ChargePoint, one of the world’s largest electric vehicle charging networks, secured an additional $43 million in funding from Siemens, the company announced on Thursday.
The latest funding follows an initial $82 million investment and closes the investment round at $125 million, led by Daimler, German multinational automotive corporation.
"The investment round will contribute to ongoing efforts to develop, with customers and complementary partners, a comprehensive electric vehicle charging network and enable ChargePoint’s full range of charging solutions for passenger cars, electric buses and trucks to be deployed across the region," the company said.
Siemens, an investor in ChargePoint since 2010, is also a supplier of charging technology for ChargePoint.
"The new investment in ChargePoint is in line with Siemens’ general commitment to support the expansion of e-mobility in the European Union," Siemens said.
"Siemens will support ChargePoint with its complementary technology portfolio and facilitate the integration of vehicle charging into modern power grids," said Ralf Christian, CEO of the Siemens Energy Management Division.
In addition to Daimler and Siemens, other existing investors include Linse Capital, Rho Capital Partners, BMW i Ventures and Braemar Energy Ventures.
(Anadolu Agency)
