Wallbox, a Barcelona, Spain-based smart EV charging company, closed a $13m USD (€12m) second tranche of Series A funding in early March, bringing the total Series A round to $25m USD (€23m).
The round was led by Seaya Ventures, with participation from Endeavor Catalyst and existing investors such as Iberdrola (IBDSF), a Spanish multinational electric utility company.
The company intends to use the funds to drive international growth in China and North America, and to continue to expand its technology innovation and R&D efforts.
Founded in 2015 by Enric Asunción and Eduard Castañeda, Wallbox designs, develops and manufactures intelligent charging solutions for electric vehicles and plug-in hybrids for both domestic and business use. Its customers include major automobile manufacturers and large electric utilities. The areas of research, technical development, product testing and manufacturing are carried out at the Barcelona plant, where Wallbox has a large engineering team and a production capacity of 500,000 chargers per year. The development of the charging management platform, myWallbox and the after-sales and installation customer service area are based in Madrid.
The company currently has subsidiaries in Germany, United Kingdom, The Netherlands, France, United States (California) and China. Its joint venture in China, Wallbox FAWSN Charging Systems Co Ltd. has a production plant, exclusively for the sale of Wallbox products in the Chinese market.