Coulomb Technologies, a company making electric vehicle (EV) charging stations, announced that it has secured $14 million in Series B funding in a round led by Voyager Capital and Rho Ventures.
Coulomb said it will use the funds to expand research and development, operations capital and sales. The company also intends to expand into markets in Asia and South America.
Siemens Venture Capital GmbH and Hartford Ventures, a strategic investment division of The Hartford Financial Services Group, Inc. also participated in the round.
Coulomb installed its first ChargePoint® Networked Charging Stations in San Jose, Calif., in 2008. The most recent installations were Honolulu Hawaii.
The ChargePoint Network is open to all
drivers of plug-in vehicles and provides authentication, management,
and real-time control through multiple web-based portals (www.mychargepoint.net) for hosts,
fleet managers, drivers and utilities.
Coulomb is working to build a customer base in North America and Europe and plans to install thousands of charging stations in 2010 in preparation for the rollout of all-electric and plug-in hybrid electric vehicles.
Coulomb has installed charging stations at facilities owned by more than 120 companies including McDonalds, Dell Corporation, Reliant Energy, DTE Energy and Element Hotels.
Cities worldwide including San Francisco, Houston, Amsterdam, Chicago, Nashville and Bochum, Germany, now have Coulomb’s charging stations installed for consumer and fleet use.
Coulomb raised $3.75 million in Series A funding in January 2009.
Coulomb competitor Better Place, which is building networks for swapping EV batteries, last week announced $350 million in additional funding.
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