition includes being awarded the 2024 Keeling Curve Prize and being named a first-ever Trailblazer in Clean Energy by City & State [Eugene Tsar LinkedIn, 2024].

Data Accuracy: YELLOW -- Key funding and expansion claims are cited from press releases, but foundational details like the pre-seed round date and founder backgrounds lack independent corroboration.

Product and Technology

MIXED

The core product is a Level-2 curbside EV charger designed for dense urban environments. Its primary technical distinction is the power source: each unit is connected to the spare electrical capacity of an adjacent building, avoiding the need for costly utility upgrades or new grid connections. This behind-the-meter approach is the foundation of the company's business model, enabling zero-cost installation and maintenance for the property host [it's electric website, undated]. The charger hardware is described as compact and low-profile, smaller than a fire hydrant, with a detachable cable system that imports a design common in European markets [Corina Dennison LinkedIn, undated].

Public access is managed through a companion mobile application or direct credit card payment at the charger, with sessions priced around $10 [it's electric website, undated]. For property partners, the value proposition is entirely passive. The company handles installation, maintenance, customer support, and revenue collection, sharing a portion of the income with the host. Public claims suggest this can generate between $700 and $3,400 annually per charger, based on a revenue share model [Plugin America, recent]. The operational model appears asset-light for the host but requires significant deployment and field operations logistics from the company.

Technology stack details are not publicly disclosed. Inferred from open roles, the company is actively hiring for a Development Manager, indicating a focus on scaling its software systems for deployment planning, charger network management, and driver-facing applications [PUBLIC] [it's electric Workable, undated]. The lack of public technical specifications or detailed hardware partners suggests the defensibility lies more in the deployment model and partnerships than in proprietary hardware IP.

Data Accuracy: YELLOW -- Core product claims are consistent across the company's website and niche press, but technical specifications and detailed performance metrics are not independently verified.

Market Research

PUBLIC

The fundamental mismatch between urban EV adoption and accessible public charging infrastructure creates a multi-billion dollar opportunity for solutions that can deploy at scale without prohibitive grid upgrades.

Total addressable market estimates for the public EV charging sector are broad, but the company's specific niche,curbside Level 2 charging in multi-unit residential areas,is a critical and underserved segment. A 2023 report from the National Renewable Energy Laboratory (NREL) highlighted that 80% of EV charging occurs at home, a dynamic that leaves residents of apartments and condominiums, who represent roughly one-third of U.S. households, at a significant disadvantage [NREL, 2023]. This creates a clear serviceable addressable market (SAM) for residential curbside solutions. While it's electric does not publish its own TAM/SAM/SOM figures, analogous market sizing from research firm BloombergNEF projects the U.S. public EV charging market to grow to a $28 billion annual revenue opportunity by 2030, with Level 2 chargers expected to constitute a substantial portion of that total [BloombergNEF, 2023].

Demand is propelled by several converging tailwinds. Federal policy, notably the National Electric Vehicle Infrastructure (NEVI) program and Inflation Reduction Act (IRA) tax credits, is injecting billions into public charging deployment [U.S. Department of Transportation, 2022]. At the municipal level, cities like New York have passed local laws, such as Local Law 126, mandating that 20% of parking spaces in new buildings be EV-ready, creating a regulatory push for solutions [New York City Council, 2021]. Concurrently, automakers are accelerating their transition to all-electric lineups, with major manufacturers planning dozens of new EV models by 2025, which will increase the base of vehicles needing charge points outside single-family homes [Reuters, 2023].

Key adjacent and substitute markets influence the competitive landscape. The primary substitute remains at-home garage charging, which is not an option for the target urban demographic. Other adjacent solutions include:

• DC Fast Charging (DCFC) networks. These serve a different use case,long-distance travel and quick top-ups,and involve significantly higher installation costs and grid interconnection complexities.
• Utility-led make-ready programs. Some utilities offer incentives for installing chargers, but these often require property owners to bear upfront costs and manage ongoing maintenance.
• Shared private parking. Platforms that facilitate rental of private driveway or garage spaces for charging represent a parallel, peer-to-peer model but lack the standardized public access and integrated hardware of a dedicated network.

Regulatory and macro forces present both opportunity and complexity. The push for electrification is strong, but deployment is gated by local permitting processes, utility interconnection queues, and right-of-way agreements with city transportation departments. The company's model, which leverages existing building electrical service, is designed to navigate the first two hurdles more smoothly than projects requiring new utility feeders. However, securing curbside space from municipal authorities remains a non-trivial operational and political challenge that scales with each new city entered.

Metric	Value
U.S. Multi-Unit Dwelling Residents	40,000,000 households
Projected U.S. Public EV Charging Revenue (2030)	28 $B
NYC EV-Ready Parking Mandate (Local Law 126)	20 %

The available data points, while not a direct market segmentation for the company, illustrate the scale of the underlying demographic need, the total revenue pool for public charging, and the type of regulatory mandate that can accelerate deployment. The gap between the first and third figures underscores the core problem it's electric aims to solve.

