Germany-based electric vehicle (EV) charging technology developer Ubitricity has raised €20m ($22.7m) in a series C round backed by energy utility EDF, carmaker Honda and industrial technology group Siemens.
Siemens took part in the round through its corporate venturing subsidiary Next47, having previously invested an undisclosed sum in the company in November 2017.
Founded in 2008, Ubitricity runs a network of EV chargers that are installed in street lights and lampposts, reducing the need for dedicated charging spots and enabling users to charge their vehicles on and off the street.
The company also provides an electricity meter that allows users to choose their own personal mobile electricity tariff, which is billed to the kilowatt hour. The series C funds will support the installation of more charge points, on lampposts and housing projects across the UK, Germany, France and the US.
Frank Pawlitschek, chief executive and co-founder of Ubitricity, said: “With Honda Motors, we have another strong collaboration partner on board who shares our vision of a smart electric vehicle which brings with it the essential technology to charge and bill clean power and smart charging services.”
The company had secured $2.2m in series A funding from Earlybird Venture Capital in 2010. EDF participated in the latest round as an existing backer, though it is unclear when the corporate first invested in Ubitricity.