Daimler leads ChargePoint’s new $82M round for EV charging network growth

Campbell, Calif.-based ChargePoint secured a new $82 million funding round, led by automaker Daimler. The new funding will help ChargePoint expand its network of electric vehicle charging stations in Europe, as the company pursues its goal of making charging stations for EVs as readily available and convenient as gas stations.

The funding round also includes existing investors BMW i Ventures, Lines Capital, Rho Capital and Braemar Energy Ventures. But having Daimler join brings a new board member from the automaker, Axel Harries, who previously served on Daimler’s commercial vehicles business, and who now works on its connected, electric mobility services strategy. That makes this investor, and this new senior board resource, very strategic as far as partnerships go.

ChargePoint has already had good success at home in North America, with more than 33,000 charging ports across its various stations and installations. It’s a big provider of corporate charging spots, too — the kind you see in parking lots for large tech companies in the Valley, for instance — with 6,500 corporate customers in total.

Daimler is already partnering with Ford, BMW and Volkswagen Group to build out a fast-charge network for EVs in Europe, and the company is also building out its EQ brand, which is entirely focused on electric mobility.