ChargePoint, a Campbell, CA-based large electric vehicle (EV) charging network, secured an additional $43m in funding.
This latest funding, which included Siemens, follows an initial $82m investment and closes the total Series G round, led by Daimler, at $125m. Ralf Christian, CEO of the Siemens Energy Management Division, joined the company’s Board of Directors.
In addition to Daimler and Siemens, other existing investors Linse Capital, Rho Capital Partners, BMW i Ventures and Braemar Energy Ventures also participated in Series G fundraising.
The company intends to use the funds to develop, with customers and complementary partners, a comprehensive EV charging network and a full range of charging solutions for passenger cars, electric buses and trucks to be deployed across the region.
Led by Pasquale Romano, President and CEO, ChargePoint is an electric vehicle (EV) charging network with solutions in every category for home, work, around town and on the road with more than 37,800 independently-owned charging spots and more than 7,000 customers (businesses, cities, agencies, and service providers). The ChargePoint network enables drivers to find stations and monitor energy usage and gives station owners remote monitoring of stations, detailed station analytics and reports on information such as usage and greenhouse gas emissions avoided.