Wallbox, a smart EV charging company, announced the closing of a $13 million (€12 million) second tranche of Series A investment in early March, bringing the total Series A round to $25 million (€23 million).
The round was led by Seaya Ventures, a Spanish venture fund focused on technology companies, with additional investment from Endeavor Catalyst and existing investors Iberdrola, a Spanish multinational electric utility company.
The latest funding will accelerate international expansion and R&D efforts, according to the company.
Wallbox designs, develops, and manufactures intelligent charging solutions for electric vehicles and plug-in hybrids. Its customers include major automobile manufacturers and large electric utilities.
“Over the last year, we have made significant strides both in growing our distribution and the development of advanced charging technologies,” said Enric Asunción, CEO of Wallbox.
“The continued support of our investors and the addition of new shareholders into the Wallbox family will enable us to further our global growth. We are excited to start this new chapter in our mission to reduce the world’s dependency on fossil fuels.”
Image Credit: Wallbox