Highlights

  • Spanish state-owned entity SETT commits over $9 million through the Next Tech initiative.
  • Additional $5 million raised from existing investors, including Iberdrola’s Perseo and company executives.
  • Funding will support Wallbox’s EV charging and energy management technology development and global expansion.

Wallbox N.V. (NYSE: WBX), a global provider of electric vehicle (EV) charging and energy management solutions, has raised $15 million through two private placements of its Class A ordinary shares. The funding includes a public-sector investment of more than $9 million by the Government of Spain through the Spanish Society for Technological Transformation (SETT), as well as over $5 million from existing private investors.

SETT, a state-owned enterprise operating under the Ministry for Digital Transformation and Public Administration, has invested in Wallbox as part of the company’s February 2025 financing round. The investment is part of the Spanish government’s Next Tech initiative, designed to encourage private investment in strategic sectors and enhance access to capital for companies engaged in disruptive technological innovation.

Next Tech is one of the funding instruments within Spain’s Recovery, Transformation, and Resilience Plan. Alongside this initiative, SETT also manages other financial programs such as PERTE Chip, focused on microelectronics and semiconductors, and the Spain Audiovisual Hub, which supports digital development in the media sector.

In addition to the public-sector investment, existing Wallbox shareholders—including Inversiones Financieras Perseo, S.L. (a subsidiary of Iberdrola), Orilla Asset Management, S.L., and company co-founder and CEO Enric Asunción—have contributed more than $5 million in a second round of private funding. This transaction closed on June 2, 2025. The public-sector investment is expected to close by June 13, 2025.

The capital raised will be used to support Wallbox’s global operations, particularly the continued development of its EV charging technologies and related digital energy solutions. The company aims to expand access to smart energy infrastructure and contribute to the digitalization of energy consumption.

The funding is expected to strengthen the company’s financial position as it continues to pursue strategic growth in domestic and international markets. Wallbox noted that the dual-source financing reflects interest from both public and private stakeholders in advancing technology relevant to the clean energy transition.