RET Ventures partners with Plugzio to accelerate adoption of EV charging across the multifamily sector

Plugzio, the premier end-to-end technology for scaling electric vehicle (EV) charging at multifamily properties, announced the close of its seed round led by RET Ventures (RET) , an industry-backed venture fund focused on single family rental and multifamily real estate technologies.

The investment in Plugzio is the culmination of RET’s comprehensive evaluation of the EV charging space. In December 2021, RET launched a working group including over a dozen multifamily experts to explore EV charging technologies for multifamily properties. The group determined a focus on Level 1 (L1) charging with Level 2 (L2) support was the most suitable pathway to wide EV adoption for the multifamily industry, based on convenience, reliability, and affordability for both landlords and residents.

“Compared to L2 products that typically burden users with limited charger availability, peak charging rates, and idle fees for prolonged use, L1 and 1B (240V/20A) charging is the most suit