SemaConnect, a Bowie, Md.-based provider of electric vehicle charging infrastructure solutions to North American commercial, residential, and fleet markets, received a substantial minority investment from Trilantic North America.
The amount of the deal was not disclosed.
The investment will accelerate the company’s expansion among its current commercial, residential, and fleet customer base, and will facilitate the growth of the team.
Founder and CEO Mahi Reddy and Chief Operating Officer Mark Pastrone continue to own a meaningful equity stake in the business and will lead the company through its next phase of growth. Funds managed by Pear Tree Partners, LP, which led previous rounds of financing, will also continue to own a significant minority stake in the company.
SemaConnect is a provider of electric vehicle charging infrastructure solutions to the North American commercial, residential and fleet market. A complete EV support partner, the company delivers a modern property experience through charging stations and an open network platform.
With over 10 thousand smart charging stations sold to date nationwide, the company is one of the largest integrated electric vehicle charging providers supplying both charging hardware and cloud-based software, which creates a connected network across each of its stations.
Electric vehicle pioneer and industry veteran Tony Posawatz, who is currently President and CEO of auto tech consulting firm Invictus iCar LLC and previously led General Motors Co.’s Volt plug-in hybrid program and served as CEO of Fisker Automotive, has joined Trilantic North America as a new Senior Advisor to enhance its investments in the space. Posawatz will work closely with the SemaConnect team to support its growth.
FinSMEs
20/10/2020