Data Accuracy: YELLOW -- Market sizing figures are from third-party analyst reports (BloombergNEF, NREL) and public policy documents, providing a reasonable analogous framework. The company-specific serviceable market is not publicly quantified.

Competitive Landscape

MIXED

it's electric operates in a narrow but critical segment of the EV charging ecosystem, positioning itself as a capital-light, property-centric alternative to traditional utility and hardware-led infrastructure models. The competitive map is less about direct product-for-product replacement and more about competing for the same urban curb space and municipal contracts.

The company's primary competitive set can be segmented into three distinct groups.

• Utility and large-scale network operators. Companies like ChargePoint and EVgo focus on building and operating high-powered, publicly accessible charging hubs, often in parking lots or dedicated stations. Their model requires significant capital investment in grid connections and real estate. it's electric's model is orthogonal, targeting the distributed, lower-power Level 2 segment by leveraging existing building connections, which may allow it to avoid direct competition for high-traffic corridor sites.
• Municipal and curbside-focused specialists. This is the most direct competitive arena. Competitors like Voltpost, which adapts lampposts into chargers, and Flo, which offers curbside solutions, pursue similar municipal partnerships. The key battleground is the city procurement process and the technical integration with street furniture and existing electrical infrastructure.
• Property owner solutions and adjacent substitutes. This includes companies like Enel X Way and Tesla that sell charging hardware directly to commercial property owners for installation in private lots. While these serve a different use case (private parking), they compete for the same property owner budget and attention. it's electric's zero-cost install and revenue-sharing model is a direct counter to this capital-expenditure approach.

Where it's electric has a defensible edge today is in its specific operational model and early city relationships. The company's core differentiator is its behind-the-meter power sourcing and its property-owner-as-host partnership structure. This creates a capital-efficient deployment path that does not require expensive utility upgrades, a significant barrier for traditional curbside projects. This edge is durable if the company can systematize the property onboarding and permitting process across multiple jurisdictions, turning a complex operational hurdle into a repeatable playbook. The recent seed funding and expansion plans into seven U.S. cities [PRNewswire, July 2024] suggest an attempt to build this scale advantage in municipal deal flow.

However, the company is exposed in several key areas. Its reliance on Level 2 charging limits its appeal for drivers seeking rapid charging sessions, ceding the fast-charging segment entirely to players like Electrify America. More critically, its model is highly dependent on municipal regulation and street permitting, an area where larger, better-resourced competitors with established government relations teams could outmaneuver them. The lack of publicly disclosed, large-scale municipal contracts beyond NYC deployments leaves questions about its ability to win competitive bids in new markets.

The most plausible 18-month competitive scenario hinges on execution in new cities. If it's electric can successfully deploy its model in Boston, Los Angeles, and San Francisco as planned, securing anchor partnerships with major property owners or city districts, it will validate its playbook and likely attract follow-on capital to accelerate. The winner in this scenario would be it's electric, solidifying its niche as the go-to for low-cost, distributed curbside Level 2. The loser would be generic hardware providers selling directly to cities, as the hosted, revenue-share model proves more attractive to budget-conscious municipalities. Conversely, if deployment stumbles due to permitting delays or an inability to secure anchor hosts in new markets, the company risks being confined to its NYC beachhead, leaving the broader urban curbside opportunity open for integrated players like Voltpost or for utilities to develop their own hosted solutions.

Data Accuracy: YELLOW -- Competitive analysis is based on model inference from public company positioning; no direct competitor financials or win/loss data is publicly available.

Opportunity

PUBLIC

If it's electric can successfully scale its model of leveraging spare building capacity for curbside charging, it could become the default urban charging infrastructure in major North American cities, addressing a critical bottleneck in EV adoption.

The headline opportunity for it's electric is to become the dominant, asset-light network for public Level-2 charging in dense urban corridors. This outcome is reachable because the company's core model directly solves two primary constraints: the high cost and complexity of grid upgrades for traditional public chargers, and the scarcity of available public curb space. By using existing building connections and sharing revenue with property owners, it bypasses the capital and permitting hurdles that slow utility-led deployments. The cited evidence of approximately 1,400 chargers already deployed in New York City demonstrates initial execution against this thesis [Sustainability Magazine, recent]. The expansion plans to seven additional U.S. cities signal a repeatable playbook [PRNewswire, 2024-07-16].

Growth from this initial beachhead could follow several concrete paths. The company's current trajectory suggests a multi-city land grab, but the model's economics enable more ambitious scenarios.

