Transportation

West Coast EV charging network raises $68.8M

Image provided by iStock.

July 7, 2022

EVCS, a West Coast EV fast-charging network, has raised $68.8 million in funding, comprised of a $50 million debt facility from Spring Lane Capital and a Series A equity investment of $18.8 million co-led by Abdo Partners, Spring Lane Capital and the Copulos Group, an Australian private investor, according to the EVCS website.

The capital raised will support EVCS's expansion into more than 35 cities across California and Washington as well as increase charger density in its existing communities.

EVCS plans to more than double its network footprint to nearly 1,500 chargers by 2023.