Chargepoint Revs Up With $240 Million

CAMPBELL –  ChargePoint, operator of the world’s leading electric vehicle (EV) charging network, has secured $240 million in Series H funding, the largest in its history. 

New investors 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.

The company operates over 57,000 charging stations for electric vehicles worldwide.

“The broader energy and mobility ecosystem has recognized that we are at a tipping point in the generational shift to transportation electrification. 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,” said Pasquale Romano, President and CEO, ChargePoint.

 ChargePoint will use the latest funding in part to 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 enable the most comprehensive smart EV charging network around the world. The company’s latest fundraise comes just over a year from the Series G funding round that fueled ChargePoint’s introduction in Europe. In just 18 months, ChargePoint has established a team to support pan-European expansion. In addition, ChargePoint now offers a comprehensive suite of charging solutions that are being deployed across the region.