CHARGE+ZONE raises a $10 Mn bridge round

EV-charging infra startup CHARGE+ZONE has raised $10 million as a bridge round led by Venture Catalysts and others, and will further raise Series A funding worth $50 million in 2022.

The funding will assist Charge+Zone in amping up its already existing charging network of over 1000 points across 19-cities largely for electric buses and cars.

Launched in 2018, CHARGE+ZONE is a EV charging infrastructure company specialising in B2B and B2C charging services by using smart-grid networks.

The Gujarat-based EV firm has a 500 kms electrified National Highway B2C Network from Mumbai to Ahmedabad and has plans to electrify 10,000 kms pan-India in collaboration with partners, dealers and franchise.

The company’s revenue stream is led by Fast DC Charging Network for Electric Buses, Electric Cars and Electric 2 and 3 Wheelers, Battery Swapping Networks forElectric 2 and 3 Wheelers and SAAS.