The venture capital arm of Kuwait-based global logistics and warehouse provider Agility has invested $20 million (KWD 6 million) in Loop Global, a US-based company that develops electric-vehicle (EV) charging stations and networks, it said in a regulatory filing on Boursa Kuwait.
Loop, which operates across America and in more than 15 countries, said it would use the funds from Agility Ventures and other new investors to support its expansion and growth.
Agility has committed more than $170 million to investments in sustainable transportation, energy and technology. Its portfolio includes investments in Hyliion, a US innovator in electrified powertrain systems, Frete, Brazil's leading freight marketplace and Dubai-based mobility solutions provider Swvl.
(Writing by Brinda Darasha; editing by Seban Scaria)