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

  • Plastic is fantastic for payment platform interoperability
    April 2, 2014
    The Sino Visitor Pass aims to promote trade between Singapore and China by making travel easier, as Jon Masters finds out. Singapore has notched up another first in transportation innovation with announcement of a dual-currency payment card in partnership with the province of Guangdong in China. From the middle of 2014, visitors to Singapore and Guangdong will be able to use a ‘Sino Visitor Pass’ to pay for use of public transportation among other things.
    Read More
  • Plastic is fantastic for payment platform interoperability
    April 2, 2014
    The Sino Visitor Pass aims to promote trade between Singapore and China by making travel easier, as Jon Masters finds out. Singapore has notched up another first in transportation innovation with announcement of a dual-currency payment card in partnership with the province of Guangdong in China. From the middle of 2014, visitors to Singapore and Guangdong will be able to use a ‘Sino Visitor Pass’ to pay for use of public transportation among other things.
    Read More
  • Bosch and Daimler developing automated parking system
    June 29, 2015
    Daimler, Bosch and car2go are cooperating on a new project that will see cars parking themselves. Automated parking uses an intelligent infrastructure in the car park and a vehicle control unit from Bosch in conjunction with the newest generation of Mercedes-Benz on-board sensors and the car-sharing expertise of car2go. This will enable automated manoeuvring in appropriately equipped parking garages in the near future. The user books a vehicle from car2go via smartphone and as soon as he is in the ca
    Read More
  • Europe expected to hold the largest share in smart transportation by 2021 say researchers
    April 7, 2017
    According to a new market research report from MarketsandMarkets, Europe is expected to hold the largest share of the smart transportation market, which is expected to grow from US$72.05 billion in 2016 to US$220.76 billion by 2021. The major drivers for an upsurge in demand for smart transportation include the rising requirement for integrated security and safety to enhance public safety and government initiatives to incorporate smart technologies into the existing transportation infrastructure. The
    Read More

Highlighted Content