Electronics Startup ChargePoint Raises $43 Million

ChargePoint announced it has closed $43 million in financing from Siemens Venture Capital.

ChargePoint operates the world’s largest electric vehicle (EV) charging network, with more than 28,000 spots to plug in and charge. The company aims to transform the transportation industry by providing the charging stations, mobile apps, analytics, and the charging networks that allow property owners and drivers to benefit from EV charging. ChargePoint also plans to transform the energy industry by providing intelligent solutions to help people and businesses shift away from fossil fuels and use electricity more efficiently. More than 350 million gas-free miles have been driven using the company’s network, and its drivers have collectively avoided more than 14.5 million gallons of gasoline and 107 million pounds of greenhouse gas emissions.

The company revealed that with participation from technology leader Siemens the new funding will help to accelerate the company’s commitment to e-mobility across Europe.