Plugzio, a company focused on electric vehicle (EV) charging at multifamily properties, announced that it had closed a seed funding round led by RET Ventures. The company did not disclose the amount raised.

"This investment in Plugzio is the culmination of RET's comprehensive evaluation of the EV charging space," the press release stated. "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."

L1 charging refers to a charging system that uses 120-volt common household electrical supplies and anywhere from 12 to 16 amps, a common range of circuit in homes. It's the lowest, slowest, but also cheapest level of charging, providing 3 to 5 miles of driving range per house of charging time.