Seaya Ventures backs Wallbox with a €2M investment to support the company on its international expansion

Barcelona, December 5, 2019 – Wallbox, the Barcelona-based company, engaged in creating smart charging systems for electric vehicles, today announced a €2 million investment by Seaya Ventures.

 

Enric Asunción, Co-Founder and CEO of Wallbox: “We’re excited to have Seaya Ventures on board. Their current investment in companies like Cabify or MOVO shows their dedication to urban sustainability and therefore makes them an ideal Wallbox shareholder”. He explains further: “We’ve been in contact with Seaya Ventures since May and now sealed our cooperation based on shared beliefs in clean and renewable energy and sustainable mobility.”

Beatriz González, Founder and Managing Partner of Seaya said “We are very happy to join forces with Wallbox on its journey to lead the transition to more sustainable mobility. This deal reinforces our commitment toward impact investment with clear examples in our portfolio such as Clarity, Movo, Cabify or Biome Makers”

Wallbox keeps growing
Seaya Venture joins Wallbox in a phase of rapid growth. In June Wallbox completed a €15 million funding round led by Spanish multinational electric utility Iberdrola. The capital injection enabled Wallbox to extend its global expansion, speed up its processes and invest in talent and technology. At the end of this year, Wallbox will launch the first bidirectional home charger. The charger named Quasar is the first of its kind to allow energy to flow both ways – in and out of an electric car. Quasar can be used to supply power from an electric car’s battery to the grid (V2G) or to a building (V2H).

About Wallbox
Wallbox was founded in 2015 by Enric Asunción and Eduard Castañeda. Wallbox 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. The areas of research, technical development, product testing and manufacturing are carried out at the Barcelona plant, where Wallbox has a large engineering team and a production capacity of 100,000 chargers per year. The development of the charging management platform, myWallbox and the after-sales and installation customer service area are based in Madrid. Wallbox currently has subsidiaries in Germany, United Kingdom, The Netherlands, France, United States (California) and China. Its joint venture in China, Wallbox FAWSN Charging Systems Co Ltd. has a production plant, exclusively for the sale of Wallbox products in the Chinese market.

About Seaya Ventures
Based in Madrid, Seaya Ventures has been backing the best entrepreneurs and teams from Spain and Latin America since 2013. Seaya focuses on supporting founders in scaling their businesses enabling them to become global leaders.

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