Coulomb Technologies, Inc, the leading electric vehicle (EV) charging solutions provider, today announced that it has secured $47.5 million of financing. Braemar Energy Ventures and Kleiner Perkins Caufield & Byers led the financing and were joined by Toyota Tsusho Corporation and existing investor Rho Ventures. Existing investors including Voyager Capital, Siemens Venture Capital GmbH, Harbor Pacific Capital Partners and Hartford Ventures also participated. The financing will enable Coulomb to expand its operations and further grow the ChargePoint® Network, the largest network of independently owned charging stations in the world, and expand the deployment of its next generation cloud-based charging solutions for electric vehicles. Additionally, Coulomb will expand its position in both existing and new markets. 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 Pat Romano, president and chief executive officer of Coulomb Technologies. “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 has seen significant market adoption of its networked hardware and cloud-based service plans. EV drivers utilize the ChargePoint Network thousands of times a day to service their EV charging needs. Coulomb works closely with automobile manufacturers including Nissan, BMW, Ford, GM, and Fisker Automotive enabling their customers to easily find, reserve and pay for EV charging services. The ChargePoint Network provides the most feature-rich solution for station owners and EV drivers alike, with innovations in software services from mobile applications to vehicle telematics. Coulomb’s charging solutions provide station owners the tools they need to help better manage their charging services, including the ability to track station utilization and energy costs, set pricing, process payments and provide driver support.
“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. ChargePoint continues to enhance the driver’s experience by providing necessary infrastructure, driver services and innovative features that make the transition from petroleum to clean energy seamless.”