Coulomb Technologies, a US-based provider of charging stations for electric vehicles, has raised $15m in its series C round from a new strategic investor seven months after closing its second round of funding.
The new investors in the C round were Harbor Pacific Capital, a US-based venture capital firm that made a first close on its first fund at $32.8m in March after receiving backing from three Asian families, and Korean industrial companies LS Industrial Systems and LS Cable that spun out from local conglomerate LG Group in the past decade.
They joined existing strategic backers Siemens Venture Capital, the corporate venturing division of Germany-based conglomerate Siemens, and Hartford Ventures, an investment division of Hartford Financial Services Group, and venture capital (VC) investors Rho Ventures and Voyager Capital. The four had provided $14m in February as Coulomb’s series B round and reinvested in the C round. However, Germany-based VC Estag Capital, which provided $3.75m in series A funding in January last year, was not part of the latest round.
In 2008, Coulomb was the first company to introduce networked charging stations for electric vehicles and since last year it has shipped more than 850 ChargePoints to more than 200 customers. Earlier this year, Coulomb signed strategic partnerships with Leviton, Siemens and Aker Wade to market and distribute their own brand of home and/or public electric vehicle supply equipment built specifically for the ChargePoint network.