Charging colossus Coulomb raises $47.5 million in new financing


The operator of the ChargePoint Network announced Monday that it had secured $47.5 million in new financing from a variety of investors.


California-based Coulomb Technologies, operator of the ChargePoint Network, announced Monday that it had secured $47.5 million in new financing from a variety of investors, including Braemar Energy Ventures, Kleiner Perkins and Toyota Tsusho.

The past two weeks have been busy ones in the rapidly-evolving EV charging industry – Coulomb recently gained a valuable partner in Fuji Electric, and a couple of formidable new competitors in ABB and NRG subsidiary eVgo.

The financing will enable Coulomb to expand its operations and further grow its network of independently owned charging stations.

The new investors plan to keep a close watch on their money – Scott DePasquale from Braemar and Michael Linse from Kleiner Perkins have joined Coulomb’s Board of Directors.

“Our new investors bring a wealth of industry acumen and expertise in driving commercial scale around innovative technologies,” said Coulomb CEO Pat Romano. “With this financing, we are well positioned to accelerate the deployment of our EV charging solutions and further solidify our position as the market leader. These funds enable us to provide cloud-based solutions to cities, retailers, employers, parking operators and property managers that will drive the adoption of clean transportation.”

“Coulomb delivers EV charging solutions that go beyond simply providing charging stations,” said Scott DePasquale, partner at Braemar Energy Ventures. “Coulomb was the first company to develop and patent networked EV charging solutions. Their approach holistically addresses the business needs in each distinct segment of the market. We look forward to supporting the company’s worldwide growth in the coming years.”

“Kleiner Perkins invests in pioneering industry leaders, companies that define their technology category, as Coulomb has with its ChargePoint solution,” said Michael Linse, partner at Kleiner Perkins Green Growth Fund. “We invested in Coulomb because of its critical role in enabling clean vehicle technology, its innovative products and software, and the scale of the ChargePoint Network. 2012 has seen the release of mass-market plug-in vehicles from the major global manufacturers and Coulomb is there to support the industry with reliable high-quality charging solutions.”


Source: Coulomb
Image: Coulomb