Manufacturer of EV charging stations, FreeWire Technologies, has announced the successful closing of its $15 million Series A financing which will support the commercialisation of the company’s ultrafast EV charging and mobile on-site power technologies.
FreeWire Technologies raises $15 million Series A financing to support ultra-fast charging
Mobile EV charger, courtesy of FreeWire Technologies
The financing round was led by BP Ventures, with participation from Volvo Cars Tech Fund, Stanley Ventures, Blue Bear Capital, Oski Clean Energy Partners, Strawberry Creek Ventures, Spike Ventures, TRIREC, and others. The charging and power solutions have been designed to overcome the inefficiencies of the grid infrastructure in order to meet customer’s growing demand for rapid, cost-efficient power, without the added costs of construction, hardware installation or peak surges.
At the start of 2018, BP Ventures announced an investment in conjunction with the launch of a pilot program to deploy FreeWire’s infrastructure-light EV fast chargers at BP retail sites in the UK. In October 2018, Volvo Cars Tech Fund announced an investment in the Bay Area-based startup to support the automaker’s long-term electrification strategy.