ChargePoint secures additional funding led by Siemens

Electric vehicle (EV) charging network supplier ChargePoint has secured an additional US$43 million in funding, led by Siemens, closing the US company’s latest funding round at US$125 million. The company had earlier secured US$82 million in its Series G round of US$82 million, led by Daimler.
July 3, 2017 Read time: 1 min

Electric vehicle (EV) charging network supplier 4825 ChargePoint has secured an additional US$43 million in funding, led by 189 Siemens, closing the US company’s latest funding round at US$125 million. The company had earlier secured US$82 million in its Series G round of US$82 million, led by 2069 Daimler.

The investment round will contribute to ongoing efforts to develop, with customers and complementary partners, a comprehensive EV charging network and enable ChargePoint’s full range of charging solutions for passenger cars, electric buses and trucks to be deployed across the region.

ChargePoint also announced the appointment of Ralf Christian, CEO of the Siemens Energy Management Division, to the company’s Board of Directors.

The new investment in ChargePoint is in line with Siemens’ general commitment to support the expansion of e-mobility in the European Union. As the market for e-mobility is expected to grow significantly, Siemens Energy Management sees a wider range of opportunities for future cooperation through complementary offerings addressing the full scope of its customers’ charging infrastructure needs.

For more information on companies in this article

Related Content

  • Funding for EV development in Brazil
    April 16, 2012
    The Brazilian Development Bank (BNDES) has announced financing for a project by WEG electric motors to develop technology for electric vehicles (EVs). The company will receive US$4.72 million from the Bank, representing 62.3 per cent of the total investment of $7.55 million.
    Read More
  • Siemens completes installation of new LED streetlights for US town
    October 9, 2015
    Siemens has recently completed installation of more than 550 LED streetlights and floodlights in the Town of Hamilton, Massachusetts, on behalf of Metropolitan Area Planning Council, (MAPC). The full project installation is expected to result in at least US$25,000 in annual energy and maintenance savings for the town, reduce energy usage by 60 per cent compared to existing streetlights, and provide citizens with clearer lighting conditions to improve visibility and safety. The project is also expected t
    Read More
  • Potential game-changing MoU on tolling and ITS market cooperation for North America
    February 2, 2012
    Kapsch TrafficCom IVHS Corporaton and Federal Signal Corporation have entered into a Memorandum of Understanding after substantial discussions during the past few months regarding ways in which the two organisations might cooperate and jointly pursue mutual business interests in North America.
    Read More
  • IBTTA 2010 meeting focuses on sustainability
    February 2, 2012
    Ken Philmus, chief meeting organiser, talks about what attendees can expect to see at this year's IBTTA annual meeting and exhibition
    Read More

Highlighted Content