Total amount raised
$72.6 Million
Latest funding date
5/1/2016
Location
ChargePoint has successfully raised funding over 20 rounds, with the latest round involving the California Energy Commission and the California Department of Transportation. The company is publicly traded under the ticker NYSE:CHPT.
Keep reading to explore the intricacies of ChargePoint's fundraising journey and the investors backing this innovative platform.
What Is ChargePoint?
ChargePoint, founded in 2007, is a leading provider of electric vehicle (EV) charging solutions. The company is headquartered in Campbell, California, and operates within the automotive, charging infrastructure, electric vehicle, and manufacturing industries.
With an employee count ranging from 1001 to 5000, ChargePoint offers a comprehensive platform that includes hardware, software, and services. The company aims to make EV charging easy and accessible for businesses, fleets, and individual drivers.
How Much Funding Has ChargePoint Raised?
- Grant
- Amount Raised: USD 480,000
- Date: June 2023
- Lead Investors: Illinois Environmental Protection Agency
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance EV charging infrastructure in Illinois.
- Grant
- Amount Raised: USD 944,383
- Date: August 2023
- Lead Investors: PennDOT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand EV charging infrastructure in Pennsylvania.
- Post-IPO Debt
- Amount Raised: USD 150,000,000
- Date: July 2023
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and infrastructure expansion.
- Grant
- Amount Raised: USD 19,000,000
- Date: September 2024
- Lead Investors: California Department Of Transportation, California Energy Commission
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To install 248 DC fast charging ports along California highways.
- Post-IPO Debt
- Amount Raised: USD 300,000,000
- Date: April 2022
- Lead Investors: Antara Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial stability and support long-term growth.
- Post-IPO Equity
- Amount Raised: USD 225,000,000
- Date: March 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and technological capabilities.
- Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: October 2020
- Lead Investors: Hayman Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support post-IPO growth and development.
- Series H
- Amount Raised: USD 127,000,000
- Date: August 2020
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series H
- Amount Raised: USD 240,000,000
- Date: November 2018
- Lead Investors: Quantum Energy Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand EV charging infrastructure and market reach.
- Debt Financing
- Amount Raised: USD 45,000,000
- Date: January 2018
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and infrastructure development.
Total Amount Raised: USD 1,126,424,383. Current Valuation: Not publicly disclosed.
Key Investors
- California Energy Commission
- Details: The California Energy Commission is the state's primary energy policy and planning agency. It has been a recent investor in ChargePoint, participating in grant funding rounds.
- Investment Focus Areas: Renewable energy, energy efficiency, transportation.
- Notable Investments: ChargePoint, various renewable energy projects in California.
- California Department Of Transportation
- Details: The California Department of Transportation, also known as Caltrans, is responsible for the state's highway, bridge, and rail transportation planning, construction, and maintenance. It has recently invested in ChargePoint through grant funding rounds.
- Investment Focus Areas: Transportation infrastructure, public transit, highway maintenance.
- Notable Investments: ChargePoint, various state highway projects.
- Antara Capital
- Details: Antara Capital is an investment firm that focuses on event-driven strategies across various asset classes. It has invested in ChargePoint through post-IPO debt funding.
- Investment Focus Areas: Event-driven strategies, distressed assets, special situations.
- Notable Investments: ChargePoint, various distressed asset opportunities.
- Hayman Capital
- Details: Hayman Capital is a hedge fund known for its macroeconomic investment strategies. It has invested in ChargePoint through post-IPO equity funding.
- Investment Focus Areas: Macroeconomic strategies, global markets, special situations.
- Notable Investments: ChargePoint, various macroeconomic opportunities.
- Quantum Energy Partners
- Details: Quantum Energy Partners is a private equity firm that invests in the energy sector. It has been a lead investor in ChargePoint's Series H funding round.
- Investment Focus Areas: Energy, oil and gas, renewable energy.
- Notable Investments: ChargePoint, various energy sector projects.
What's Next for ChargePoint?
ChargePoint is poised to capitalize on significant opportunities, particularly through the National Electric Vehicle Infrastructure (NEVI) program. With $19 million secured for 248 DC fast charging ports in California and nearly $90 million for 700 ports across 21 states, the company is set to expand its network substantially. This growth aligns with industry trends emphasizing the need for accessible and reliable EV charging infrastructure.
Future fundraising opportunities are likely to arise from continued participation in government programs and potential strategic partnerships. However, ChargePoint may face challenges such as managing the installation and maintenance of numerous charging stations and competing in a rapidly growing market. Despite these hurdles, the company's strategic moves and robust funding position it well for future success.
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