Volta Charging is a technology company sponsored making electric vehicle charging stations that is headquartered in San Francisco, California and was founded in 2010 by Scott Mercer. The companies charging stations offer free charging for electric vehicles. Volta Charging stations are free to use because of the companies partnership agreements with real estate owners (shopping malls, grocery stores, local retailers) and brands looking to advertise their products and services using Volta Charging stations.
On September 10, 2019 Volta Charging completed their series C funding round with $100 million in funding from EIP, CION, Schneider Electric Ventures, and SK E&S Co. Ltd.. The company plans on using the funding to expand its operations in previously established metropolitan areas and expand into new markets. EIP and CION contributed a $44 million credit facility in August 2019 to Volta Charging as part of the companies series C funding round, and participation from Schneider Electric Ventures, and SK E&S Co. Ltd. was announced on September 10, 2019 with a total contribution of a follow-on $20 million in series C funding. The CEO and Founder of Volta Charging, Scott Mercer, made the following public comments after completing the companies series C funding round:
We’re happy to lead this opportunistic follow-on investment alongside EIP and CION’s debt facility to accelerate the continued expansion of the business. Volta is a pioneer in advancing the electric vehicle market and we are excited to help catalyze the company’s growth. Our follow-on investment is a testament to our confidence in Volta’s business model and ability to scale their network, as well as our appreciation for their work in delivering more than 45 million free electric miles to EV drivers to date.
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