FILE PHOTO: An electric car is charged by a mobile charging station on a street in Prague, Czech Republic, December 4, 2018. Picture taken December 4, 2018. REUTERS/David W Cerny/File Photo
(Reuters) – ChargePoint, one of the world’s oldest and largest electric vehicle charging networks, has closed on a $127 million funding round, much of it from existing investors, the company said on Wednesday.
The latest equity financing round gives ChargePoint a total of $660 million raised since its founding in 2007, and most of that has come in the past four years. Before this raise, the company was valued at $1.25 billion by investor website PitchBook.
Based in Campbell, California, on the southern edge of Silicon Valley, ChargePoint has attracted funding from both private venture investors and large strategic investors, including German automakers Daimler AG and BMW, German electronics supplier Siemens AG, the venture arm of oil giant Chevron