The electric vehicle charging network, ChargePoint, has announced that it has closed $127 million in fresh equity financing. The funds will be used to accelerate the expansion of its global commercial and fleet businesses in North America and Europe.
The California-based company has now raised a total of $660 million to date.
Pasquale Romano, President and CEO, ChargePoint, says: “The shift to electric drive is intensifying for mainstream businesses and fleet operators, a transition poised to be one of the most significant transformations in modern history. The additional $127 million in funding provides capital to expand our investment as the market grows, underscoring investor confidence in the unprecedented potential of electric mobility as well as ChargePoint’s leadership across continents.”
He adds: “With more than a decade of category leadership, ChargePoint is well positioned to continue the buildout of 21st century mobility infrastructure that will pave the way to the mass adoption of EVs.”
ChargePoint was founded in 2007. Its network has grown to more than 114,000 places to charge.