Charge+Zone aims to raise US$ 125 million in Series A2 by year end

Capital from the Series A2 funding will be used for strategic investment in e-mobility companies, among other things.

Autocar Pro News Desk By Autocar Pro News Desk calendar 08 Jun 2023 Views icon4462 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Charge+Zone aims to raise US$ 125 million in Series A2 by year end

Charge+Zone, the Gujarat-based EV charging company, aims to raise US$ 125 million in Series A2 by the end of this calendar year. The company had raised US$ 54 million in Series A1, led by BlueOrchard.

It has also completed the first phase of installing 1,600 plus EV charging stations across 450+ locations, covering more than 15,000 kilometres of highways across the country, and the capital raised from the A2 Series funding will be used for further expansion of its retail network in the state and national highway charging infrastructure. It will also use the capital for product research and development and strategic investment in e-mobility companies.

Kartikey Hariyani, founder and CEO, CHARGE+ZONE said that the fresh round of investments would enable them to achieve their target network size of 5,000 fast chargers on the state and national highways, by 2025.

RELATED ARTICLES
BMW Group India plans 25 new models’ onslaught in 2024

auther Autocar Pro News Desk calendar24 Jul 2024

"We are on a product offensive," said Vikram Pawah.

Porsche India registers 40% sales growth in first half of 2024

auther Autocar Pro News Desk calendar24 Jul 2024

Porsche sold 93 units of the 911 in the January-June 2024 period.

KPIT's net profit rises by 52.4% during Q1FY25 to Rs 204.16 crore

auther Autocar Pro News Desk calendar24 Jul 2024

The growth was led by middleware and powertrain domains.