As part of Series A1, CHARGE+ZONE has raised $54 million, of which $8 million is debt investment from an infrastructure strategy managed by Blue Orchard.
The funding arranged by BlueOrchard will finance an immediate roll-out of 286 charging stations serving 1,130 e-buses and e-trucks, as well as over 1,250 e-car fleets, in addition to new expansion targets by CHARGE+ZONE. Over the long term, the Series A1 funding for the company will contribute directly and indirectly to creating at least 500 jobs.
Kartikey Hariyani, Founder & CEO, CHARGE+ZONE, said, “As a part of our Series A1 fundraise of $54 million (INR450 crore) of equity and debt, we are excited to have BlueOrchard to be a part of our journey to build the supercharging networks for EVs in India and other global markets.”
In the current phase, the company aims to build 3,000 high-speed DC charging stations by 2025 and expand its network to enable e-mobility across the fleet and personal EV segment. The current Series A1 raise is part of the planned capex investment of $300 million.
Aurelia Marti, Investment Manager, Infrastructure, BlueOrchard, said, 'We see a large and growing market for electric vehicles, driven by the need for more sustainable transportation. With its strong management team of industry and finance experts, CHARGE+ZONE is ideally positioned to capitalise on the opportunities in the Indian e-bus market.”
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