ChargePoint announced that it has closed $127 million in incremental equity financing. The funds will accelerate the expansion of ChargePoint’s global commercial and fleet businesses, supporting the world’s transition to electric mobility. In spite of the global pandemic, interest in transportation electrification continues to increase as growing expectations for climate change mitigation, improved transportation economics and on-demand delivery drive more investment.
The latest funding mirrors unprecedented interest in the EV market and underscores ChargePoint’s position as the provider with the most comprehensive portfolio of solutions in the industry. Continued investor commitment to ChargePoint reinforces the tremendous investment potential afforded by electrifying the movement of people and goods. 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.