EV charging Solutions Provider Powerdot Secures $108 Million Funding

Powerdot, a provider of EV charging solutions, announced the successful closing of a €100 million (~$108 million) follow-on capital raise led by Antin Infrastructure Partners and Arié Group.

The investment enables Powerdot to expand its charging infrastructure further, specifically through the installation of an additional 10,000 EV charging points, as well as continue to establish strategic partnerships.

According to Powerdot, its growth in 2023 was marked by a 201% increase in operational charging points and a 218% rise in kWh consumption.

“This capital raise underscores the success and potential of Powerdot in the EV charging space. With over 5,000 charging points in operation and an additional 10,000 in deployment, this investment will catalyze transformative growth, enabling us to expand our network and contribute to the evolution of sustainable mobility.” Said Luís Santiago Pinto, CEO of Powerdot

The company stated that it has over 5,000 active charging points across 1,300 locations, with plans to deploy nearly 10,000 charging points across 1,400 locations. This capital infusion will fuel the expansion of Powerdot’s charging infrastructure, drive technological advancements, and strengthen partnerships to enhance the EV user experience.

“With this capital raise through our NextGen strategy, Powerdot will further expand the availability of affordable, fast charging stations to the public and foster the transition towards a more sustainable future. Powerdot represents the infrastructure of tomorrow – a next generation of critical infrastructure that is sustainable, scalable, and connected,” said Anand Jagannathan, Antin NextGen partner.

According to Mercom’s Annual and Q4 2023 Funding and M&A Report for Storage & Smart Grid. VC funding in the Smart Grid sector decreased 55% YoY, with $1.5 billion in 47 deals in 2023 compared to $3.3 billion in 46 deals in 2022.

Recently, Daze, a provider of EV charging solutions, secured €15 million (~$16.1 million) in Series A funding led by CDP Venture Capital through the EnergyTech compartment of the Corporate Partners I fund and the Green Transition fund, which utilizes resources allocated by the European Union through the NextGeneration EU initiative.