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Electric Vehicle Charging Station Startup ChargePoint Raises $22.6 Million

The electric vehicle market is a hard road for any startup. Ignoring Tesla’s booming success on the stock market over the past year, the industry lays rife with recent high-profiles failures: Better Place, ECOtality and Fisker Automotive.

That doesn’t seem to be stopping ChargePoint, currently one of the largest network providers of electric vehicle charging stations. The Campbell, CA-based startup has raised $22.6 million in late-stage venture capital. This brings its total VC funding to just under $110 million.

Existing investor Kleiner Perkins Caufield & Byers made the largest investment in this round, doubling its equity stake in the company. Other existing investors Braemar Energy Ventures, Rho Ventures and BMW joined in again.

The startup is still looking for $4.4 million in additional financing in the round.
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