Lyte
lyte.cityLinkedIn

Providing mobile charging stations globally

Founders
DJ WeiJason Wilde
645 Deal Team
Aaron Holiday
Industry
Consumer
Entry Stage
Seed
Status
Active
Investment Date
2019
Company Overview

Lyte enables on-the-go personal portable device charging through a network of distributed kiosks that contain mobile powerbank chargers for hourly and daily rental.

Investment Rationale

When 645 was first introduced to the Lyte team there was a major shift occurring in the rise of mobile. Battery life for mobile devices was not scaling the same pace of innovation as mobile application, device sizes, and data plans. Battery life innovation driven by modern day physics and dependent on major technological breakthroughs that don't occur as frequently as software development and adoption. Software performance was being driven by Moore's Law and continued exponential increases in performance that led to power shortage problem, where devices reach "low power" after ~4 hours of usage.An innovative solution to this problem is to combine the behavioral change seen in the shared economy (Airbnb, Lime, Uber, etc.) and a network of physical charges that people can pick up when they need them. There could be an iteration where kiosks are not required if there are partnerships with venues and a mobile network (i.e. Uber or Lyft drivers).This thesis, coupled with the strength of the Lyte team and early adoption of this technology in China was enough to excite our team about the prospect of working on a solution with DJ and Jason.