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, have helped Coulomb Technologies, an electric vehicle charging company, raise $47.5m on Monday.
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.
The financing will help the company grow its network of independently owned charging stations, which is the largest in the world, the company said.
Scott DePasquale from Braemar and Michael Linse from Kleiner Perkins have joined Coulomb’s board.
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.