Loop Global Inc is an EV charging Infrastructure Company that provides owners with a profitable solution for deploying EV charging networks. Recently, they announced the completion of a $40 million Series A-1 funding round. These funds will be used to expand its US operations, continuing to provide support to all 50 states. They also aim to expand beyond the 15+ countries the company already supports.
Fifth Wall Climate, the largest venture capital firm focused on technology, co-led the funding round with Agility Ventures, a global leader in supply chain services, infra, and innovations. Additional investors in the round were Keystone National Group, which provided an additional $20 million financing facility to support the company’s rapid growth, and B. Riley Financial, an investment banking partner.
The demand for affordable and reliable EV charging infrastructure is extremely high, as almost 230 million EVs are expected to be on the road by 2030. But, many property owners do not know where and how to implement the technology across their properties. Loop offers simple, smart, and affordable EV charging products to enable passive charging at home, work, and on the go.
Dustin Cavanaugh, the CEO of Loop, said, “At Loop, we believe in transition to clean EV will only move as quickly as the EV charging infrastructure to support it. Loop is streamlining this transition by making the next-generation EV charging infrastructure solutions for affordable property owners.”
To date, Loop has sold over 7000 charging stations worldwide. The company’s next-generation EV charging solutions are adopted nationally and internationally.