Stak

What they do & why the LACI Cleantech Debt Fund invested

Founded in 2020 by Diallo Powell and Santiago Rios, Stak Mobility provides an automated space-saving vertical parking carousel that comes with mobile software and EV charging. This combination offers a practical, compact solution for electric vehicle charging across urban, residential, and commercial real estate developments, as well as fleet vehicle management.

In urban environments, many new and existing developments face the challenges of providing ample parking and access to EV charging with limited surface area. Most EV charging takes place at home, but residents of condos, apartment buildings, and many urban locations often lack access to at-home charging or enough dedicated parking spaces.

Stak’s primary customers include developers looking to retrofit existing multi-unit buildings or in the construction of new developments. They also support municipalities, parking lot owners, and corporate EV fleets looking for solutions in dense areas.

The company has won several contracts and is looking for financing to provide working capital for the cost of goods and services and operating expenses to execute existing contracts. Managed by Mission Driven Finance, the LACI Cleantech Debt Fund invests in companies working on solving challenges related to climate change.