Charge Zone, an EV charging startup, has made headlines by raising $19 million from a UK development finance institution and impact investor, British International Investment.

As per the startup, the freshly raised funds will be used to expand its high-speed charging network for electric cars, buses, and trucks across main cities in India and highways. The startup added that the funding will enable it to roll out 1,500 super-charging stations over the next 18 months.

Charge Zone | EV Charging Network

Founded by Kartikey Hariyani, Charge Zone is a Vadodara-based tech-driven EV Charging infrastructure startup specializing in B2B and B2C charging services on both dedicated and opportunity-based charging using smart-grid network.

Speaking about the development, Kartikey Hariyani, founder and CEO of Charge Zone, highlighted that the raised capital not only bolsters their capacity for network expansion but serves as a testament to their shared vision for a sustainable future.  Hariyani added that the funding will accelerate their efforts to deploy state-of-the-art charging stations, ensuring that EV drivers across the nation experience unparalleled convenience and reliability.

The EV startup is focused on expanding in markets such as Delhi, Ahmedabad, Mumbai, Pune, Hyderabad, Bengaluru, and Chennai, aiming to deploy open-access hubs for charging so that more people can use them.

Statement from the Investor

Commenting on the development, Srini Nagarajan, Managing Director and Head of Asia at BII, said, 

“Our support of Charge Zone’s expansion will address the challenge of an underdeveloped EV charging infrastructure, facilitate a more sustainable transportation system, and make EVs a viable and accessible option for many across the country.”

Last year, Charge Zone raised $54 million in a Series A1 funding round led by BlueOrchard Finance. 

The startup aims to expand its portfolio to include at least 10,000 charging stations by 2027. Its clients include major players such as Hyundai, Mahindra & Mahindra, and Tata Motors, as well as hospitality giants like Marriott and Hyatt, among others.

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