HomeOther Energy Applications ›EV Charging Infra Firm CHARGE+ZONE Secures USD 54 Million in Series A1

EV Charging Infra Firm CHARGE+ZONE Secures USD 54 Million in Series A1

The current Series A1 financing round is part of the proposed capex investment of USD 300 million, as the company anticpates vital evolution for the electric four-wheeler segment for the next 4-5 years.

March 21, 2023. By EI News Network

Electric vehicle charging infrastructural floor CHARGE+ZONE  declared about securing USD 54 million i.e., INR 450 crore in Series A1 financing round supported by global impact investment management company BlueOrchard Finance.

The company has further plans to secure USD 75-100 million in equity as part of Series A2 during the time period of 2023-2024.

The current Series A1 financing round is part of the proposed capex investment of USD 300 million, as the company anticpates vital evolution for the electric four-wheeler segment for the next 4-5 years.

In the present time, CHARGE+ZONE  has plan layout to construct 3,000 high-speed DC charging stations by the year 2025 and widen the nexus to permit e-mobility throughout the fleet and personal EV segment comprising EV cars, buses and trucks.

The firm said the financing will fund an immediate introduction of 286 charging stations catering 1,130 e-buses and e-trucks along with more than 1,250 e-car fleets join to its new expansion objectives.

As of this month, the company has over 3,000 charging points all over 1,500 EV charging stations in function or construction in 37 Indian cities and has covered over 10,000 kilometres of highways.

The company is envisioning to establish one million charging points by 2030.

In the long run, the Series A1 financing for CHARGE+ZONE will grant directly and indirectly to the generation of more than 500 jobs.
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