Wallbox announced securing €12 million in a new tranche of series A investment.

Wallbox, a Barcelona, Spain-based producer of smart EV charging solutions, announced the completion of a €12 million ($13M) in a second tranche of Series A funding.

This tranche includes the €2 million provided by Seaya at the end of 2019. According to the company, this amounts is bringing the total Series A round to €23 million ($25M). Earlier in 2019, Wallbox announced a €15 million funding round from Iberdrola.

The round was led by Seaya Ventures, with participation from Endeavor Catalyst and existing investors such as Iberdrola (IBDSF), a Spanish multinational electric utility company.

The funds raised will be used to drive Wallbox's international growth in China and North America, and to continue to expand its technology innovation and R&D efforts. Wallbox began its expansion into the Chinese and North American markets in 2019.

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. Its customers include major automobile manufacturers and large electricity utilities.