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Charge Zone raises $19M to expand high-speed charging network for EVs in India

Apr 30, 2024over 1 year ago

Amount Raised

$19 Million

VadodaraMotor Vehicle Manufacturing

Investors

British International Investment

Description

EV startup Charge Zone raised $19 million from a UK development finance institution and impact investor, British International Investment. The funding will be used to expand its high-speed charging network for electric cars, buses, and trucks across main cities in India and highways.

Company Information

Company

CHARGE ZONE

Location

Vadodara, Gujarat, India

About

CHARGE ZONE is a tech-driven EV Charging infrastructure company specializing in B2B and B2C charging services on both dedicated and opportunity based charging using smart-grid network. Based in India, with indigenous development of the technology of mobile-app and CMS with firmware/web-socket cloud based computing, CHARGE+ZONE is on a mission to establish 100,000 charging stations across important markets of EVs in India for cars, buses and even trucks.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech