CHARGE+ZONE, an Indian EV charging firm, has just secured $54 million in its Series A1 funding round. This money will be used to expand their high-speed charging network across the country. The investment was led by BlueOrchard Finance, an impact investment firm, and was backed by both current investors as well as new institutional investors.The funding will be used to establish 286 electric charging sites in critical locations, with the potential to cater over 1,100 electric buses, trucks and 1,250 EV fleets. The targeted diesel & petrol vehicle emissions reduction is estimated at a whopping 5,351 tonnes per annum.
CHARGE+ZONE intends to build 3,000 quick-charge DC stations by 2025 throughout India, allowing for simple access to electric transportation for both car, bus and truck owners. This development would revolutionize e-mobility in the region. CHARGE+ZONE recently secured Series A1 funding to finance its planned capital expenditure of $300m over the next 4-5 years. This will greatly bolster the company’s growth trajectory in that time frame.
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Thanks to BlueOrchard’s generous funding, CHARGE+ZONE will be able to create over 500 jobs and help India meet its environmental and climate targets. According to Aurelia Marti, Investment Manager at BlueOrchard, there’s a massive and increasing demand for electric vehicles due to the need for sustainable transportation. CHARGE+ZONE is perfectly set up to take advantage of these opportunities, owing to its reliable leadership team comprising business and finance specialists.
Established in 2019, CHARGE+ZONE is a technology-based electric vehicle (EV) charging network provider that specializes in fast charging solutions for buses, trucks, as well as personal cars at enterprise and consumer venues. This latest investment will facilitate the company in bringing economical and readily available electric vehicle charging infrastructure to India, further promoting electric mobility in the country and helping it reach its net-zero emissions mission by 2070.
