Wednesday, November 28, 2018

ChargePoint Collects $240M For EV Charging Network

Campbell-based ChargePoint, which operates an electric vehicle charging network, announced this morning that it has raised a huge, $240M funding round. According to ChargePoint, the Series H funding--the largest in its history--came from American Electric Power, Canada Pension Plan Investment Board, Chevron Technology Ventures, Clearvision, Daimler Trucks & Buses, GIC, and Quantum Energy Partners. Quantum Energy Partners was the lead in the investment, which also included prior investors BMW i Ventures, Braemar Energy Ventures, Linse Capital, and Siemens. As part of the funding, Jeffrey Harris of Quantum Energy Partners joins the company's board of directors. According to ChargePoint, it will use the new funding to scale up its network for increased passenger vehicle charging, plus a growing transition to electric fleets. More information »