EV charging infra platform CHARGE+ZONE raises $54 mn in Series A1 funding
Electric vehicle charging infra platform CHARGE+ZONE on Monday announced raising USD 54 million (Rs 450 crore) in Series A1 funding round led by global impact investment management firm BlueOrchard Finance.
Additionally, the company plans to raise USD 75-100 million in equity as part of Series A2 during 2023-2024, CHARGE+ZONE said in a statement.
The current Series A1 funding round is part of the planned capex investment of USD 300 million, as the company expects crucial growth for the electric four-wheeler segment over the next 4-5 years, the statement said.
The freshly raised capital, which is a combination of both debt and equity, will be utilised to support high-speed charging network expansion plans, the company said.
