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.

Related Content

  • Connected-car security market expected to reach US$759 million in seven years
    September 30, 2016
    With nearly 112 million vehicles now connected around the world, the global market for automotive cybersecurity is expected to grow exponentially – to US$759 million in 2023, according to a new report, Automotive Cyber-security and Connected Car, from IHS Automotive, part of business information provider IHS Markit. Connected cars are defined as those that have a connection to the internet, through telematics, an onboard modem or a paired device in the vehicle, such as a mobile phone or other device. One
    Read More
  • The Middle East takes lead in urban mobility
    November 24, 2017
    Ralf Baron, Thomas Kuruvilla, Morsi Berguiga, Michael Zintel, Joseph Salem and Mario Kerbage from Arthur D. Little explain why there is much to be learned from the Middle East about the rapid evolution of transport systems. The rapid urbanisation across the globe is leading to mobility challenges as cities struggle to ensure their populations can move around freely using both public and private transport. Solving these issues is critical to ensuring that cities thrive and attract the investment and
    Read More
  • Economic stimulus and investment in ITS solutions
    February 2, 2012
    Scott Belcher, President and CEO of ITS America looks at the year ahead
    Read More
  • VW & BP move fast on EVs
    May 2, 2022
    Industry giants have partnered to build a fast-charging network across Europe by 2024
    Read More

Highlighted Content