Alfonsea steers Wallbox´s €33m funding round

Alfonsea has advised Spain´s start-up Wallbox Chargers on the closing of a €33 million funding round

Wallbox, a Barcelona-based leading energy management company that manufactures smart charging solutions for electric vehicles, has announced the closing of a €33 million funding round to help drive the company’s expansion into new markets and meet global demand for its electric vehicle charging solutions.

This investment is the latest backing for Wallbox’s proprietary technology and will further its mission to reduce the world’s dependence on fossil fuels. New investors Cathay Innovation and WIND Ventures led the round along with participation from existing investors Iberdrola, Seaya Ventures and others. The new funds will finance strategic growth initiatives such as the opening of new offices in Europe, the expansion of manufacturing and R&D facilities, as well as the hiring of more than 400 new employees.

“This financing is a testament to the confidence our investors place in our strategy,” said Wallbox CEO Enric Asunción. “The market has welcomed our award-winning technology and our distinctive industrial design, so this funding will allow us to expand the distribution of our products, both globally and into new categories. It will also allow us to further develop new technologies and enter new segments, which is a major achievement towards our goal of reducing the world’s dependence on fossil fuels,” Asunción added.

This is the first time Cathay Innovation and WIND Ventures have invested in an electric vehicle charging business and this investment complements both companies’ existing portfolio of smart energy solutions.

Alfonsea, a Barcelona-based law firm led by Daniel Giménez, with an office also in Madrid, and specialised in Tax, Accounting and Financial advice, counselled Wallbox on this deal with partner Juan Sagalés (pictured), who is also secretary of the Wallbox´s Board of Directors.