EV-charging infra startup CHARGE+ZONE has raised USD 10 million in a bridge round led by Venture Catalysts and others. The funding, according to a report, will assist Charge+Zone in amping up its already existing charging network of over 1000 points across 19-cities largely for Electric Buses and cars.
Founded in 2018, The Gujarat-based EV firm specialises in B2B and B2C charging services by using smart-grid networks. The platorm boasts of 500 kms electrified National Highway B2C Network from Mumbai to Ahmedabad and has plans to electrify 10,000 kms pan-India in collaboration with partners, dealers and franchise.
Addressing the vision for the funding, Dr. Apoorva Ranjan Sharma, President, and Co-founder, Venture Catalysts, said: “Concern for the environment, health issues being caused due to air pollution and rising fuel prices are some of the primary reasons India is witnessing a conscious shift to EVs. Further, Government-backing in the form of EV incentives is only going to create a northward demand for EVs. While EVs are the future of the world, there is a pressing need to have supporting infrastructure such as EV Charging Stations and Battery Swapping Facilities, in order for this transition to happen without glitches. We are confident of the growth trajectory that would be charted by CHARGE+ZONE in the near and long-term.”
Also Read: AuthBridge mops up $7mn in Series B round
Mr. Kartikey Hariyani, CEO and Co-Founder, CHARGE+ZONE, commented, “We are humbled to have Venture Catalysts backing our vision. These are very exciting times for the EV landscape and its infrastructure in India. With the FAME-II, positive government regulations and clarity on EV charging protocols, we have already commenced the distribution of AC-Type2 EV Charging network as well as intercity Fast DC charging networks for the 1500 new points over next 150 days.”
CHARGE+ZONE has app-driven unmanned charging stations that boast of Original Equipment Manufacturer (OEM) Agnostic Charging Network and charging station management system. This makes the charging, seamless and efficient for the customers
