Electricity utility group Iberdrola has backed a series A round for Spain-based electric vehicle charging technology producer Wallbox that stands at €23m ($24.8m) following a second close.
Wallbox said the second tranche raised $12.9m without specifying its participants. Venture capital fund Seaya Ventures led the overall round with additional participation from Endeavor Catalyst, after an initial $17.1m close led by Iberdrola in June 2019.
Founded in 2015, Wallbox designs, produces and distributes charging points for a range of electric and hybrid-power vehicles. Its products include a universal charger called Copper marketed as supporting up to 22Kw of charging output.
The funding will go to Wallbox’s expansion in both North America and China, where it has a partnership with car parts supplier Changchun Fawsn.
Seaya Ventures supplied $2.2m in funding to Wallbox in December 2019 however it was unclear whether this related to the series A round.