Germany-based automaker BMW’s corporate venturing unit has become the latest corporate to back Coulomb, a US-based electric vehicle charging company,.
BMW iVentures joined corporates including Toyota, Hartford, and Siemens backing the company.
Ulrich Quay, managing director of BMW i Ventures, said: “BMW i Ventures recognizes the importance of a global charging network for electricvehicle drivers. BMW is focused on providing comprehensive services that make the charging of BMW electric vehicles a premium experience. ChargePoint is the largest, longest established network with a significantly advanced and mature feature set. This investment will forge a close and strategic relationship as we further our electric mobility offer.”
In September the corporate venturing units of Germany-based industrial conglomerate Siemens and of US-based insurance company Hartford Financial Services Group as well as a member of Japan-based automaker Toyota Group, helped Coulomb Technologies, raise $47.5m.
Siemens Venture Capital, Hartford Ventures and Toyota Tsusho Corporation were joined in the series D round by venture firms Braemar Energy Ventures, Kleiner Perkins Caufield & Byers, Rho Ventures, Voyager Capital and Harbor Pacific Capital Partners.
Coulomb provides electric charging stations in 14 countries providing more than 462MW hours of energy each month, and 2600 charging sessions per day.
In 2010 Coulomb raised $15m in its series C round from a new strategic investor seven months after closing its second round of funding. The company also raised $14m in February of that year in its series B round. Germany-based venture firm Estag Capital provided $3.75m in series A funding in January last year, was not part of the latest round.