Wallbox announced €15 million in a strategic financing round led by Iberdrola

Wallbox, a Barcelona, Spain-based manufacturer of chargers for electric vehicles, announced the completion of a 15 million euro ($17M) in a financing round led by energy supplier Iberdrola.

Iberdrola has made this investment through its Perseo start-up programme, which supports emerging companies developing critical technologies to future energy developments.

Wallbox, founded in 2015 by CEO Enric Asunción and Eduard Castañeda, designs, develops and manufactures intelligent charging solutions for electric vehicles and plug-in hybrids for both domestic and business use. The company plans to install 25,000 electric vehicle charging stations at companies such as Ikea and Avia. The company also looks to install chargers in urban and suburban areas including homes but mostly with public access by 2021.