EVgo Raises $400M in Series Unknown

EVgo has successfully raised $400M in a Series Unknown at a $2.6B valuation led by LS Power, CPPIB Credit Investments, Climate Pledge Fund.

Company Overview

EVgo is a Electric Vehicles company headquartered in 11835 West Olympic Boulevard, Los Angeles, CA 90064, founded in 2010 with 300+ employees.

EV charging network

Fundraising Details

Amount Raised: $400M
Round Type: Series Unknown
Valuation: $2.6B
Date: 2024-06-13
Investors: LS Power, CPPIB Credit Investments, Climate Pledge Fund

About EVgo

EV charging network The company is positioned in the Electric Vehicles sector, serving a growing market with innovative solutions.

Key Information

Headquarters: 11835 West Olympic Boulevard, Los Angeles, CA 90064
Founded: 2010
Team Size: 300+
Industry: Electric Vehicles

What This Means

This funding round demonstrates strong investor confidence in EVgo's vision and execution. The capital will likely be used to:

Scale Operations: Expand the team and operational capacity
Product Development: Enhance existing products and develop new features
Market Expansion: Enter new markets and strengthen presence in existing ones
Technology Investment: Invest in infrastructure and technology capabilities

Industry Context

The Electric Vehicles sector continues to attract significant investment as companies innovate to meet evolving market demands. EVgo's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $2.6B valuation marks an important milestone for EVgo, positioning the company among notable players in the Electric Vehicles industry.

Looking Ahead

With this new capital, EVgo is well-positioned to execute on its growth strategy and continue building innovative solutions in the Electric Vehicles space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.

This fundraising news was reported on 2024-06-13. For more information about EVgo, visit their headquarters at 11835 West Olympic Boulevard, Los Angeles, CA 90064.

EVgo