Dcbel secures an additional $7.5 million in funding for its all-in-one car and house charger

Funding will be used to spearhead development of its r16 charging system

Image: dcbel

Dcbel, a company focused on powering people's homes and electric vehicles, announced this week that it has raised an additional $7.5 million in growth capital. This comes after the company raised $40 million back in April of this year.

This new funding - from Silicon Valley Bank - will be used to spearhead production for its r16 home charger, which is able to both power a user's home and their electric vehicle. Manufacturing will take place in Quebec, with additional manufacturing facilities planned for the EU and US in 2022.

The company plans to have its charging stations available to users in California, New York, and Texas later this year.

“We are excited to work with a financial partner like Silicon Valley Bank who understands the needs of a fast-growing company," says Matthieu Vidricaire, Head of Operations at dcbel. “This will help us introduce our first manufactured product under challenging conditions in the global supply chain.’’

In addition to providing electricity for both the home and EVs, the r16 charger has also smart functionality that learns from users' habits in an effort to allocate energy to the appropriate places, at the right time.

Places like California and Texas were chosen because of recent energy issues both states have dealt with. California recently experienced rolling blackouts in parts of the state, and Texas was dealt a heavy blow earlier this year as many people in the state were left without power.

If you'd like to learn more about dcbel, check out the Vator interview with CEO and founder Marc-André Forget.