Ev Charging Infra Platform Charge+Zone Raises $54 Million

Electric vehicle charging infra platform CHARGE+ZONE on Monday announced raising $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 $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 $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