CHARGE+ZONE, an EV charging platform in India secures USD 54 mn in equity and debt led by BlueOrchard Finance along with seasoned and new institutional investors.
The funding secured by BlueOrchard will support CHARGE+ZONE’s new expansion goals as well as the immediate roll-out of 286 charging stations serving 1,130 e-buses, e-trucks, and over 1250 e-car fleets, as per reported by BW Disrupt.
“As a part of our Series A1 fundraise of US$54m (INR450 crores) of equity and debt, we are excited to have BlueOrchard to be a part of our journey to build the supercharging networks for EVs in India and other global markets. In the current phase, we aim to build 3000 high speed DC charging stations by 2025 and expand our network to enable e-mobility across the fleet and personal EV segment including EV cars, buses and trucks. The current Series A1 raise is the part of the planned capex investment of US$300million, as we foresee crucial growth for the 4W e-mobility segment over the next 4-5 years.” said Kartikey Hariyani, Founder and CEO, CHARGE+ZONE.
A tech-driven EV charging infrastructure company called CHARGE+ZONE focuses on B2B and B2C charging services using a smart-grid network for both dedicated and opportunity-based charging.
With headquarters in India and in-house development of mobile-app and CMS with firmware/web-socket cloud computing, CHARGE+ZONE has set out to install 100,000 charging stations throughout India’s key EV markets for cars, buses, and even trucks.
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