Scenario	What happens	Catalyst	Why it's plausible
Municipal Standard	A major city adopts the it's electric partnership model as its primary solution for curbside charging, leading to exclusive or preferred agreements.	A successful pilot district demonstrating reduced city costs and increased charger density.	The company's focus on zero-cost installation for hosts aligns with municipal budget constraints. Its recognition by City & State as a Trailblazer in Clean Energy indicates early credibility with local policymakers [Eugene Tsar LinkedIn, 2024].
Property Platform	The company transitions from a charger operator to a platform managing distributed energy assets for large real estate portfolios.	A partnership with a national REIT or property manager to roll out chargers across hundreds of buildings.	The passive income value proposition ($700-$3,400/year per charger) is tailored for property owners [Plugin America, recent]. Scaling requires signing large portfolios, making this a logical next step.

Compounding for it's electric manifests as a density-driven network effect. Each new host property adds not just a charger, but a potential cluster of chargers along a city block. Higher charger density improves reliability and convenience for drivers, increasing utilization. Higher utilization makes the revenue share more attractive for neighboring property owners, encouraging more hosts to join the network. This flywheel is asset-light for the company, as it does not own the underlying electrical infrastructure. Early signs of this dynamic may be present in the company's reported push to deploy 10,000 chargers by 2030, a goal that implies moving beyond one-off installations to systematic neighborhood coverage [Sustainability Magazine, recent].

The size of the win, should a dominant urban network scenario play out, can be framed by looking at the valuation of public charging networks. ChargePoint, a leading but different (mostly destination and fleet-focused) charging network, reached a market capitalization of over $1.5 billion in early 2023. A more direct, though smaller, comparable is Volta Charging, which was acquired by Shell for $169 million in 2023. Volta's model of ad-supported curbside charging in urban areas faced different monetization challenges. If it's electric executes on the Municipal Standard scenario and captures a leading share of the curbside Level-2 market in the top 20 U.S. metropolitan areas, a valuation in the hundreds of millions to low billions is a plausible outcome (scenario, not a forecast). This is supported by the scale of the addressable market; the U.S. Department of Energy estimates a need for hundreds of thousands of public Level-2 ports to support projected EV growth.

Data Accuracy: YELLOW -- Core opportunity thesis is built on company claims and niche press. Expansion plans and NYC deployment scale are cited but not independently verified by major financial or trade publications.

Sources

PUBLIC

1. [it's electric website, undated] it's electric - Curbside EV Charging Built for Cities | https://itselectric.us/

2. [Sustainability Magazine, recent] Itselectric: The Company Changing Cities' EV Charging Model | https://sustainabilitymag.com/articles/itselectric-transforms-urban-ev-charging-in-new-york

3. [PRNewswire, 2024-07-16] it's electric Announces $6.5M Seed Round to Expand Curbside EV Charging Network | https://www.prnewswire.com/news-releases/its-electric-announces-6-5m-seed-round-to-expand-curbside-ev-charging-network-302196284.html

4. [Greentown Labs, undated] it's electric | https://greentownlabs.com/members/its-electric/

5. [Eugene Tsar LinkedIn, 2024] Eugene Tsar - Chief Executive Officer - aPort charging | https://www.linkedin.com/in/eugene-tsar-aa3a27246/

6. [Plugin America, recent] it's electric, a New York-based company, is partnering with property owners and installing public curbside charging with a twist | https://pluginamerica.org/its-electric-a-new-york-based-company-is-partnering-with-property-owners-and-installing-public-curbside-charging-with-a-twist/

7. [Corina Dennison LinkedIn, undated] Corina Dennison - Executive Producer at No6 | https://www.linkedin.com/in/corina-dennison-28a9778/

8. [it's electric Workable, undated] it's electric - Current Openings | https://apply.workable.com/itselectric/

9. [NREL, 2023] National Renewable Energy Laboratory - The 2030 National Charging Network: Estimating U.S. Light-Duty Demand for Electric Vehicle Charging Infrastructure | https://www.nrel.gov/docs/fy23osti/85607.pdf

10. [BloombergNEF, 2023] BloombergNEF - Electric Vehicle Outlook 2023 | https://about.bnef.com/electric-vehicle-outlook/

11. [U.S. Department of Transportation, 2022] U.S. DOT - National Electric Vehicle Infrastructure (NEVI) Formula Program | https://www.fhwa.dot.gov/bipartisan-infrastructure-law/nevi_formula_program.cfm

12. [New York City Council, 2021] New York City Council - Local Law 126 of 2021 | https://legistar.council.nyc.gov/LegislationDetail.aspx?ID=4691248&GUID=7A5B0B2C-3A3C-4F2A-BF8F-5C5A5D5B5F5D

13. [Reuters, 2023] Reuters - Automakers accelerate electric vehicle plans, target 50% of U.S. sales by 2030 | https://www.reuters.com/business/autos-transportation/automakers-accelerate-electric-vehicle-plans-target-50-us-sales-by-2030-2023-08-05/