Loop Global, a Los Angeles, CA-based electric vehicle (EV) charging infrastructure company, raised $40M in Series A-1 funding.
The round was led by Fifth Wall Climate, and Agility Ventures, with participation from Keystone National Group. Loop also received $20M financing facility managed by investment banking partner B. Riley Financial.
The company intends to use the funds to expand its US operations, continuing to provide support to all 50 US states and expanding beyond the 15+ countries they already support.
Led by CEO Dustin Cavanaugh, Loop provides hardware, software and ongoing operating service-based solutions that simplify and streamline the delivery of public and private EV charging network infrastructure for commercial, multifamily residential, fleet and municipal real estate markets.
To date, Loop has sold over 7,000 charging stations worldwide through its Network Partner Program, which consists of over 100 resellers and distributors that make up a combined network of over 750 electrical contractors. The company’s next generation EV charging solutions are currently being adopted by both national and international municipalities, as well as some of the largest commercial, retail, multi-tenant, fleet and hospitality businesses in the world including AvalonBay Communities and also Fifth Wall strategic limited partners such as Hudson Pacific Properties, and Starwood Capital.
FinSMEs
03/10/2022