ChargePoint, an electric vehicle (EV) charging network, today announced that it has secured $240 million in Series H funding, the largest in its history. The investors reflect a diverse set of participants, from early market to institutional investors across the energy, financial, venture capital, oil and gas, utility, manufacturing, technology and automotive sectors, according to the California based firm.
The latest fundraising effort comes during a growth period caused by what it says is a broad solution portfolio that is accelerating the mass adoption of electric mobility for drivers and businesses.
New investors in the round include American Electric Power, Canada Pension Plan Investment Board, Chevron Technology Ventures, Clearvision, Daimler Trucks & Buses, GIC, and Quantum Energy Partners (lead investor). Existing investors include BMW i Ventures, Braemar Energy Ventures, Linse Capital, and Siemens. Jeffrey Harris, a Venture Partner at Quantum Energy Partners, will join the ChargePoint board of directors.
“Leading investors from automotive, utilities, oil and gas, and financial institutions are coming together to support ChargePoint’s vision of an all-electric future as the mass adoption of electric mobility and the transition to electric fleets accelerate,” claimed Pasquale Romano, President and CEO, ChargePoint.
ChargePoint will use the latest funding in part to further expand its network, continue to build its footprint in Europe and North America, improve the experience for EV drivers, and expand solutions for fleets as the market quickly approaches the mass adoption of electrified transportation.
To date, ChargePoint has raised more than half a billion in funding to build a smart EV charging network around the world. The company’s latest fundraising comes about a year from the Series G funding round that led to ChargePoint’s introduction in Europe. In 18 months, ChargePoint has established a team to support pan-European expansion
ChargePoint serves more than 57,000 independently owned public and semi-public charging spots and thousands of customers (businesses, cities, agencies and service providers). ChargePoint is the only charging technology company on the market that designs, develops and manufactures hardware and software for every use case. Leading EV hardware makers and other partners rely on the ChargePoint network to make charging station details available in mobile apps, online and in navigation systems for popular EVs. ChargePoint drivers have completed more than 45 million charging sessions, saving upwards of 47 million gallons of gasoline and driving more than a billion gas-free miles on dispensed energy. For more information, visit www.chargepoint.com or contact the Global Press Office at firstname.lastname@example.org or European Press Office at email@example.com.