Wallbox raises 33 million to boost its expansion and double its workforce

Wallbox, the electric vehicle charging solutions company, has closed a 33 million euro financing round to boost its global expansion and double its workforce, with the incorporation of 400 workers, who will join the more than 350 current employees. For its CEO, Enric Asunción, the resources obtained will also serve to open new offices in Europe and expand its manufacturing and research and development facilities, in addition to expanding the distribution of its products, continuing to develop new technologies and entering new segments.

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The main investors in this new round are Cathay Innovation and Wind Ventures, who join existing investors such as Iberdrola and Seaya Ventures. The CEO of the Barcelona-based company points out that this round is "a sign of the confidence" that investors place in its strategy.

For his part, Cathay Innovation partner Jacky Abitbol believes that Wallbox is well positioned to be a major global energy player, while Wind Ventures director Brian Walsh values that this company has consolidated itself as one of the leaders in the European home electric vehicle charging market.

Wallbox has ambitious expansion plans for its public electric vehicle charging products. A significant portion of the funds raised will be allocated to product development for this sector, as well as to increase its manufacturing capacity, with the aim of securing a larger market share and satisfying an increasingly growing demand.

Growth in 2020

Throughout 2020, the Barcelona-based company has established itself as a leader in the electric vehicle charging sector, as explained by its CFO, Jordi Lainz. "Our success in 2020 was due to our aggressive expansion strategy, and historical electric vehicle sales in some of our markets," Lainz explains.

This growth has been complemented by the launch of Supernova, Wallbox's first public charger, whose prototype was presented last October. The company has also acquired Electromaps, an application that allows finding and managing electric charging points throughout Europe.

Since its creation in 2015, Wallbox has established itself as one of the most innovative and fastest-growing companies in the electric mobility sector. The company has a presence in more than 55 countries and has over 350 employees spread across its offices in Europe, Asia, and America, in addition to two proprietary factories.