Hoevan Closes a $2.0 Million Series A Round

Hoevan Closes a $2.0 Million Series A Round

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ASHBURN, VA / ACCESSWIRE / March 20, 2024 / Hoevan LLC, parent company of EVSTAR, Prosurety, and TechCycle Solutions, announced today a $2.0 million Series A funding round led by Chris Topolewski of Wick Capital Partners. Hoevan acquired TechCycle Solutions in 2021 and formed EVSTAR in 2022, bringing established product protection strategies and purpose-built services and protection products to the renewable energy ecosystem.

“Wick Capital believes in Hoevan’s mission, strategy, and differentiated approach to address the service, maintenance, and EV product protection challenges that slow adoption, throttling the transition from fossil fuels to renewable energies. EVSTAR’s expertise in product protection, service and maintenance, and financial risk mitigation directly address this blind spot and brand exposure. Backed by research, the current challenges plaguing charging station reliability impact mass adoption and customer satisfaction while introducing significant financial and brand exposure if not addressed. EVSTAR’s solutions combined with TechCycle’s history of product service, repair and protection, are both innovative and perfectly aligned to increase the pace of adoption to hit the extremely aggressive industry growth forecasts we all hope will come to fruition.” Said Chris Topolewski, Founder Wick Capital Partners.

Andrew Hoehner, EVSTAR’s CEO, commented “EVSTAR continues to hit our primary business objectives to address the key challenges our customers are facing in the still nascent EV charging ecosystem. The additional capital will allow EVSTAR to lean into sales and drive our partnerships with leading companies who are selling and installing EV Chargers. Our warranty services leverage advanced platform capabilities and a white glove approach, all underwritten by AIG (www.aig.com), allowing our partners to offload ongoing service and operations risks and expense to optimize profitability and continue their focus on growth.”

About Hoevan:

HOEVAN is a holding company focused on bringing together disparate companies with complementary capabilities. We believe strongly in accretive value creation through the application of experience and knowledge into adjacent market segments, driven by experienced high performing leadership.

Our mission is to support consumers and brands as technologies continuously evolve. Renewable energy and consumer electronic technologies often evolve with minimal post-purchase customer support, protection, or repair services in mind. We focus on streamlined and cost-effective products, creating better consumer experiences. These products enhance the brand interaction with the customer while maintaining the CFO’s rallying cry for increased profits.

About Wick Capital Partners:

Wick Capital Partners is an independent, boutique, fee-only SEC registered investment advisory firm that was created to solve the challenges confronting successful families: by applying the same strategic discipline and planning practiced by successful corporations.

Today’s successful families face the same complexities for long-range growth, tax planning, succession, and continuity of major corporations. To meet their needs, families require highly trained and experienced professionals working towards a common plan. Wick Capital Partners delivers a family-office experience, serving as your family’s CFO. We provide independent thinking and an exchange of ideas to spur innovation and deliver tailored solutions for a family’s needs.

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