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.