Volta Charging, the San Francisco-based company that is attempting to combine digital out of home with charging stations to give electric vehicle owners free power, has added another $20 million in a follow-on to its Series C round.
The company’s Series C round is now closed at $100 million. Schneider Electric Ventures, SK Innovation, Energize Ventures and a number of existing partners participated in the follow-on Series C round. Volta Charging also borrowed $44 million from Energy Impact Partners and CION.
Volta raised $35 million in 2018 in a round led by the Invenergy Future Fund, the technology investment arm of renewable energy project developer Invenergy, and Activate Capital.
Volta CEO and founder Scott Mercer said “As the electric vehicle industry continues to grow, Volta is well-positioned to build out an economically viable charging network needed to facilitate the shift from gas to electric. We continue to rapidly scale our business to meet the growing demands of drivers, real estate partners and sponsors. This capital injection will accelerate our mission of mainstreaming electric vehicles.”
The funds will be used to expand the company’s network of free, advertiser sponsored charging stations. Volta is focused on adding more chargers to cities where it already has a presence, as well as moving into new markets.