Chargebar today announced that it has successfully completed its first round of seed capital to support its expansion and growth strategy.
The company aims to establish the single largest mobile phone charging media network in Australia and New Zealand, and via its exclusive distribution agreement with US manufacturer, Hercules Networks, believes the strong interest and success of the first round capital raising vindicates the concept and strategic direction the business is taking.
“It’s hard to find a person who doesn’t say ‘what a great idea’ when you tell them about the concept, however the challenge has always been how to monetise it” said Jonathon Tanner, Managing Director. “If you combine the fact that a chargebar is good for the venue where it is located, by increasing foot traffic and dwell time, with the fact that users spend an average 10 minutes dwell time with the media, you create a fantastic opportunity for venues to increase revenue and brands to engage and influence a captive audience”.
Starting initially with bar and pubs, Chargebar will be rolling out its first units in late February.