EVCS, a Los Angeles, CA-based electric vehicle (EV) fast-charging network operators in the West Coast, closed a $68.8m funding raise.
This is comprised of a $50 million debt facility from Spring Lane Capital, and a Series A equity investment of $18.8 million co-led by Abdo Partners, Spring Lane Capital and the Copulos Group, an Australian Private Global Investor.
EVCS will deploy the debt and equity raise to bolster the construction and installation of new charging locations, hire additional staff, improve digital product experiences and increase awareness of its subscription EV charging plan. The capital raised will support EVCS’ rapid expansion into 35+ new cities across California and Washington as well as increase charger density in its existing communities. The company plans to more than double its network footprint to nearly 1,500 chargers by 2023.
Led by Gustavo Occhiuzzo, CEO and Co-Founder, and Ian Vishnevsky, COO/CFO and Co-Founder, EVCS provides an electric vehicle charging network across the West Coast, which is powered by 100% renewable energy.
FinSMEs
06/07/2022