ChargePoint Raises $127 Million to Fund Fleet EV Charging

ChargePoint closed $127 million in incremental equity financing to fund the expansion of its global commercial and fleet businesses to support the world’s transition to electric mobility. 

ChargePoint will use the latest funding to expand its commercial and fleet portfolio in North America and Europe and continue to scale policy, marketing and sales efforts, the company said.

“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,” said Pasquale Romano, president and CEO, ChargePoint. “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.”

To date, ChargePoint’s network has grown to more than 114,000 places to charge and 80 million charging sessions, with drivers plugging in approximately every two seconds.

Originally posted on Automotive Fleet