Barcelona-based e-vehicle charging startup, Wallbox, has announced that it has close the second part of its Series A funding round by bagging an additional €12 million, bringing the total Series A funds to €23 million. Madrid-based venture capital firm, Seaya Ventures, has led the funding round with additional funding from its new investor, the US-based venture capital firm, Endeavor Catalyst, along with its existing investor Iberdrola.
The startup will use this raised funds to widen Wallbox’s services internationally to North America and China. It also wants to continue the expansion of its R&D and technology innovation.
Over the funding, Seaya Ventures’ founder Beatriz González commented, Seaya Ventures believes that the firms dedicated to speeding the passage towards e-mobility, like Wallbox, carry an essential role in reshaping the mobility space in the coming years. We commit to the firms that lead the way toward more sustainable technologies that are stronger than ever.
In 2015, Enric Asunción and Eduard Castañeda Mañé founded Wallbox as designer and manufacturer of e-vehicle chargers to enable every customer to charge their electric cars anytime at their residences. Its mission is to revise the way people use energy globally. Its revolutionizing system utilizes cutting-edge technology and manages the communication between charger and car through an easy-to-use app. Since its emergence, it has grown its team to more than 200 employees and has achieved global dominance in its sights.
Wallbox is also gaining an outstanding recognition for its smart charging solutions. At Las Vegas, Consumer Electronics Show 2020s, the startup has achieved 4 ‘Best of CES’ awards from Robb Report, Engadget, Newsweek, and Electrek. Fast Company’s 2020 World-Changing Ideas Awards for the energy category, Wallbox’s Quasar was selected as a finalist and received an honorable mention in the consumer product categories and general excellence.
On the importance of this milestone, Iberdrola’s global lead at Luis Buil said, the latest investment round shows the VC firms’ confidence in the sustainable mobility to be one of the major sectors after the coronavirus pandemic ends. So they much take advantage of the opportunity to advance a low-carbon economy. They support and are committed to Wallbox. Besides, they are also moving towards on their strategy to launch a charging infrastructure for continuing a drive zero-emission transportation.
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