Spanish electric vehicle charging company Wallbox Chargers has secured $15 million in new funding through the issuance of ordinary shares, with over $9 million of the investment coming from the Spanish government via a dedicated technology transformation initiative.
The capital injection was completed through two private placements. The majority—approximately $9 million—was provided by the Spanish Society for Technological Transformation (SETT), a state-owned entity under the Ministry for Digital Transformation and Public Administration. SETT’s participation is part of the government’s ‘Next Tech’ initiative, which seeks to boost financing in key strategic industries while attracting additional private capital.
That goal appears to be met in this instance. A second tranche of more than $5 million was contributed by private investors including Iberdrola’s Inversiones Financieras Perseo, Orilla Asset Management, and Wallbox CEO and co-founder Enric Asunción. The funding round, initially announced in February, was finalized in early June.
Wallbox stated that the new capital will be used to expand global adoption of its EV charging products, accelerate digitalization, and advance smart energy management technologies. The company sees this as a vote of confidence from both public and private stakeholders in its strategic growth trajectory.
“The SETT’s support reflects its confidence in our long-term vision and underscores Spain’s strategic role in the global energy transition,” said CEO Enric Asunción. “This investment, along with the continued support from our existing shareholders, strengthens our commitment to developing advanced EV charging and energy management solutions while driving long-term growth.”