European EV charging firm Powerdot has raised €100mn ($108mn) in equity finance as it looks to expand its operations.
Financing was led by existing investors Antin Infrastructure Partners and Arié Group.
“This investment will catalyse transformative growth, enabling us to expand our network and contribute to the evolution of sustainable mobility,” says Luís Santiago Pinto, CEO of Powerdot.
The capital infusion will also be used on R&D and partnership development.
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Powerdot has over 5,000 charging points in operation in Portugal, France and Spain, and saw a 218pc rise in kWh consumption in 2023.
The firm is planning to deploy an additional 10,000 charging points across 1,400 new locations in coming years, including a €30mn investment each in Portugal and Spain, €153mn in France, €42mn in Poland and €5mn in Belgium.
It recently reached a deal with Polish supermarket chain Biedronka to equip 600 store parking lots with fast chargers by the end of 2024.
"Antin is committed to Powerdot’s continued growth, and today marks a significant milestone in our partnership aimed at decarbonizing transport,” says Anand Jagannathan, Senior Partner at Antin Infrastructure Partners.
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