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

  • US budget proposals seek recognise ITS benefits
    April 30, 2015
    President Obama’s latest budget brings some good news for the transportation and ITS sectors. President Obama’s proposed 2016 budget could see more progress on many of America’s ingrained transportation problems than has been achieved in some time and includes a six-year $478 billion surface transportation reauthorisation. That is, of course, provided it clears all of the administrative hurdles to become law.
    Read More
  • Outlook good for transportation technology funding
    January 25, 2012
    Chris Cheever and Chris Thomas of Fontinalis Partners discuss the funding outlook for the ITS industry – where the money’s going to come from, and what needs to happen to facilitate change
    Read More
  • Kapsch and Autofind partner on vehicle tracking solutions
    April 28, 2014
    Kapsch TrafficCom and UHF Gen 2 RFID solutions supplier Autofind Industrial have formed a strategic partnership with the aim of jointly providing end-to-end solutions for SINIAV (Sistema de Identificação Automática de Veículos), Brazil’s national electronic vehicle registration program.
    Read More
  • Renault-Nissan-Mitsubishi to explore China car-sharing partnership
    February 9, 2018
    Automotive alliance Renault-Nissan-Mitsubishi (RNM) has signed a memorandum of understanding with mobile transportation platform DiDi Chuxing (DiDi) to explore future cooperation on a new electric vehicle (EV) car-sharing program in the People’s Republic of China. The agreement underlines RNMs commitment to new mobility services as part its Alliance 2022 strategic midterm plan. The Alliance aims to eventually deploy 12 electric models worldwide, using EV platforms and components. In addition, it plans to
    Read More

Highlighted Content