Star Charge, a China-based provider of electric vehicle charging technology, has closed a $125m series A round co-led by energy management and automation equipment manufacturer Schneider Electric.
Shanghai Guohe Capital and CCB International also participated, on behalf of state-owned financial services firms Shanghai International Group and China Construction Bank respectively.
The round was co-led by CICC Capital, the private equity arm of investment bank China International Capital Corporation, and included Jiangsu Wujin High-tech Industrial Development Zone and Guochuang Zhongding.
Founded in 2014, Star Charge runs a network of charging points for electric vehicles (EVs) in addition to offering related services such as car insurance.
The company collaborates with roughly 60 China-based and foreign carmakers and has launched a joint venture, Cams, to provide charging infrastructure. Star Charge holds 30% of Cams while automotive producers Volkswagen (30%), FAW Group (30%) and JAC Motors (10%) own the rest.