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 infrastructure: once in a lifetime
    April 23, 2021
    Expectations are sky-high for Amtrak Joe and Mayor Pete as they use infrastructure spending to rebuild the US economy post-Covid – and ITS firms should be able to get a share...
    Read More
  • Siemens exits EV charging market
    September 4, 2013
    According to the Wall Street Journal, Siemens is to exit its electric vehicle (EV) charging points business, as demand and market development turned out weaker than expected. Despite a government plan to see one million registered electric cars on German roads by 2020, consumers haven't been keen about such vehicles. Last year for instance, only 4,157 e-cars were newly registered in Germany, bringing the total to 7,112.
    Read More
  • NZ funds low-emission vehicle take-up
    March 6, 2020
    The government of New Zealand is to fund 21 projects in cities such as Nelson and Tauranga which encourage low-emission transport.
    Read More
  • Integrating traffic management and tolling technologies
    April 25, 2013
    Jamie Surkont, head of road safety enforcement with Kapsch, outlines the company’s efforts to set up and align new traffic management business units with its more widely recognised tolling expertise The blurring of ITS applications’ edges brought about by systems’ increasing functionalities will ensure that many of the technologies which we have come to rely on for road and traffic management will find it increasingly difficult to exist or operate within tight market verticals. At the same time, systems man
    Read More

Highlighted Content