ChargePoint Raises $50M Amid Growing Interest in Electric Vehicles

ChargePoint, the Silicon Valley company that installs charging points for electric vehicles, has raised $50 million to help it expand, including potentially internationally, and to scale up its newer residential and fast-charge business, the company announced.

The Series F round was led by Linse Capital, the new investment firm founded by former Kleiner Perkins Caufield & Byers partner Michael Linse. It comes amid growing interest in electric vehicles worldwide, with global sales of EVs up 80 percent last year to more than 565,000. And Tesla has famously met with strong early demand for its Model 3 and has announced plans to be producing 500,000 vehicles per year by 2018.

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