US-based electric vehicle (EV) charging network operator ChargePoint has added $24m to a funding round led by carmaker Daimler that now totals $106m, according to a regulatory filing.
ChargePoint oversees a network of more than 34,500 charging stations and also produces its own hardware and software technology.
The investors in the second tranche of the round have not been disclosed but ChargePoint closed the $82m first tranche in March this year, when Daimler was joined by BMW subsidiary BMW i Ventures, Linse Capital, Rho Capital Partners and Braemar Energy Ventures.
The funding will support ChargePoint’s expansion into Europe, the company having signed a partnership agreement with UK-based EV charging service InstaVolt earlier this month, which will involve InstaVolt buying 200 of its rapid charge systems.
ChargePoint has now raised approximately $280m since it was founded in 2007. Its past investors include Siemens Venture Capital, Constellation Technology Ventures and Toyota Tsusho Corporation, respective subsidiaries of industrial product maker Siemens, energy company Exelon and carmaker Toyota.
– Image courtesy of ChargePoint