When Hooman Shahidi co-founded EVPassport, it was not just a charging infrastructure firm but essentially designed to eliminate economic and technological barriers plaguing the EV industry. Also, considering that the ESG framework drives the world today, EVPassport is steadfast in its commitment to providing charging infrastructure-as-a-service (IaaS) to commercial organizations to help them accomplish their EV and decarbonization ambitions.
EVPassport provides all of the hardware, software, firmware, and connectivity on a single platform and the installation, operation, and maintenance of chargers for businesses. And happily, this structure has piqued the interest of investors. While featuring on Top Leaders with Daniel Robbins, Shahidi announced that EVPassport has obtained $200 million in funding to expedite the deployment of its electric vehicle charging stations. Northleaf Capital Partners, a private equity firm that has acquired a majority share in the startup, provided the funding.
As much as the latest financing is a step in the right direction, it is also worth noting that EVPassport has placed 5,000 chargers across 35 states in the United States, Canada, and Mexico since its launch in 2020. And, owing to recent investment, all is set for the actualization of the next phase, which is to “deploy 1,000 DC chargers and 10,000 additional Level 2 chargers in the next two years, prioritizing places with significant EV adoption, such as California, Texas, Florida, Chicago, and the northeast corridor.” Shahidi told Daniel Robbins on Founder’s Story.