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

  • Masabi raises $20m to expand ticketing platform
    May 8, 2019
    Masabi has secured £20 million in a funding round to accelerate the expansion of its mobility platform Justride. Masabi says Justride removes the need for passengers to buy a ticket by allowing them to tap a contactless bank card, mobile phone or smart card to travel. The round of investment, led by venture capital firms Smedvig Capital with MMC Ventures, is expected to allow the company to bring its ticketing and payments technology to more cities and transit operators around the world. Addition
    Read More
  • Siemens wins metro deal in India
    August 14, 2013
    German technology company Siemens has secured a US$93.04 million contract from IL&FS Rail for the construction of an extension of seven kilometres to the automated Gurgaon Metro in India. Under the deal, Siemens will supply seven new metro trains as well as installing train control and signalling systems. The project involves extension of the Gurgaon Metro line with a new seven kilometre long southern line. The new line will add six stations in the south-east of Gurgaon. “The Gurgaon metro project is a fi
    Read More
  • Singapore plans changes to transit system
    June 13, 2018
    Singapore has the third-highest population density in the world and the numbers are continuing to grow. The government knows that transit is vital: David Crawford investigates the city state’s Smart Nation strategy. Transport is the most important of the five domains identified as the pillars of Singapore's far-reaching Smart Nation strategy, launched in November 2014 by prime minister Lee Hsien Loong with the aim of reaching fulfilment by 2024. Roads account for 12% of the island republic's 719km2 land ar
    Read More
  • Ertico kicks off Compass4D project
    January 22, 2013
    Compass3D, the latest EU project, aims to prove the social and environmental benefits of cooperative systems by deploying services for road users, including drivers of buses, emergency vehicles, trucks, taxis, electric vehicles and private cars, to increase road safety and energy efficiency, while reducing the level of congestion in road transport. With a total budget of more than US$13 million, this new pilot project will involve 574 users and 334 vehicles in the deployment of co-operative ITS (C-ITS) in s
    Read More

Highlighted Content