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ChargePoint to expand network under latest funding

ChargePoint has secured investment of $240m (£188m) as it looks to further expand its network in Europe and North America, and expand its fleet solutions.

ChargePoint has made a pledge to having 2.5m charging spots by 2025 across North America and Europe

The Series H funding marks the charging firm’s largest fundraise to date and comes as it says the market is rapidly approaching mass adoption of EVs.

Pasquale Romano, president and CEO, ChargePoint, said: “The broader energy and mobility ecosystem has recognised that we are at a tipping point in the generational shift to transportation electrification. Leading investors from automotive, utilities, oil and gas, and financial institutions are coming together to support ChargePoint’s vision of an all-electric future as the mass adoption of electric mobility and the transition to electric fleets accelerate.”

The latest fundraise comes just over a year from the Series G funding round that helped enable ChargePoint’s introduction in Europe, including through establishing a team to support pan-European expansion and enabling the development of a suite of charging solutions that are being deployed across the region.

ChargePoint also used September’s Global Climate Action Summit to make a commitment to the future of mobility with a pledge to have 2.5 million EV charging spots by 2025 – marking an increase of nearly fifty-fold over the next seven years.

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Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day.