CHARGE+ZONE Raises $10 Mn To Expand EV Charging Network

CHARGE+ZONE Raises $10 Mn To Expand EV Charging Network

SUMMARY

The startup plans to raise $50 Mn its Series A funding round next year

It offers an OEM agnostic charging network with its app-driven unmanned charging stations

It had raised funding of $3 Mn in November 2020

Electric vehicle (EV) charging startup CHARGE+ZONE has raised $10 Mn in a bridge funding round led by Venture Catalysts.

The company will utilise the funds to ramp up its already existing EV charging network. 

Kartikey Hariyani, CEO and confounder, CHARGE+ZONE, said that the company has already commenced the distribution of AC-Type2 EV charging network as well as intercity Fast DC charging networks for the 1,500 new points over next 150 days.

“CHARGE+ZONE has done a cumulative fundraise of $10 Mn as a bridge round and will, further, raise Series A funding worth $50 Mn in 2022,” said the statement.

CHARGE+ZONE offers an Original Equipment Manufacturer(OEM) agnostic charging network with its app-driven unmanned charging stations along with its charging station management system.

The Gujarat based startup’s revenue stream is led by Fast DC Charging Network for electric buses, electric cars and electric two and three wheelers, battery swapping networks and SaaS.

Founded in 2018 by Hariyani, the startup had raised $4 Mn prior to the latest funding round. In November last year, it had raised funding of $3 Mn in a pre-series A round led by Venture Catalysts.

Venture Catalysts is an integrated incubator which invests $250,000 – $1.5 Mn in early-stage startups.

The EV segment including vehicle makers and related infrastructure and service providers has witnessed a rapid growth in the past few years backed by the government’s support and the extension of the FAME-II subsidy scheme for electric vehicles.

Last month battery-swapping network startup Battery Smart raised $7 Mn in a Pre Series A round led by Blume Ventures and Orios Ventures.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

CHARGE+ZONE Raises $10 Mn To Expand EV Charging Network-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

CHARGE+ZONE Raises $10 Mn To Expand EV Charging Network-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

CHARGE+ZONE Raises $10 Mn To Expand EV Charging Network-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

CHARGE+ZONE Raises $10 Mn To Expand EV Charging Network-Inc42 Media
CHARGE+ZONE Raises $10 Mn To Expand EV Charging Network-Inc42 Media
You’re in Good company